Al­ler­gy Ther­a­peu­tic­s' im­munother­a­py prospect tar­nished af­ter birch vac­cine flops in PhI­II

When the FDA lift­ed a 5-year clin­i­cal hold on Al­ler­gy Ther­a­peu­tics’ grass pollen al­ler­gy vac­cine, CEO Manuel Llo­bet sig­naled that the com­pa­ny need­ed on­ly to “fi­nal­ize the clin­i­cal de­vel­op­ment” be­fore they can un­lock the $2 bil­lion mar­ket val­ue wait­ing for their sub­cu­ta­neous jab. But in­vestors’ con­fi­dence in the whole im­munother­a­py plat­form was threat­ened again Mon­day af­ter Al­ler­gy con­ced­ed a top-line fail­ure for an­oth­er Phase III prod­uct pro­tect­ing against birch pollen.

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