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Highlights:
Allergy Therapeutics reports a 7.4% decrease in revenue for the full year 2024.
Net loss narrows by 6.6%, with an improved loss per share compared to FY 2023.
The company’s revenue is forecast to grow 19% annually over the next two years, outperforming the UK pharmaceutical industry.
Allergy Therapeutics (LSE:AGY) has released its full-year results for 2024, showing a decline in revenue, which amounted to £55.2 million, representing a 7.4% decrease compared to the previous year. The company’s net loss for the period was £40.2 million, though this was an improvement of 6.6% over FY 2023. The loss per share for the year stood at £0.011, a notable improvement from the previous year's loss of £0.064.
Despite the overall revenue decline, the company’s earnings per share (EPS) exceeded analyst expectations by 33%. The revenue figures were aligned with market forecasts, which reflects Allergy Therapeutics' ability to meet analyst projections despite challenges in the market.
Looking forward, Allergy Therapeutics is projected to see a 19% annual growth in revenue over the next two years. This growth rate is significantly higher than the expected 5.8% growth for the UK pharmaceutical industry during the same period, indicating that the company may outperform its sector peers in the near future.
In the broader context, Allergy Therapeutics' shares have experienced a decline of 3.6% over the past week, signaling some market uncertainty surrounding its performance. Additionally, the company faces certain risks that could impact its future operations, with three warning signs identified by analysts, one of which is considered more concerning.
Despite the challenges, the company remains focused on its core mission in the diagnosis and treatment of allergic disorders, positioning itself to potentially achieve substantial growth in the coming years. Investors and market observers are closely monitoring how Allergy Therapeutics navigates its ongoing business challenges and growth prospects.
