Allergy Therapeutics PLC has announced the publication of its Annual Report and Accounts for the year ended 30 June 2023. The report, which has been posted to shareholders and is available on the company's website, includes key financial information and updates. As a result of the publication, trading in the company's ordinary shares on AIM is expected to be restored.

The 2023 Accounts revealed a number of key amendments to the final results, including a reduction in revenue, an increase in research and development costs, and exceptional funding costs. The audited revenue for the year to 30 June 2023 was £59.6 million, which is £1.4 million lower than previously stated in the Preliminary Results. The audited operating loss pre-research and development costs and exceptional costs was £14.8 million, and the full-year net loss was £43.1 million.

The amendments to the audited results include discussions with the German Health Insurance Association regarding statutory rebates, resulting in a reduction in current year revenue of £1.4 million and an increase in exceptional costs for the element relating to prior years. Additionally, the unaudited preliminary results included an exceptional charge of £11.3 million in relation to the non-cash fair value accounting for the G306 Contingent Payment, which has been removed from the audited results.

Furthermore, the company has made adjustments related to a retirement benefit, with a prior year adjustment recorded to correct the overstatement of the insurance policy's value. These adjustments and updates are detailed in the 2023 Accounts.

For further information, shareholders and interested parties can contact Allergy Therapeutics directly or refer to the company's website. The publication of the Annual Report and Accounts marks an important step for the company, providing transparency and insight into its financial performance and strategic developments.