LONDON (Alliance News) - Clinical-stage specialty biopharmaceutical company Circassia Pharmaceuticals PLC Monday said it is fully-funded to continue the development of its SPIRE product portfolio and bringing CAT-SPIRE to the market after raising over GBP200 million though an initial public offering earlier this year.
The SPIRE portfolio is Circassia's aims to help those who suffer allergic reactions to cats, house dust mites, grass and ragweed.
Newly-listed Circassia said at the end of April it had cash balances of GBP209 million.
Looking ahead, the firm said upcoming efficacy data read-outs include the HDM-SPIRE phase IIb two-year follow-up study and the Grass-SPIRE phase IIb third season follow-up study, both expected in the second-half 2014.
Circassia shares were quoted down 1.5% at 287.00 pence Monday afternoon.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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