STOCK WATCH

SHARES in drug maker Allergy Therapeutics plunged after the final-stage trial for a hay fever treatment was ineffective.

The treatment, administered through injections, was tested on 582 patients in several European countries but did not relieve their symptoms.

Boss Manuel Llobet said they were ‘surprised’ by the result and would go back to the raw data in a bid to eventually get the product to market. Shares dived 42.4pc, or 6.1p, to 8.3p.