A big bump in sales of vaccines for hay fever has sent shares in AIM-listed Allergy Therapeutics up 17pc today.

The treatment, known as Pollinex, can vaccinate patients against the allergy, which flares up in summer, through a short course of four to six injections, the company said, and is proving popular in mainland Europe.

Growth in sales of Pollinex spiked revenues by almost a third to £64.1m for the year to June 2017, up from £48.5m the previous year and ahead of market expectations.

The jump in revenue would have been 15pc at constant currency, without the benefit of the strong euro compared to the weaker pound.

Shares in the company closed up 17pc on Tuesday at 30.125p.

Allergy Therapeutics’ other products include vaccines for bee and wasp stings and dust mites.

It is also working on a potential blockbuster vaccine for peanut allergy, which affects around 1-2pc of people in Western countries and for which there is currently no established or safe treatment.

The company’s full-year results will be announced in September.