Shares surge 10% as Alltracel issues update

SHARES in Alltracel Pharmaceuticals surged 10% yesterday after the Sallynoggin-based first aid product developer issued a positive trading update.

The company said revenues for the first six months of the year were on target at €8.3 million and that it remained comfortable with the full-year figure of €21 million that has been predicted by analysts.

It also impressed the market with the appointment of Patrick Wall, the former chief executive of the Food Safety Authority of Ireland and a leading academic at UCD, as a key scientific advisor.