Allarity - ALLR STOCK NEWS

Allarity Therapeutics (NASDAQ: ALLR) has appointed Alex Epshinsky as its new Chief Financial Officer. Epshinsky, a CPA with nearly a decade of financial leadership experience in biotech and pharma, joins from Avenue Therapeutics. His expertise will support Allarity's advancement of stenoparib, a novel PARP inhibitor for advanced recurrent ovarian cancer.

As part of his employment package, Allarity granted Epshinsky 55,555 restricted stock units (RSUs) on September 12, 2024. These RSUs will vest in equal one-third installments over three years, subject to continuous employment. The inducement awards were approved by Allarity's Board in accordance with Nasdaq Listing Rule 5635(c)(4).

Allarity Therapeutics (NASDAQ: ALLR) has taken a decisive step towards regaining Nasdaq compliance by implementing a 1-for-30 reverse stock split, effective September 11, 2024. This action follows shareholder approval at the Annual Meeting on September 3, 2024, meeting the Nasdaq Hearings Panel's requirements. The split aims to mitigate delisting risks and support the company's focus on developing personalized cancer treatments, particularly stenoparib for advanced ovarian cancer.

Key points:

• New CUSIP number: 016744500
• Total outstanding shares reduced to approximately one-thirtieth
• Fractional shares rounded up to nearest whole number
• Computershare appointed as exchange agent
• Adjustments made to equity awards and authorized shares under 2021 equity incentive plan

Allarity Therapeutics (NASDAQ: ALLR), a Phase 2 clinical-stage pharmaceutical company focused on personalized cancer treatments, has announced the postponement of its Annual Meeting of Stockholders. The meeting was originally scheduled for July 26, 2024, at 10:00 AM Eastern Time. The company's Board of Directors made the decision to delay the meeting on July 25, 2024, exercising its authority under the company's bylaws.

Allarity Therapeutics will determine and announce a new date for the Annual Meeting in the future. The company has committed to providing updated information about the new meeting date and, if necessary, a new record date as soon as it becomes available.

Allarity Therapeutics (NASDAQ: ALLR) is urging shareholders to vote FOR a reverse stock split and decrease in authorized shares at the upcoming annual meeting on July 26, 2024. The Board emphasizes these measures are crucial for maintaining Nasdaq listing compliance and avoiding potential delisting, which could negatively impact stock tradability and price.

Key points:

• Reverse stock split aims to regain and sustain Nasdaq compliance
• Decrease in authorized shares to reduce negative effects on earnings per share and voting power
• Failure to approve may hinder management's strategy execution and business development
• Voting deadline: 11:59 p.m. ET on July 25, 2024
• Stockholders can vote or change their vote using proxy materials or contacting their brokerage firm

Allarity Therapeutics (NASDAQ: ALLR) has announced significant progress in 2024, highlighting a strong financial position with a $20 million cash balance expected to provide runway into 2026. The company plans to pause its ATM offering and has consolidated its capitalization table. Allarity is focusing resources on stenoparib, which shows extended clinical benefit in a Phase 2 trial for ovarian cancer.

However, Allarity received a Wells Notice from the SEC regarding disclosures about FDA meetings for Dovitinib. The company is proposing a reverse stock split to maintain NASDAQ listing compliance, which is important for investor confidence and stock liquidity.

Allarity Therapeutics (NASDAQ: ALLR), a Phase 2 clinical-stage pharmaceutical company, has announced it has secured a hearing with a Nasdaq Hearings Panel to present its compliance plan. This follows Nasdaq's notification of Allarity's non-compliance with the Bid-Price Rule, which mandates a minimum bid price of $1.00 per share for 30 consecutive business days. Notified on June 21, 2024, Allarity formally requested the hearing on June 25, 2024. The hearing is set to occur in about five weeks. The company is preparing diligently and will update on the process as substantive information becomes available.

Allarity aims to regain compliance and continue its mission to develop personalized cancer treatments.

Allarity Therapeutics announced that multiple patients in its Phase 2 trial of stenoparib for advanced ovarian cancer have exceeded 30 weeks of treatment. Stenoparib demonstrated significant tumor shrinkage and long-term disease stability, prompting the company to halt patient enrollment to focus on a follow-on trial aimed at regulatory approval. Dr. Kathleen N. Moore, the trial's Principal Investigator, highlighted the drug’s promising results and favorable tolerability compared to first-generation PARP inhibitors. CEO Thomas Jensen emphasized the drug's safety profile and its potential as a next-generation treatment. The trial, conducted in the US and UK, involved pre-screened patients using Allarity’s DRP® companion diagnostic system and a revised dosing regimen to optimize drug exposure. The PARP inhibitor market is evolving rapidly, with stenoparib positioned as a differentiated therapeutic product.

Allarity Therapeutics (NASDAQ: ALLR) announced it has regained compliance with Nasdaq's minimum stockholders' equity requirement of $2.5 million. This follows successful efforts to cut operational costs, raise new equity, and reduce liabilities. The company received formal notification from Nasdaq confirming compliance, which allows it to focus on advancing its lead asset, stenoparib, toward regulatory approval for treating advanced ovarian cancer. Allarity will be under mandatory panel monitoring for one year. A detailed clinical update on the Phase 2 trial of stenoparib is expected soon.

Allarity Therapeutics (NASDAQ: ALLR) reported its first-quarter 2024 financial results and operational highlights, emphasizing significant achievements in clinical, financial, and regulatory domains. The company's Phase 2 trial of stenoparib for ovarian cancer concluded early due to clear clinical benefits. Allarity anticipates regaining full compliance with Nasdaq's listing requirements, with equity at $15 million and a cash balance of $14 million. The company reduced its warrant overhang and simplified its capital structure, which now consists of 17,606,739 shares. Their strategic focus is now solely on stenoparib development. Notably, R&D expenses increased to $2.2 million, while G&A expenses slightly decreased to $2.1 million, resulting in a net loss of $3.8 million for the quarter.