Allarity Therapeutics, Inc. - ALLR STOCK NEWS

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.

Allarity Therapeutics, Inc. announced the conversion of all Series A Preferred Stock and Variable Priced Warrants into common stock, simplifying the company's capital structure and eliminating market overhang. The conversions were investor-initiated, leaving only a number of warrants at a fixed exercise price of $20 per share. Additionally, the company has fully paid off all bridge notes, totaling $1,746,630. This restructuring aims to enhance the stock's attractiveness and focus on lead asset, stenoparib.

Allarity Therapeutics, a clinical-stage pharmaceutical company, exceeds Nasdaq's minimum equity requirement of $2.5 million, seeking formal confirmation of compliance. The company plans to withdraw Form S-1 submitted to the SEC, reflecting improved equity status and focusing on advancing stenoparib for ovarian cancer treatment.

Allarity Therapeutics, Inc. announced the early discontinuation of its Phase 2 trial of stenoparib, a PARP inhibitor, for advanced ovarian cancer. The trial showed clear clinical benefit, prompting the company to halt enrollment and focus on a follow-on trial for FDA submission. The patients were pre-screened using Allarity's companion diagnostic for personalized treatment. CEO Thomas Jensen emphasized the substantial positive outcomes and the potential of stenoparib in heavily pre-treated patients.

Allarity Therapeutics, Inc. (NASDAQ: ALLR), a clinical-stage pharmaceutical company, regained compliance with Nasdaq's minimum bid price requirement, maintaining a closing bid price above $1.00 per share for over ten consecutive trading days. CEO Thomas Jensen expressed optimism about the clinical potential of their lead asset in advanced ovarian cancer and their commitment to developing new treatment options.

Allarity Therapeutics, a clinical-stage pharmaceutical company, has received an extension until May 14, 2024, to regain compliance with Nasdaq Listing Rule 5550(b)(1). The company presented a strategic plan to the Nasdaq Hearings Panel, focusing on cost reduction, capital raising, and operational efficiency. Allarity implemented a 1-for-20 reverse stock split and reduced monthly operational expenditures to $400,000. Negotiations with stakeholders aim to adjust terms for future capital raising. The company is actively raising new equity to meet the $2,500,000 equity requirement by the target date.