Allarity Therapeutics, Inc. - ALLR STOCK NEWS

Allarity Therapeutics (NASDAQ:ALLR) has initiated Phase 1b of its clinical trial, dosing the first patient to assess the combination therapy of stenoparib and dovitinib for advanced solid tumors, particularly ovarian cancer.

Ovarian cancer remains a critical health issue, affecting 1 in 78 women, with over 19,000 diagnoses expected in 2023. The ovarian cancer treatment market is projected to grow from $3.2 billion in 2022 to $6.36 billion by 2027.

The trial aims to determine the maximum tolerated doses of both drugs and evaluate their combined therapeutic potential. Notably, this therapy could provide a promising alternative to traditional chemotherapy, addressing a significant need in cancer treatment.

Allarity Therapeutics announced that an abstract on the company's proprietary DRP® Companion Diagnostic for cisplatin has been accepted for a poster presentation at the 2023 ASCO Annual Meeting. The presentation will detail findings from a Phase 2 Clinical Study evaluating the diagnostic's utility in identifying metastatic breast cancer patients likely to respond to treatment with LiPlaCis®. This study was conducted in collaboration with hospitals in Denmark and aims to enhance personalized cancer treatment. The poster will be featured on June 3, 2023, and the data highlights the DRP® platform's predictive capabilities, which have been validated in numerous clinical studies. Allarity continues to work on its drug candidates, including stenoparib and IXEMPRA®, while maintaining a focus on innovative cancer therapies.

Allarity Therapeutics (NASDAQ: ALLR) announced updates regarding its phase 2 clinical trials for IXEMPRA® and stenoparib. Efforts to enhance patient recruitment are a priority to meet the interim data readouts expected by the end of 2023. Recruitment has faced delays due to COVID-19, prompting Allarity to collaborate with multiple contract research organizations and amend trial protocols to broaden eligibility. For IXEMPRA, the DRP companion diagnostic cut-off score has been lowered from 67% to 33% to improve patient enrollment. For stenoparib, dosing will shift to a twice-daily regimen.

Allarity Therapeutics, a pharmaceutical company focused on oncology therapeutics, announced a 1-for-35 reverse stock split effective March 24, 2023. This decision, approved at a special stockholders' meeting, aims to increase the share price to comply with Nasdaq listing requirements and support future capital raising efforts. Following the split, the number of outstanding shares will decrease from approximately 34 million to 979,846. The company’s common stock will trade under the ALLR symbol, with adjustments made to its equity awards.

Allarity Therapeutics announced the initiation of a Phase 1b clinical study evaluating the combination of dovitinib and stenoparib for treating advanced solid tumors, including ovarian cancer. This trial aims to address the unmet medical need for patients who do not respond to existing PARP inhibitors. The study involves a two-part program focusing on safety, anti-cancer activity, and determining the maximum tolerated dose (MTD) of both drugs. Target enrollment is up to 36 patients, with an anticipated data readout in the first half of 2024. Allarity holds exclusive rights to both compounds, reflecting its strategic shift towards combination therapies.

Allarity Therapeutics announced the adjournment of its 2023 Annual Meeting of Stockholders held on January 19, 2023, with no business conducted. The meeting will reconvene on February 3, 2023, at 1:00 p.m. (Eastern Time) to allow more time for stockholder votes on proposals in the Proxy Statement submitted on December 6, 2022. Stockholders of record may attend virtually and vote using the Proxy Card provided. Notably, the record date remains December 6, 2022. Allarity continues to encourage stockholders who have not voted to do so promptly.

Allarity Therapeutics has cancelled its adjourned 2022 Annual Stockholders Meeting, originally set for December 2, 2022. A new virtual meeting, the 2023 Annual Stockholders Meeting, is scheduled for January 19, 2023. This change is due to attempts to secure a quorum and allow shareholders to vote on proposals. Stockholders of record as of December 6, 2022, will be entitled to vote. Allarity develops cancer therapeutics alongside their DRP^® companion diagnostics, aimed at personalized treatment.

Allarity Therapeutics reported its Q3 2022 financial results, revealing a net loss of $5.0 million, up from $1.4 million in Q3 2021. The company’s cash reserves fell to $3.9 million from $19.6 million at the end of 2021, raising concerns about its ability to sustain operations beyond 2022. R&D expenses increased to $3.0 million from $1.4 million year-over-year, while G&A expenses decreased to $1.6 million. Allarity is exploring options for a bridge loan to extend its cash runway, facing substantial doubt about its future operations.

Allarity Therapeutics, a clinical-stage pharmaceutical company, convened its 2022 Annual Meeting of Stockholders on November 4, 2022, but adjourned without conducting any business. The meeting is rescheduled for December 2, 2022, to allow more time for stockholders to vote on proposals, including increasing authorized shares from 30 million to 150 million. Allarity is seeking additional capital to continue its operations and clinical trials, specifically delaying patient enrollment in a Phase 1b/2 trial for its PARP inhibitor due to funding issues.