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Allarity Therapeutics, Inc. develops personalized cancer treatments as a clinical-stage biopharmaceutical company focused on stenoparib (2X-121), a dual PARP and WNT pathway inhibitor, and its DRP® companion diagnostic technology. The company’s updates center on Phase 2 oncology development, advanced ovarian cancer, clinical and scientific data presentations, companion-diagnostic intellectual property, FDA Fast Track status, and potential use of stenoparib in additional tumor settings.
Recurring news also covers operating and financial results, financing activity that supports clinical programs, research collaborations, and governance matters for the Nasdaq-listed company.
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Allarity Therapeutics, Inc. (Nasdaq: ALLR) has priced a public offering to raise approximately $7.5 million through the sale of 2,869,330 shares of common stock, 7,130,670 pre-funded warrants, and 10 million common warrants. The combined price is set at $0.75 per share and common warrant, with warrants having an exercise price of $0.85 per share and a five-year expiration.
The closing is anticipated around April 21, 2023, subject to customary conditions. Funds will be used for accounts payable, accrued liabilities, and general corporate purposes, including redeeming series A preferred stock.
A.G.P./Alliance Global Partners is the sole placement agent for this offering. The securities are offered under a registration statement effective as of April 18, 2023.
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.