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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.
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.
Allarity Therapeutics, Inc. reported its financial results for Q2 2022, indicating a net loss of $5.1 million, slightly down from $5.4 million in the same period last year. The company’s cash reserves decreased to $7.7 million from $19.6 million at the end of 2021. Allarity regained compliance with Nasdaq Listing Rule 5250(c)(1) after filing the required 10-Q. The company also made several executive appointments, including James G. Cullem as interim CEO. Notably, dovitinib received Rare Pediatric Disease Designation from the FDA for pediatric osteosarcoma.
Allarity Therapeutics (Nasdaq: ALLR) announced the appointment of Jerry McLaughlin to its Board of Directors, effective October 1, 2022. McLaughlin, a biotechnology executive with over 30 years of experience, is expected to enhance the company’s combination therapy-focused strategy. His operational expertise in clinical-stage development and capital markets, alongside prior leadership roles at several biopharmaceutical firms, positions him to contribute significantly to Allarity's goals. The company continues to focus on developing novel oncology therapies paired with its DRP® companion diagnostics.
Allarity Therapeutics, Inc. (Nasdaq: ALLR) announced that CEO James G. Cullem will present a corporate update on September 29, 2022, at the Ladenburg Thalmann Healthcare Conference in New York. The presentation is scheduled for 3:00 p.m. ET. Investors interested in one-on-one meetings can reach out via Ladenburg Thalmann or email the company. A webcast of the presentation will be available on the company's website for 30 days following the event. Allarity develops personalized cancer therapies using its proprietary DRP® diagnostic platform, which enhances treatment efficacy.
Allarity Therapeutics, Inc. (Nasdaq: ALLR) announced the appointment of Wolf & Company as its independent public accounting firm, effective immediately. This change follows the resignation of Marcum LLP on August 5, 2022. While the new appointment does not immediately affect compliance with Nasdaq Listing Rule 5250(c)(1), it is a crucial step in regaining compliance. Allarity is working with Wolf & Company to file its Quarterly Report on Form 10-Q for Q2 2022, which is essential for regaining Nasdaq compliance. The company focuses on developing oncology therapeutics supported by its DRP® companion diagnostics.
On August 26, 2022, Allarity Therapeutics (Nasdaq: ALLR) disclosed receipt of a non-compliance letter from Nasdaq regarding its failure to file the Quarterly Report on Form 10-Q for the quarter ending June 30, 2022. This notification does not immediately affect the company's stock listing but poses a risk of delisting if compliance is not restored. The company has 60 days to submit a plan, and if accepted, may have up to 180 days to file the report. Allarity aims to file the Form 10-Q as soon as possible, maintaining focus on its oncology drug development.
Allarity Therapeutics, Inc. has refocused its oncology pipeline strategy from monotherapy to combination therapies. This shift aims to align with the growing standard of care in oncology, optimize funding opportunities, and enhance commercial prospects. The Board's decision follows feedback from the FDA indicating the need for additional studies on dovitinib's dosing before proceeding to Phase 3 trials. The company plans to initiate a Phase 1b/2 study of stenoparib in combination with dovitinib for ovarian cancer by Q4 2022. Ongoing studies for stenoparib and IXEMPRA will continue as planned.