Allarity Therapeutics(ALLR)
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Allarity Therapeutics Reports Full Year 2024 Financial Results and Provides a Business Update
Globenewswire· 2025-03-31 20:05
Core Insights - Allarity Therapeutics has made significant advancements in the development of stenoparib, a dual PARP/WNT pathway inhibitor, particularly for advanced ovarian cancer treatment [1][2] - The company has undergone a strategic realignment to focus exclusively on stenoparib, discontinuing other clinical programs, which has accelerated progress in its clinical trials [2][3] - Financially, Allarity has strengthened its position, with a cash balance of approximately $25 million at the end of Q1 2025, providing a runway into 2027 for ongoing clinical activities [2][9] Clinical and Drug Development Progress - In 2024, Allarity executed a strategic realignment to focus solely on stenoparib, leading to accelerated progress in its clinical program [2] - The company reported a cash and cash receivable balance of $20.9 million as of December 31, 2024, which is expected to fund operations into 2027 [2][9] - Stenoparib has shown durable clinical benefits in heavily pre-treated ovarian cancer patients, with some patients remaining on treatment for over 17 months [3][4] Leadership Changes - Thomas Jensen has been appointed as the permanent CEO, transitioning from interim status, with a focus on advancing Allarity's strategic and clinical goals [8] - Key appointments include Jeremy Graff as President and Chief Development Officer, and Jose Iglesias as Consultant Chief Medical Officer, both bringing extensive oncology experience [8] Financial Strengthening and Corporate Development - The company reported a net loss of $24.5 million for 2024, an increase from $11.9 million in 2023, largely due to a non-cash impairment charge and costs related to an SEC investigation [10][21] - Allarity has implemented cost-reduction initiatives to strengthen financial sustainability while prioritizing stenoparib's advancement [8] - A $5 million share repurchase program has been authorized to reinforce long-term shareholder value [8] Regulatory and Compliance Resolutions - Allarity has resolved outstanding regulatory matters with the SEC related to past disclosures, allowing the company to focus on clinical and corporate progress [8] - The company regained compliance with Nasdaq listing requirements following a successful hearing [8]
Allarity Therapeutics Launches Comprehensive Effort to Combat Potential Illegal Naked Short Selling of Its Shares
Globenewswire· 2025-03-24 12:00
Core Viewpoint - Allarity Therapeutics has engaged Shareholder Intelligence Services to investigate potential illegal naked short selling and trading irregularities in its stock, emphasizing its commitment to protecting shareholder value and ensuring fair trading practices [1][2][3]. Group 1: Engagement with ShareIntel - The collaboration with ShareIntel aims to monitor trading activities and detect unusual short-selling patterns, utilizing ShareIntel's DRIL-Down™ technology for compliance-driven data analytics [2][3]. - Allarity will take corrective actions, including legal recourse if necessary, based on the findings from ShareIntel's investigation [2][3]. Group 2: CEO's Statement - The CEO of Allarity highlighted the importance of this engagement in fostering market confidence and addressing notable stock volatility observed by the company [3]. - The company aims to ensure that its shares are traded fairly and free from manipulation as it advances the clinical development of stenoparib [3]. Group 3: About Stenoparib - Stenoparib is a dual-targeted inhibitor of PARP1/2 and tankyrase 1/2, showing potential as a therapeutic for various cancers, particularly ovarian cancer [4]. - The drug's unique mechanism involves inhibiting PARP and blocking Wnt pathway activation, which is significant in cancer progression [4]. Group 4: Company Overview - Allarity Therapeutics is focused on developing personalized cancer treatments and has secured exclusive global rights for the development and commercialization of stenoparib [5]. - The company utilizes its DRP technology to create companion diagnostics aimed at selecting patients who would benefit most from stenoparib [5].
ALLR Shareholders are Encouraged to Join Allarity Therapeutics, Inc. Securities Fraud Investigation with the Schall Law Firm
Prnewswire· 2025-03-19 07:52
Core Viewpoint - The Schall Law Firm is investigating Allarity Therapeutics, Inc. for potential violations of securities laws related to misleading statements and undisclosed information [1][2]. Group 1: Investigation Details - The investigation centers on whether Allarity issued false or misleading statements and failed to disclose relevant information to investors [2]. - Allarity filed a Form 8-K with the SEC on July 22, 2024, indicating that it received a "Wells Notice" from the SEC regarding its disclosures related to meetings with the FDA concerning its New Drug Application for Dovitinib [2]. - The Wells Notice also indicated that three former officers of Allarity received similar notices from the SEC, and the SEC staff has made a preliminary determination to recommend enforcement action against the Company for alleged violations of federal securities laws [2].
Allarity Therapeutics Announces Presentation of Phase 2 Clinical Data from Ongoing Trial in Advanced Ovarian Cancer Patients at the 2025 Annual Meeting for the Society of Gynecologic Oncology
Newsfilter· 2025-03-17 12:00
Core Insights - Allarity Therapeutics presented new clinical data for stenoparib, a dual PARP/Wnt pathway inhibitor, at the SGO 2025 Annual Meeting, highlighting its potential in treating advanced ovarian cancer [1][2] Group 1: Clinical Trial Findings - The Phase 2 trial of stenoparib involved patients with advanced, recurrent ovarian cancer who had undergone three or more lines of therapy, with a focus on those with platinum-resistant disease [3][4] - Among the 15 enrolled patients, 14 were platinum-resistant, and one was primary platinum-refractory, with limited effective treatment options available [3] - Notably, one patient achieved a confirmed complete response lasting over 10 months, and two patients remain on therapy for more than 17 months [3][4] Group 2: Unique Mechanism and Patient Benefit - Stenoparib demonstrated clinical benefits in patients without BRCA mutations, indicating its unique dual action in inhibiting both PARP and the Wnt pathway [4][8] - The study is the first to dose stenoparib twice daily, optimizing the inhibition of PARP and Tankyrase, and showing potential durable clinical benefits in heavily pre-treated patients [8][9] Group 3: Future Directions and Company Strategy - The results from the exploratory Phase 2 study are foundational for Allarity, supporting the development of a new protocol to evaluate stenoparib in platinum-resistant patients [9][12] - Allarity is committed to addressing unmet medical needs in cancer treatment, focusing on personalized therapies and the development of companion diagnostics for stenoparib [11][12]
ALLR Investors Have Opportunity to Join Allarity Therapeutics, Inc. Securities Fraud Investigation with the Schall Law Firm
Prnewswire· 2025-03-14 08:30
Core Viewpoint - The Schall Law Firm is investigating Allarity Therapeutics, Inc. for potential violations of securities laws related to misleading statements and undisclosed information [1][2]. Group 1: Investigation Details - The investigation centers on whether Allarity issued false or misleading statements and failed to disclose relevant information to investors [2]. - Allarity filed a Form 8-K with the SEC on July 22, 2024, indicating that it received a "Wells Notice" from the SEC regarding its disclosures related to meetings with the FDA concerning its New Drug Application for Dovitinib [2]. - The Wells Notice also indicated that three former officers of Allarity received similar notices from the SEC, suggesting a broader issue within the company's management [2]. Group 2: SEC Actions - The Wells Notice informed Allarity that the SEC staff has made a preliminary determination to recommend an enforcement action against the company for alleged violations of federal securities laws [2].
Allarity Therapeutics Announces Final Settlement with the U.S. Securities and Exchange Commission
Newsfilter· 2025-03-13 12:30
Core Viewpoint - Allarity Therapeutics has reached a final settlement with the U.S. SEC regarding past disclosures related to its New Drug Application for Dovitinib, resolving all regulatory and legal challenges [1][2][3] Settlement Details - The settlement includes a one-time civil penalty of $2.5 million, with Allarity consenting to an administrative cease-and-desist order without admitting or denying the SEC's findings [2][4] - The SEC's investigation found violations of non-scienter-based provisions under Sections 17(a)(2) and (3) of the Securities Act of 1933, as well as Section 13(a) of the Securities Exchange Act of 1934 [2] Company Focus - With the resolution of legal matters, Allarity can now concentrate on advancing its clinical development plans for stenoparib, a dual PARP/Wnt pathway inhibitor [4] - The company has indicated that its cash position is expected to support operations into 2026, and the civil penalty will not affect its financial outlook or clinical programs [4] Product Information - Stenoparib is an orally available, small-molecule dual-targeted inhibitor of PARP1/2 and tankyrase 1/2, showing potential for treating various cancers, including advanced ovarian cancer [5] - Allarity holds exclusive global rights for the development and commercialization of stenoparib, which was originally developed by Eisai Co. Ltd. [5] Company Overview - Allarity Therapeutics is a clinical-stage biopharmaceutical company focused on developing personalized cancer treatments, particularly through its DRP® technology for companion diagnostics [6]
Allarity Therapeutics Announces Phase 2 Trial of Stenoparib in Combination with Temozolomide for Recurrent Small Cell Lung Cancer Fully Funded by the US Veterans Administration
Newsfilter· 2025-03-06 13:00
Core Viewpoint - Allarity Therapeutics is advancing a Phase 2 trial for stenoparib in combination with temozolomide to treat recurrent Small Cell Lung Cancer (SCLC), fully funded by the U.S. Veterans Administration, aiming to address significant unmet medical needs in this patient population [1][7][10]. Company Overview - Allarity Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing personalized cancer treatments, particularly stenoparib, a dual PARP/tankyrase inhibitor [13]. - The company is headquartered in the U.S. and has a research facility in Denmark, committed to addressing significant unmet medical needs in cancer treatment [13]. Clinical Study Design - The Phase 2 trial will enroll approximately 65 extensive-stage SCLC patients across 11 VA medical centers, assessing progression-free survival and determining the recommended Phase 2 dose during an initial safety lead-in phase [5]. Mechanism of Action - Stenoparib is a dual PARP and tankyrase inhibitor that enhances the efficacy of temozolomide by blocking DNA repair mechanisms, potentially increasing cancer cell death and addressing treatment resistance associated with SCLC [2][6][8]. - The combination aims to overcome resistance mechanisms such as the MGMT enzyme and mismatch repair deficiencies that limit the effectiveness of temozolomide [8]. Funding and Financial Considerations - The trial is fully funded by the U.S. Veterans Administration, ensuring that it will not impact Allarity's financial outlook or other clinical programs [10]. - Allarity's cash position is reported to support operations into 2026, indicating a stable financial foundation for ongoing and future projects [10]. Regulatory Status - Investigators are in the process of obtaining final regulatory approvals from the U.S. Food and Drug Administration, the VA, and the Institutional Review Board before patient enrollment can begin [9].
Allarity Therapeutics Announces Board Authorization of $5 Million Share Repurchase Program
Globenewswire· 2025-03-03 13:00
Core Viewpoint - Allarity Therapeutics has authorized a share repurchase program of up to $5 million, reflecting the company's confidence in its future and commitment to delivering value to shareholders and patients [1][2][3] Group 1: Share Repurchase Program - The share repurchase program allows Allarity to buy back up to $5 million of its common stock through February 28, 2026, without affecting its financial runway [1][2] - The program is discretionary, meaning the company can repurchase shares at its own pace and under market conditions, complying with legal requirements [3][4] Group 2: Company Confidence and Future Plans - The CEO of Allarity expressed confidence in the long-term vision and clinical potential of stenoparib, particularly for treating advanced ovarian cancer [3] - The company plans to initiate patient enrollment soon under a new trial protocol to further investigate stenoparib's dual mechanisms of action [3] Group 3: About Stenoparib - Stenoparib is a dual-targeted inhibitor of PARP1/2 and tankyrase 1/2, showing promise in treating various cancers, especially ovarian cancer [5] - The drug has exclusive global rights for development and commercialization, originally developed by Eisai Co. Ltd. [5] Group 4: Drug Response Predictor (DRP) - Allarity utilizes its proprietary Drug Response Predictor (DRP) to identify patients likely to benefit from stenoparib based on gene expression signatures [6] - The DRP platform has demonstrated the ability to predict clinical outcomes from drug treatment in numerous studies, enhancing the therapeutic benefit rate [6]
Allarity Therapeutics Announces Dismissal of Securities Class Action Lawsuit
Globenewswire· 2025-02-26 13:00
Core Viewpoint - Allarity Therapeutics has successfully dismissed a securities class action lawsuit, allowing the company to refocus on advancing its cancer treatment, stenoparib, and its companion diagnostic technology, the Drug Response Predictor (DRP) [1][2][3]. Company Overview - Allarity Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing personalized cancer treatments, particularly stenoparib, a dual-targeted inhibitor for advanced ovarian cancer [6]. - The company utilizes its proprietary DRP technology to identify patients who are most likely to benefit from stenoparib, enhancing the therapeutic benefit rate [5][6]. Legal Proceedings - The lawsuit, filed on September 13, 2024, alleged misleading statements regarding the regulatory prospects of the Dovitinib New Drug Application (NDA) [2]. - The case has been dismissed in its entirety, with no settlement or payment made by Allarity or its officers [2]. Product Information - Stenoparib is an orally available small-molecule inhibitor targeting PARP1/2 and tankyrase 1/2, showing potential in treating various cancers, including ovarian cancer [4]. - The DRP platform has demonstrated the ability to predict clinical outcomes from drug treatments in cancer patients, based on gene expression profiles from patient biopsies [5]. Future Focus - Following the dismissal of the lawsuit, the company aims to concentrate on advancing stenoparib and its companion diagnostic through a new Phase 2 trial protocol for advanced ovarian cancer [3][8].
Allarity Therapeutics to Begin Enrollment for New Phase 2 Protocol to Advance Stenoparib Toward FDA Approval in Advanced Ovarian Cancer Patients
Globenewswire· 2025-02-24 13:00
Core Viewpoint - Allarity Therapeutics is advancing its Phase 2 clinical trial for stenoparib, a dual PARP/Wnt pathway inhibitor, in ovarian cancer, with expectations to provide critical data by summer 2026 for pivotal registration trials [1][2][3]. Group 1: Clinical Trial and Protocol - The new trial protocol was developed after a comprehensive review of ongoing Phase 2 clinical data in collaboration with ovarian cancer experts, showing durable clinical benefits in platinum-resistant advanced ovarian cancer patients [2][3]. - The protocol has received approval from the Institutional Review Board (IRB) of the first trial sites, allowing for immediate patient enrollment [2][3]. - The trial aims to deepen the understanding of stenoparib's clinical benefits and evaluate its impact on the Wnt pathway, which is significant in advanced ovarian cancer and other malignancies [3][4]. Group 2: Drug Development and Market Position - Stenoparib is positioned as a potentially safer and more effective alternative to traditional chemotherapy, with the trial designed to enhance clinical benefits through an additional dosing level [3][4]. - The ongoing Phase 2 study has shown promising results, with two patients remaining on treatment for over 17 months [5]. - The trial is expected to address the FDA's "Project Optimus" guidelines and set the stage for pivotal registration studies [3][4]. Group 3: Regulatory Pathways and Future Plans - Allarity plans to pursue multiple regulatory pathways to expedite approval in the first half of 2025 [4]. - Key data will be presented at various scientific and clinical conferences, with abstracts already accepted [4]. - The company has completed a new drug manufacturing campaign to ensure readiness for patient enrollment [2][4]. Group 4: About Stenoparib and DRP Technology - Stenoparib is an orally available small-molecule inhibitor targeting PARP1/2 and tankyrase 1/2, with potential applications across various cancer types [5][6]. - The Drug Response Predictor (DRP) technology is utilized to select patients likely to benefit from stenoparib, enhancing therapeutic benefit rates [7]. - The DRP platform has shown significant predictive capabilities in clinical outcomes across numerous studies [7]. Group 5: Company Overview - Allarity Therapeutics is focused on developing personalized cancer treatments, particularly stenoparib for advanced ovarian cancer, utilizing its proprietary DRP technology [8]. - The company is headquartered in the U.S. and has a research facility in Denmark, aiming to address significant unmet medical needs in cancer treatment [8].