Financial Performance - Allarity Therapeutics reduced net loss from operations by 50% to $17.1 million in 2023, compared to $34 million in 2022[7] - The company achieved a net loss of $11.9 million for 2023, a decrease of 26% from $16.1 million in 2022[7] - Research and Development (R&D) expenses increased slightly to $7.1 million in 2023 from $6.9 million in 2022[7] - General and Administrative (G&A) expenses remained stable at $10.0 million for both 2023 and 2022[7] Clinical Development - Early data from the Phase 2 study of stenoparib indicated significant clinical benefit, with 5 evaluable patients showing stable disease and 1 achieving a complete response[3] - The company plans to announce interim data from the DRP-guided Phase 2 clinical trial of stenoparib in advanced ovarian cancer in Q2 2024[6] - The DRP platform has shown a statistically significant prediction of clinical outcomes in 37 out of 47 studies examined[8] - Allarity is focused on addressing unmet medical needs in oncology, particularly through the development of stenoparib[9] Leadership and Structure - Leadership changes include the appointment of Thomas Jensen as Interim CEO and Jeremy Graf, Ph.D., as Executive Advisor[5] - The company is headquartered in the U.S. with a research facility in Denmark, emphasizing its commitment to cancer treatment innovation[9] Financial Position - Total current assets decreased from $4,968 million in 2022 to $1,971 million in 2023, a decline of approximately 60%[18] - Total liabilities increased from $12,654 million in 2022 to $14,613 million in 2023, an increase of about 15.5%[18] - The accumulated deficit rose from $82,550 million in 2022 to $94,451 million in 2023, reflecting an increase of approximately 14.5%[19] - The total stockholders' deficit increased significantly from $113 million in 2022 to $2,751 million in 2023[19] - The company reported a liquidation preference of $17.54 for Series A Preferred Stock as of December 31, 2023[18] - Additional paid-in capital increased from $83,158 million in 2022 to $90,369 million in 2023, a growth of about 8.6%[19] - The number of shares issued and outstanding for Common Stock decreased from 11,356 in 2022 to 5,886,934 in 2023[19] - Intangible assets increased from $9,549 million in 2022 to $9,871 million in 2023, a rise of approximately 3.4%[18] - The company had a cash balance of $166 million as of December 31, 2023, down from $2,029 million in 2022, a decrease of about 91.8%[18] - The current liabilities increased from $11,222 million in 2022 to $14,167 million in 2023, an increase of approximately 26.5%[18]
Allarity Therapeutics(ALLR) - 2023 Q4 - Annual Results