Financial Data and Key Metrics Changes - For Q3 2025, total revenue was $1.1 million, a significant increase from $0.1 million in Q3 2024 [22] - Total operating costs and expenses decreased to $6.5 million from $47.8 million year-over-year, representing an 86% reduction [23] - Net loss from continuing operations was $13.1 million, compared to a net loss of $48.3 million in Q3 2024 [23] - Cash, cash equivalents, and investments as of September 30, 2025, totaled $121.1 million, extending the cash runway into 2028 [24] Business Line Data and Key Metrics Changes - The sale of FibroGen China to AstraZeneca was completed for approximately $220 million, providing access to cash and extending the company's runway [5][21] - The company is progressing with FG3246 and FG3180 in metastatic castration-resistant prostate cancer (MCRPC), with a phase two trial initiated [5][10] - Roxadustat is on track for a pivotal phase three trial for lower-risk myelodysplastic syndromes (MDS), with a regulatory path established following a successful FDA meeting [18][19] Market Data and Key Metrics Changes - The total addressable market for FG3246 in MCRPC is estimated to be over $5 billion annually [8] - Approximately 49,000 patients in the US are affected by anemia associated with lower-risk MDS, highlighting a significant market opportunity for Roxadustat [16] Company Strategy and Development Direction - The company aims to advance its mid and late-stage clinical development programs for FG3246 and Roxadustat, focusing on innovative treatment options for cancer and anemia [25] - The strategy includes leveraging the sale of FibroGen China to support US development initiatives and reduce fixed costs [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position to advance meaningful therapeutic options and create shareholder value [6] - The company anticipates reporting top-line results from the investigator-sponsored trial of FG3246 in combination with enzalutamide in Q1 2026 [25] Other Important Information - The company has a clear regulatory path for Roxadustat, with plans to submit the phase three trial protocol by the end of 2025 [19][25] - The company has reduced its total operating costs and expenses guidance for 2025 to between $50 million and $60 million, reflecting a 70% reduction from 2024 [24] Q&A Session Summary Question: Congratulations on closing the $220 million deal with AstraZeneca - Management acknowledged the transformative nature of the transaction [26] Question: What proportion of patients might be screened out due to thrombotic risk in the Roxadustat trial? - Management indicated that it is too early to estimate the proportion, as it depends on FDA alignment and trial data [29] Question: What is the estimated cost of the phase three trial for Roxadustat? - The estimated cost is between $50 to $60 million, assuming an enrollment of about 200 patients [29] Question: Can you provide more details on the top-line data expectations from the IST study for FG3246? - Management expects encouraging results consistent with previous efficacy estimates, particularly focusing on patient history with ARPIs [37] Question: Is the $63 million liability related to milestone payments for the ADC asset? - Management clarified that the liability is related to royalties from the royalty financing with NovaQuest Capital Management [39] Question: When will the decision be made regarding the phase three trial for Roxadustat? - Management expects to have clarity on the path forward by the second quarter of next year [44]

As filed with the Securities and Exchange Commission on April 4, 2023. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Allarity Therapeutics, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 2834 87-2147982 (Primary Standard Industrial Classification Code Number) 24 School Street, 2nd Floor Boston, MA 02108 Telephone: ( ...