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Allarity Granted Hearing Before Nasdaq Panel to Present Plan of Regaining Compliance
Boston (June 27, 2024) — Allarity Therapeutics, Inc. (“Allarity” or the “Company”) (NASDAQ: ALLR), a Phase 2 clinical-stage pharmaceutical company dedicated
About this update from Allarity Therapeutics, Inc.
[{"type":"text","content":"Boston (June 27, 2024) — Allarity Therapeutics, Inc. (“Allarity” or the “Company”) (NASDAQ: ALLR), a Phase 2 clinical-stage pharmaceutical company dedicated to developing personalized cancer treatments, today announced that it received notice from the NASDAQ Stock Market (“NASDAQ”) that it was granted a hearing before a Nasdaq Hearings Panel (the “Panel”). This upcoming hearing, occurring in approximately 5 weeks, is scheduled for the Company to present its plan for regaining compliance following Nasdaq’s notification, disclosed in Allarity’s Form 8-K filed with the SEC on June 21, 2024, of Allarity’s non-compliance with Nasdaq Listing Rule 5550(a)(2), also known as the Bid-Price Rule. This rule requires that a company’s stock maintain a minimum bid price of $1.00 per share for at least 30 consecutive business days. As previously disclosed in Allarity’s preliminary proxy statement filed with the SEC on June 21, 2024, Allarity intended to appeal the determination, and the Company’s request for hearing was formally submitted on June 25, 2024. Allarity now intends to proceed through the hearings appeal process with Nasdaq. The Company has already started preparing diligently for the hearing, with a preparation schedule in place to ensure thorough readiness. The Company plans to issue an update on the Nasdaq hearings process as soon as substantive updates are available. About Allarity TherapeuticsAllarity Therapeutics, Inc. (NASDAQ: ALLR) is a clinical-stage biopharmaceutical company dedicated to developing personalized cancer treatments. The Company is focused on development of stenoparib, a novel PARP/Tankyrase inhibitor for advanced ovarian cancer patients, using its DRP® companion diagnostic for patient selection in the ongoing phase 2 clinical trial, NCT03878849. Allarity is headquartered in the U.S., with a research facility in Denmark, and is committed to addressing significant unmet medical needs in cancer treatment. For more information, visit www.allarity.com. Follow Allarity on Social MediaLinkedIn: https://www.linkedin.com/company/allaritytx/X: https://twitter.com/allaritytx Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide the Company’s current expectations or forecasts of futu...