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Allarity Therapeutics Announces Dismissal of Securities Class Action Lawsuit
Boston (February 26, 2025)—Allarity Therapeutics, Inc. (“Allarity” or the “Company”) (NASDAQ: ALLR), a Phase 2 clinical-stage pharmaceutical company dedicated to developing stenoparib—a differentiated dual PARP/Wnt pathway inhibitor—as a personalized cancer treatment using its proprietary, drug-specific patient selection technology—the Drug Response Predictor (DRP®)—today announced that the securities class action lawsuit in the United States District Court for the Southern District of New York
About this update from Allarity Therapeutics, Inc.
[{"type":"image","alt":"Allarity Therapeutics, Inc.","displaySize":"","headline":null,"caption":"Allarity Therapeutics, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":138,"url":"https://media.zenfs.com/en/globenewswire.com/16a0c0de99db65c057c520e53af4186e"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/H2n2B7OUZZNZTe8771hvug--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE5MztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/16a0c0de99db65c057c520e53af4186e","width":300,"height":138}},"lazy":false},{"type":"text","content":"Boston (February 26, 2025)—Allarity Therapeutics, Inc. (“Allarity” or the “Company”) (NASDAQ: ALLR), a Phase 2 clinical-stage pharmaceutical company dedicated to developing stenoparib—a differentiated dual PARP/Wnt pathway inhibitor—as a personalized cancer treatment using its proprietary, drug-specific patient selection technology—the Drug Response Predictor (DRP®)—today announced that the securities class action lawsuit in the United States District Court for the Southern District of New York referenced in the Company’s Form 10-Q filing on November 11, 2024, has been dismissed in whole against all defendants.","length":623,"tagName":"p"},{"type":"text","content":"The lawsuit, originally filed on September 13, 2024, alleged that false or misleading statements were made regarding the regulatory prospects of the Dovitinib New Drug Application (NDA) and related matters. Allarity has consistently maintained that these claims were without merit.","length":281,"tagName":"p"},{"type":"text","content":"The case against all defendants has been dismissed with each party bearing its own legal costs and fees. No settlement or payment of any kind was made by the Company or any of its officers in connection with this dismissal.","length":223,"tagName":"p"},{"type":"text","content":"“We are pleased to put this matter behind us, allowing us to fully focus on advancing stenoparib and its companion diagnostic, the stenoparib-DRP, through our new Phase 2 trial protocol for the treatment of advanced ovarian cancer,” said Thomas Jensen, Chief Executive Officer of Allarity Therapeutics.","length":302,"tagName":"p"},{"type":"text","content":"About StenoparibStenoparib is an orally available, small-molecule dual-targeted inhibitor of PARP1/2 and tankyrase 1/2. At present, tankyrases are attracting significant a...