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Allarity Therapeutics Closes $20 Million Financing to Accelerate the Advance of Stenoparib Toward FDA Approval and Commercialization
Extends Company Cash Runway into Mid-2028Financing Expected to Fund Completion of Phase 2 Ovarian Cancer TrialFinancing Supports Acceleration Toward Pivotal
About this update from Allarity Therapeutics, Inc.
[{"type":"text","content":" Extends Company Cash Runway into Mid-2028Financing Expected to Fund Completion of Phase 2 Ovarian Cancer TrialFinancing Supports Acceleration Toward Pivotal Trial and CommercializationFinancing Structured as Non-Convertible Debt Financing TARPON SPRINGS, Fla., March 6, 2026 – Allarity Therapeutics, Inc. (“Allarity” or the “Company”) (NASDAQ: ALLR), a Phase 2 clinical-stage pharmaceutical company dedicated to developing stenoparib (2X-121)—a differentiated, dual PARP and WNT pathway inhibitor—today announced that it has closed a $20 million non-convertible debt financing with Streeterville Capital. The transaction is structured as a note purchase agreement pursuant to which the Company issued two non-convertible promissory notes: (i) a promissory note in the original principal amount of $10,930,000 and (ii) a secured promissory note in the original principal amount of $10,000,000, together providing approximately $20 million in net proceeds to the Company. The financing is expected to extend the Company’s cash runway into the summer of 2028. The Company intends to use the proceeds primarily to support key initiatives designed to accelerate the advance of stenoparib toward pivotal development, FDA approval and commercialization. Additional information regarding the transaction is included in the Company’s Form 8-K filed with the Securities and Exchange Commission on March 6, 2026. “This financing demonstrates the confidence which Streeterville has in Allarity and the capital received positions us to complete Phase 2 enrollment, prepare for our FDA meeting, advance our companion diagnostic strategy, and prepare for pivotal development of stenoparib in advanced ovarian cancer,” said Thomas Jensen, Chief Executive Officer of Allarity Therapeutics. “The financing also supports broader strategic initiatives, including further advancement of our DRP companion diagnostic platform and potential exploratory development in additional WNT-driven tumor types. We view stenoparib as a novel, highly differentiated therapeutic candidate, and this non-convertible financing provides the resources necessary to propel its continued advancement, while reflecting confidence in the strength of our clinical progress and regulatory strategy.” Stenoparib has demonstrated durable clinical benefit in heavily pre-treated ovarian cancer patients, including pr...