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Allarity Therapeutics Regains Compliance with NASDAQ Minimum Bid Price Requirement
Boston (October 10, 2024) — Allarity Therapeutics, Inc. (“Allarity” or the “Company”) (NASDAQ: ALLR), a clinical-stage pharmaceutical company dedicated to
About this update from Allarity Therapeutics, Inc.
[{"type":"text","content":"Boston (October 10, 2024) — Allarity Therapeutics, Inc. (“Allarity” or the “Company”) (NASDAQ: ALLR), a clinical-stage pharmaceutical company dedicated to developing personalized cancer treatments, today announced that on October 9, 2024, it received a formal notice from The Nasdaq Stock Market, LLC’s Office of General Counsel (“Nasdaq”). The notice confirmed that the Company has regained compliance with the minimum bid price requirement as set forth in Nasdaq’s Listing Rule 5550(a)(2) (the “Bid Price Rule”). Nasdaq noted that since September 11, 2024, Allarity’s stock has maintained a closing bid price of $1.00 or more for 20 consecutive trading days, thereby meeting the requirements for regaining compliance with the Bid Price Rule. Thomas Jensen, CEO of Allarity Therapeutics, stated, “We are pleased to report that Nasdaq has recognized our compliance with the minimum bid price requirement. With the resolution of this compliance issue, we can continue to build upon the great progress made during 2024 by concentrating our resources on advancing the stenoparib program, where the Phase 2 trial in advanced ovarian cancer has continued to deliver encouraging data. Our focus remains on progressing this novel therapy, as new treatment options are urgently needed for advanced ovarian cancer patients, who currently face very limited alternatives.”About StenoparibStenoparib is an orally available, small-molecule dual-targeted inhibitor of PARP1/2 and Tankyrase 1 and 2. At present, tankyrases are attracting significant attention as emerging therapeutic targets for cancer, principally due to their role in regulating the Wnt signaling pathway. Aberrant Wnt/β-catenin signaling has been implicated in the development and progression of numerous cancers. By inhibiting PARP and blocking Wnt pathway activation, stenoparib’s unique therapeutic action shows potential as a promising therapeutic. Allarity has exclusive global rights for the development and commercialization of stenoparib, which was originally developed by Eisai Co. Ltd. and was formerly known under the names E7449 and 2X-121. 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 ...