Business
Correction Notice to Press Release Announcing Financial Results For the Fourth Quarter and Full Year 2021 Financial Results and Corporate Update
Cambridge, MA U.S.A. (May 18, 2022) — Allarity Therapeutics, Inc. (NASDAQ: ALLR) announced today that its press release issued under the headline “Allarity
About this update from Allarity Therapeutics, Inc.
[{"type":"text","content":"Cambridge, MA U.S.A. (May 18, 2022) — Allarity Therapeutics, Inc. (NASDAQ: ALLR) announced today that its press release issued under the headline “Allarity Therapeutics Reports Fourth Quarter and Full Year 2021 Financial Results and Provides a Corporate Update” on May 16, 2022, included a typographical error in the section titled “Full Year 2021 and Recent Highlights”, describing the size of the debt cancellation which should have read “$971 thousand” instead of “$971 million.” The corrected paragraph is set forth below: Full Year 2021 and Recent Highlights In March 2022, entered into two agreements amending the LiPlaCis® program. As a result of this amendment, Allarity will be exempt from any future financial obligation associated with the further development of LiPlaCis®, including the cancellation of outstanding liability of $971 thousand. Allarity will also maintain its ability to receive possible future milestone payments of up to $3.5 million About Allarity Therapeutics Allarity Therapeutics, Inc. (Nasdaq: ALLR) develops drugs for personalized treatment of cancer guided by its proprietary and highly validated companion diagnostic technology, the DRP® platform. The Company has a mature portfolio of five drug candidates: stenoparib, a PARP inhibitor in Phase 2 development for ovarian cancer; dovitinib, a post-Phase 3 pan-tyrosine kinase inhibitor; IXEMPRA® (Ixabepilone), a microtubule inhibitor approved in the U.S. for the treatment of second-line metastatic breast cancer and in Phase 2 development in Europe for the same indication; and 2X-111, a liposomal formulation of doxorubicin in Phase 2 development for metastatic breast cancer and/or glioblastoma multiforme (GBM), which is the subject of discussions for a restructured out-license to Smerud Medical Research International AS. LiPlaCis®, a liposomal formulation of cisplatin and its accompanying DRP® is being developed via a partnership with Chosa ApS, an affiliate of Smerud Medical Research International, for late-stage metastatic breast cancer. The Company is headquartered in the United States and maintains an R&D facility in Hoersholm, Denmark. For more information, please visit the Company’s website at www.Allarity.com About the Drug Response Predictor – DRP® Companion Diagnostic Allarity uses its drug-specific DRP® to select those patients who, by the genetic signatu...