Summary by Futu AI
Allarity Therapeutics, Inc. (Allarity), a clinical-stage biopharmaceutical company, reported its financial performance for the quarter ended March 31, 2024. The company experienced a net loss of $3.8 million, compared to a net loss of $3.4 million for the same period in the previous year. Research and development expenses increased by $743 thousand, primarily due to higher manufacturing and supplies expenses for their lead drug candidate, Stenoparib. General and administrative expenses decreased by $171 thousand, mainly due to lower insurance and legal costs. Other income for the quarter was $393 thousand, largely from a fair value adjustment to derivative and warrant liabilities. As of March 31, 2024, Allarity had cash reserves of $312 thousand and an accumulated deficit of $98.3 million. The company's cash position is not sufficient to fund...Show More