Allarity Therapeutics Inc. (ALLR.US), a biopharmaceutical company, has faced several challenges and developments in the third quarter of 2024. The company reported a net loss of $17.1 million for the nine months ended September 30, 2024, compared to a net loss of $10.2 million for the same period in 2023, indicating an increase in losses. As of September 30, 2024, Allarity had an accumulated deficit of $111.5 million and cash and cash equivalents of $18.5 million. The company's financial performance has been impacted by costs associated with research and development programs and general and administrative expenses. Allarity has also been involved in legal matters, including receiving a Wells Notice from the SEC and facing a class action lawsuit, both of which the company intends to defend vigorously. In...Show More

Allarity Therapeutics Inc. (ALLR.US), a biopharmaceutical company, has faced several challenges and developments in the third quarter of 2024. The company reported a net loss of $17.1 million for the nine months ended September 30, 2024, compared to a net loss of $10.2 million for the same period in 2023, indicating an increase in losses. As of September 30, 2024, Allarity had an accumulated deficit of $111.5 million and cash and cash equivalents of $18.5 million. The company's financial performance has been impacted by costs associated with research and development programs and general and administrative expenses. Allarity has also been involved in legal matters, including receiving a Wells Notice from the SEC and facing a class action lawsuit, both of which the company intends to defend vigorously. In terms of business development, Allarity has experienced a termination of a license agreement with Novartis and has amended its license agreement with Eisai Inc. for the development of stenoparib, a drug candidate for cancer and viral infections. The company has also undergone reverse stock splits to comply with Nasdaq's minimum bid price requirement and has sold shares through an At-The-Market Issuance Sales Agreement to raise funds. Looking forward, Allarity plans to continue advancing its drug candidate through clinical trials, pursue regulatory approval, and engage in research for new drug candidates.