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Allarity Therapeutics | 8-K: Current report

SEC announcement ·  May 6 21:33
Summary by Futu AI
Allarity Therapeutics, Inc. (NASDAQ: ALLR), a clinical-stage biopharmaceutical company, has announced that it has exceeded the Nasdaq's minimum stockholders' equity requirement of $2.5 million, as per Nasdaq Listing Rule 5550(b)(1). The company reported on May 6, 2024, that its stockholders' equity is significantly above the threshold, indicating regained compliance with the equity rule. Allarity is now awaiting formal confirmation from Nasdaq regarding its compliance status. Concurrently, Allarity has decided to withdraw its Registration Statement on Form S-1, initially filed with the SEC on October 30, 2023. This move comes after a reassessment of the company's financial position and recent improvements in equity status. CEO Thomas Jensen expressed confidence in the company's regulatory alignment and its focus on advancing stenoparib, a therapy for advanced ovarian cancer, using its proprietary Drug Response Predictor (DRP®) companion diagnostic. The company plans to disclose the updated equity amount in its upcoming Form 10-Q, expected to be filed on May 14, 2024, which will provide detailed financial insights to stockholders.
Allarity Therapeutics, Inc. (NASDAQ: ALLR), a clinical-stage biopharmaceutical company, has announced that it has exceeded the Nasdaq's minimum stockholders' equity requirement of $2.5 million, as per Nasdaq Listing Rule 5550(b)(1). The company reported on May 6, 2024, that its stockholders' equity is significantly above the threshold, indicating regained compliance with the equity rule. Allarity is now awaiting formal confirmation from Nasdaq regarding its compliance status. Concurrently, Allarity has decided to withdraw its Registration Statement on Form S-1, initially filed with the SEC on October 30, 2023. This move comes after a reassessment of the company's financial position and recent improvements in equity status. CEO Thomas Jensen expressed confidence in the company's regulatory alignment and its focus on advancing stenoparib, a therapy for advanced ovarian cancer, using its proprietary Drug Response Predictor (DRP®) companion diagnostic. The company plans to disclose the updated equity amount in its upcoming Form 10-Q, expected to be filed on May 14, 2024, which will provide detailed financial insights to stockholders.
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