Allarity Therapeutics reported a net loss of $17.1 million for Q3 2024, compared to $10.2 million in Q3 2023. The company recorded a significant $9.7 million impairment charge on its stenoparib intangible assets after halting enrollment in the ongoing Phase 2 trial. Revenue remained minimal as the company continues to focus on research and development activities.Research and development expenses decreased to $4.2 million for the nine months, down from $4.5 million in the prior year period, while general and administrative expenses declined to $6.0 million from $7.8 million. The company strengthened its cash position to $18.5 million as of September 30, 2024, through ATM offerings that generated net proceeds of $33.1 million during the nine-month period.Looking ahead, management believes current cash reserves are sufficient to fund operations for at least the next 12 months. The company is now focusing on developing a follow-on trial for stenoparib with FDA regulatory intent, while facing ongoing challenges including an SEC investigation and a class action lawsuit related to previous disclosures about its Dovitinib NDA.

Allarity Therapeutics reported a net loss of $17.1 million for Q3 2024, compared to $10.2 million in Q3 2023. The company recorded a significant $9.7 million impairment charge on its stenoparib intangible assets after halting enrollment in the ongoing Phase 2 trial. Revenue remained minimal as the company continues to focus on research and development activities.Research and development expenses decreased to $4.2 million for the nine months, down from $4.5 million in the prior year period, while general and administrative expenses declined to $6.0 million from $7.8 million. The company strengthened its cash position to $18.5 million as of September 30, 2024, through ATM offerings that generated net proceeds of $33.1 million during the nine-month period.Looking ahead, management believes current cash reserves are sufficient to fund operations for at least the next 12 months. The company is now focusing on developing a follow-on trial for stenoparib with FDA regulatory intent, while facing ongoing challenges including an SEC investigation and a class action lawsuit related to previous disclosures about its Dovitinib NDA.