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

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 operations for the next twelve months, and they plan to seek additional funding through public equity, private equity, debt financing, or collaboration partnerships. Allarity has also been involved in several significant transactions, including a reverse stock split and the sale of common shares through an at-the-market equity offering program, which raised net proceeds of $20,610 from the sale of 14,352,186 shares of common stock post-quarter-end. The company's future plans include continuing the development of Stenoparib and seeking additional capital to fund operations and planned capital expenditures.