Summary by Moomoo AI
Allarity Therapeutics Inc. has announced an amendment to its Sales Agreement with Ascendiant Capital Markets, LLC, increasing the total amount of common stock it may offer and sell to $20,000,000. This update, detailed in a prospectus supplement filed on May 6, 2024, follows the company's public float surpassing $75.0 million on May 2, 2024, which lifted the previous sales limitation under General Instruction I.B.6 of Form S-3. Prior to this amendment, Allarity Therapeutics was restricted to selling up to $18,000,000 worth of common stock. As of May 2, 2024, the company had already sold 10,835,422 shares for gross proceeds of $16,054,081. The new prospectus supplement allows for the sale of additional shares up to the new $20,000,000 limit, inclusive of the gross proceeds already obtained through the Sales Agreement.