Summary by Moomoo AI
On May 7, 2024, Allarity Therapeutics, Inc. (NASDAQ: ALLR), a clinical-stage biopharmaceutical company, announced significant changes to its capital structure. The company reported the investor-initiated conversion of all outstanding Series A Preferred Stock into common stock, resulting in a single class of shares. Additionally, 93% of outstanding warrants, including all variable-priced warrants, were converted, leaving only a limited number of warrants unexercised. The company also announced the full repayment of all bridge notes, which included both principal and accrued interest. The CEO of Allarity Therapeutics, Thomas Jensen, highlighted the simplification of the financial structure as a key milestone that could enhance the stock's attractiveness and allow the company to focus more on its lead asset, stenoparib, in its ongoing phase 2 clinical trial for advanced ovarian cancer.
