Summary by Moomoo AI
Allarity Therapeutics, Inc. (Allarity), a clinical-stage pharmaceutical company, reported its financial performance for the quarter ended June 30, 2024. The company experienced a net loss of $1.629 million for the quarter, a decrease from the $2.380 million loss in the same period the previous year. Research and development expenses slightly decreased by $47 thousand year-on-year to $1.058 million, while general and administrative expenses saw a more significant drop of $738 thousand to $2.313 million. The decrease in general and administrative expenses was attributed to cost-cutting measures, including reduced staffing costs. Other income for the quarter was $1.742 million, primarily due to a fair value adjustment to derivative liabilities. For the six-month period, the net loss was $5.476 million, a slight improvement from the $5.732 million loss...Show More
