Allarity Therapeutics Regains Compliance with NASDAQ Minimum Bid Price Requirement
29 Aprile 2024 - 1:00PM
Boston (April 29, 2024) — Allarity
Therapeutics, Inc. (“Allarity” or the “Company”) (NASDAQ: ALLR), a
clinical-stage pharmaceutical company dedicated to developing
personalized cancer treatments, today announced that on April 27,
2024, it received formal notice from The Nasdaq Stock Market, LLC’s
Office of General Counsel (“Nasdaq”). This notice confirmed that
the Company has regained compliance with the minimum bid price
requirement as set forth in Nasdaq’s Listing Rule 5550(a)(2) (the
“Bid Price Rule”). Nasdaq noted that since April 9, 2024,
Allarity’s stock has maintained a closing bid price above $1.00 per
share for more than ten consecutive trading days, thereby meeting
the requirements for regaining compliance.
Thomas Jensen, CEO of Allarity Therapeutics, stated, "We are
very pleased to announce NASDAQ’s confirmation of our compliance
with the minimum bid price requirement. Looking at the bigger
picture, we are filled with optimism about the clinical potential
of our lead asset in the area of advanced ovarian cancer, given the
very promising early data that we have received from our ongoing
phase 2 stenoparib trial. I am also very optimistic about
demonstrating full compliance with the Nasdaq Listing Rule
5550(b)(1) which requires a minimum stockholders’ equity on a
timely basis. Most importantly, we expect to continue to dedicate
all our resources to the continued development of stenoparib,
aiming to change lives by addressing the urgent needs of advanced
ovarian cancer patients who urgently require new and better
treatment options.”
About Allarity TherapeuticsAllarity
Therapeutics, Inc. (NASDAQ: ALLR) is a clinical-stage
biopharmaceutical company dedicated to developing personalized
cancer treatments. The Company is focused on development of
stenoparib, a novel PARP/Tankyrase inhibitor for advanced ovarian
cancer patients, using its DRP® companion diagnostic for patient
selection in the ongoing phase 2 clinical trial, NCT03878849.
Allarity is headquartered in the U.S., with a research facility in
Denmark, and is committed to addressing significant unmet medical
needs in cancer treatment. For more information, visit
www.allarity.com.
Follow Allarity on Social MediaLinkedIn:
https://www.linkedin.com/company/allaritytx/X:
https://twitter.com/allaritytx
Forward-Looking StatementsThis press release
contains “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements provide the Company’s current expectations or forecasts
of future events. The words “anticipates,” “believe,” “continue,”
“could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,”
“possible,” “potential,” “predicts,” “project,” “should,” “would”
and similar expressions may identify forward-looking statements,
but the absence of these words does not mean that a statement is
not forward-looking. These forward-looking statements include, but
are not limited to, statements relating to regaining compliance
with Nasdaq’s continued listing requirements, the timing and effect
thereof, reducing operating expenses, converting debt and raising
additional capital and the effectiveness of the Company’s DRP®
companion diagnostics platform in predicting whether a particular
patient is likely to respond to a specific drug. Any
forward-looking statements in this press release are based on
management’s current expectations of future events and are subject
to multiple risks and uncertainties that could cause actual results
to differ materially and adversely from those set forth in or
implied by such forward-looking statements. These risks and
uncertainties include, but are not limited to, the risk that the
Company is not able to effect a reverse stock split, reduce
operating expenses, convert debt and raise additional capital. For
a discussion of other risks and uncertainties, and other important
factors, any of which could cause our actual results to differ from
those contained in the forward-looking statements, see the section
entitled “Risk Factors” in our Form S-1 registration statement
filed on October 30, 2023, as amended and our Form 10-K annual
report on file with the Securities and Exchange Commission (the
“SEC”), available at the SEC’s website at www.sec.gov, and as well
as discussions of potential risks, uncertainties and other
important factors in the Company’s subsequent filings with the SEC.
All information in this press release is as of the date of the
release, and the Company undertakes no duty to update this
information unless required by law.
###
Company Contact:
investorrelations@allarity.com Media
Contact: Thomas
Pedersen Carrotize
PR &
Communications +45
6062 9390 tsp@carrotize.com
- Allarity Therapeutics - Regains Bid Price Rule Compliance
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