Allarity Therapeutics Inc (ALLR) News & EventsALLRAllarity Therapeutics Inc

Allarity Receives Patent Allowance Notice for Stenoparib Companion Diagnostic

Allarity announced that the United States Patent and Trademark Office has issued a notice of allowance for its patent application covering the company's DRP companion diagnostic specific to stenoparib. Importantly, this notice of allowance covers multiple claims and represents a major step in Allarity's global strategy to expand and protect the commercial potential of stenoparib when selecting patients using its proprietary stenoparib DRP test. The patent is expected to be formally granted within three months, subject to standard administrative procedures and would provide exclusivity at least into 2039 for stenoparib when used in concert with the DRP as a companion diagnostic.

Allarity Therapeutics Closes $20 Million Debt Financing

Allarity Therapeutics closed a $20 million non-convertible debt financing with Streeterville Capital. The transaction is structured as a note purchase agreement pursuant to which the Company issued two non-convertible promissory notes: a promissory note in the original principal amount of $10,930,000 and a secured promissory note in the original principal amount of $10,000,000, together providing approximately $20 million in net proceeds to the Company. The financing is expected to extend the Company's cash runway into the summer of 2028. The Company intends to use the proceeds primarily to support key initiatives designed to accelerate the advance of stenoparib toward pivotal development, FDA approval and commercialization.

Allarity Therapeutics Initiates SCLC Trial with Stenoparib and Temozolomide

Allarity Therapeutics announced that the first patients have been dosed with stenoparib and temozolomide in the VA-funded investigator-initiated Phase 2 trial for the treatment of relapsed small cell lung cancer, SCLC. This trial is being conducted in collaboration with the U.S. Department of Veterans Affairs and is fully funded through the VA's Special Emphasis Panel on Precision Oncology. Patient recruitment is ongoing across 11 VA medical centers throughout the United States. "We are pleased to report that these patients have now received the first doses of stenoparib in combination with temozolomide. We are encouraged by the speed of enrollment, which reflects enthusiasm for this combination as well as the significant unmet medical need in relapsed small cell lung cancer," said Thomas Jensen, Chief Executive Officer of Allarity Therapeutics. "Prior studies have combined PARP inhibitors and temozolomide with great early effect but were severely limited by the toxicities of the first-generation PARP inhibitors when combined with temozolomide. The clinical experience with stenoparib to date has shown that it is well tolerated and may therefore be an ideal agent for combination with temozolomide in relapsed SCLC."