Allarity Therapeutics closes recapitalization, shares


Press release

Cambridge, MA, United States (December 21, 2021) – Allarity Therapeutics, Inc. (“Allarity” or the “Company”), a clinical-stage biopharmaceutical company developing novel oncology therapies with drug-specific DRP® Companion Diagnostics for Personalized Cancer Care, today announced the closing of its recapitalization share exchange resulting from its first public listing of 8,075,824 common shares and its listing on the U.S. stock exchange Nasdaq under the symbol commercial “ALLR”.

Concurrently with the closing of its recapitalization share exchange, the Company closed a $ 20 million PIPE investment, in which the Company issued 20,000 preferred shares (“Preferred Shares”) at $ 1,000 per share and a common stock purchase warrant (the “Warrant”) to purchase 2,018,958 common stock from 3i, LP, a Delaware limited partnership.

A Share Exchange Recapitalization registration statement, previously filed with the Securities and Exchange Commission (“SEC”), came into effect on November 5, 2021. An additional registration statement was filed on September 13, 2021 and declared effective by the SEC on December 20, 2021, with respect to the resale of Allarity common shares issued upon the conversion of our preferred shares or the exercise of the warrant. Copies of the registration statements can be viewed on the Securities and Exchange Commission website at www.sec.gov.

LifeSci Capital acted as the exclusive placement agent for the PIPE investment.

This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any state or other jurisdiction where such an offer, solicitation or sale would be illegal before registration. or qualification under the securities laws of any such state or jurisdiction.

About Allarity Therapeutics

Allarity Therapeutics, Inc. (Nasdaq: ALLR) develops personalized cancer treatment drugs guided by its proprietary and highly validated companion diagnostic technology, the DRP® Platform. The Company has a mature portfolio of five drug candidates, including: Stenoparib, a PARP inhibitor in Phase 2 development for ovarian cancer; Dovitinib, a pan-TKI in preparation for an NDA submission to the FDA for the 3e online treatment of renal cell carcinoma; IXEMPRA® (Ixabepilone), a microtubule inhibitor approved in the United States for the treatment of 2sd metastatic breast cancer in line and in Phase 2 development, in Europe, for the treatment of the same indication; LiPlaCis®, a liposomal formulation of cisplatin in phase 2 development for metastatic breast cancer; and 2X-111, a liposomal formulation of doxorubicin in phase 2 development for metastatic breast cancer and / or glioblastoma multiforme (GBM). LiPlaCis® and the 2X-111 programs are associated, via an external license, with Smerud Medical Research International AS. In 2021, Allarity resold the worldwide rights to Irofulven, a phase 2 DNA damaging agent for prostate cancer, to Lantern Pharma, Inc. The company has an R&D center in Hoersholm, Denmark. For more information, please visit the company’s website at www.Allarity.com

About the Drug Response Predictor – DRP® Companion diagnosis

Allarity uses its drug-specific DRP® to select patients who, by the genetic signature of their cancer, have a high probability of responding to the specific drug. By screening patients before treatment and only treating patients with a sufficiently high DRP® score, the therapeutic response rate can be significantly increased. PRD® The method is based on the comparison of sensitive and resistant human cancer cell lines, including transcriptomic information from cell lines combined with clinical tumor biology filters and previous clinical trial results. PRD® is based on messenger RNA from patient biopsies. PRD® The platform has proven its ability to provide a statistically significant prediction of the clinical outcome of drug therapy in cancer patients in 37 of the 47 clinical studies reviewed (both retrospective and prospective), including the ongoing prospective phase 2 trials of Stenoparib. and IXEMPRA®. PRD® The platform, which can be used in all types of cancer and is patented for more than 70 anti-cancer drugs, has been widely published in the peer-reviewed literature.

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Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide Allarity’s current expectations or forecasts regarding future events. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intention”, “could”, “could”, “predict”, “project” , “Should”, “should” and similar expressions may identify forward-looking statements, but the absence of such words does not mean that a statement is not forward-looking. These forward-looking statements include, without limitation, statements relating to the Company’s NDA submission for dovitinib and its PMA submission for the drug-specific DRP.® companion diagnostic for dovitinib, any statement relating to ongoing clinical trials for stenoparib for the treatment of advanced ovarian cancer, or ongoing clinical trials (in Europe) for IXEMPRA® for the treatment of metastatic breast cancer, and statements regarding the efficacy of the Company’s DRP® Companion diagnostic platform to predict whether a particular patient is likely to respond to a specific drug. All forward-looking statements contained in this press release are based on management’s current expectations regarding future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those stated or implied by these forward-looking statements. statements. These risks and uncertainties include, but are not limited to, the risk that the results of a clinical study do not necessarily predict the final outcome and that one or more of the clinical outcomes may change significantly as a result of more comprehensive reviews of patients. data, and as more patient data becomes available, the risk that the results of a clinical study are subject to interpretation and further analysis may be required and / or may contradict those results, obtaining approval regulatory for dovitinib or one of our other therapeutic candidates or, if approved, the successful commercialization of these products, the risk of discontinuation or delay of any of the ongoing or planned clinical trials and / or of our development of our product candidates, the risk that the results of previously conducted studies will not be repeated or observed in current or future studies. nt our therapeutic candidates, and the risk that the current COVID-19 pandemic will impact the Company’s current and future clinic, all trials and timing of preclinical studies and other Company operations. For a discussion of other risks and uncertainties, and other important factors, each of which could cause our actual results to differ from those contained in forward-looking statements, see the section entitled “Risk Factors” in our registration statement. form S-1. filed with the Securities and Exchange Commission, available on the Securities and Exchange Commission 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 Securities and Exchange Commission. All information in this press release is as of the date of publication, and the Company does not undertake to update this information, except as required by law.

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Company details :

Jens knudsen
Financial director
investor [email protected]

Investor Relations:

Chuck padala
LifeSci Advisors
+1 (646) 627-8390
[email protected]

Media contact in the United States:

Mike Beyer
Sam Brown, Inc.
+1 (312) 961-2502
[email protected]

Contact with EU media:

Thomas pedersen
Carrotize public relations and communications
+45 6062 9390
[email protected]

  • Allarity PR Nasdaq listing in December 2021



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