Allarity reports progress in Phase 2 stenoparib trial

Allarity (ALLR) Therapeutics provided a corporate update highlighting three significant developments: extended treatment duration for patients in its ongoing Phase 2 stenoparib trial, a strengthened cash position supporting initiation of a follow-up FDA registrational trial, and new revenue-generating activities from Allarity’s laboratory services. Two patients in Allarity’s Phase 2 clinical trial of stenoparib for advanced, recurrent ovarian cancer have now been on treatment for over 14 months, a remarkable duration of benefit given the heavily pretreated status of these patients. This extended duration further reinforces the potential of stenoparib as a promising treatment option for advanced ovarian cancer patients who have already undergone multiple lines of therapy, including prior PARP inhibitors. With a cash balance of $18.5 million as of September 30, 2024, Allarity Therapeutics is well-positioned to advance its clinical development programs. This solid financial foundation enables the Company to confidently initiate the next trial to advance stenoparib toward FDA registration. Allarity Therapeutics is also pleased to announce that its in-house Allarity Medical Laboratory has expanded from solely focusing on supporting internal drug development to securing external service agreements, with multiple biotech companies now leveraging the Company’s advanced gene expression and diagnostic capabilities. This important expansion positions Allarity Medical Laboratory as a direct provider of revenue-generating, high-precision genomic services, establishing it as a valuable complementary asset for the Company. These service agreements include contracts for both Drug Response Predictor analysis and comprehensive gene expression services, reflecting Allarity’s leading technology and ability to provide insights to other innovators in the biotech field. The revenue generated from such agreements significantly reduce Allarity’s overall laboratory cost base while advancing the position of Allarity’s proprietary DRP platform within the industry and supporting broader scientific advancements in oncology.