Allarity takes step toward regaining Nasdaq compliance

Allarity Therapeutics announced that the Company is taking a decisive step toward regaining compliance with Nasdaq’s listing requirements, as outlined by the Nasdaq Hearings Panel during a meeting on August 15, 2024. At the meeting, the Nasdaq Hearings Panel approved Allarity’s plan to maintain its listing, contingent upon the Company securing shareholder approval for a reverse stock split by September 6, 2024. This approval was granted by Allarity’s shareholders at the Company’s Annual Meeting of Stockholders on September 3, 2024. The Board of Directors has since approved the implementation of a 1-for-30 Reverse Stock Split of its outstanding shares of common stock, which took effect at 12:01am Eastern Time today, September 11, 2024. The Company’s common stock will begin trading on a split-adjusted basis when the market opens today.