Allarity Therapeutics (ALLR) Announces 1:30 Reverse Share Split

Allarity Therapeutics, Inc. (NASDAQ: ALLR), a clinical-stage pharmaceutical company dedicated to developing personalized cancer treatments, today 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 (the “Reverse Stock Split”), 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.

Thomas Jensen, CEO of Allarity Therapeutics, commented, “We are committed to maintaining our Nasdaq listing and are taking decisive steps to meet the exchange’s requirements. By implementing this reverse stock split, we are mitigating the risks of delisting and positioning Allarity to further advance our unique precision medicine approach. Stenoparib has shown promising clinical benefit in patients with advanced ovarian cancer, who have exhausted other treatment options. Our focus remains on progressing the development of stenoparib, while ensuring we comply with Nasdaq’s regulatory standards.”

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