Allarity regains compliance with NASDAQ minimum bid price requirement

Allarity Therapeutics announced that on April 27, 2024, it received formal notice from The Nasdaq Stock Market, LLC’s Office of General Counsel. This notice confirmed that the Company has regained compliance with the minimum bid price requirement as set forth in Nasdaq’s Listing Rule 5550(a)(2). Nasdaq noted that since April 9, 2024, Allarity’s stock has maintained a closing bid price above $1.00 per share for more than ten consecutive trading days, thereby meeting the requirements for regaining compliance. Thomas Jensen, CEO of Allarity Therapeutics, stated, “We are very pleased to announce NASDAQ’s confirmation of our compliance with the minimum bid price requirement. Looking at the bigger picture, we are filled with optimism about the clinical potential of our lead asset in the area of advanced ovarian cancer, given the very promising early data that we have received from our ongoing phase 2 stenoparib trial. I am also very optimistic about demonstrating full compliance with the Nasdaq Listing Rule 5550(b)(1) which requires a minimum stockholders’ equity on a timely basis. Most importantly, we expect to continue to dedicate all our resources to the continued development of stenoparib, aiming to change lives by addressing the urgent needs of advanced ovarian cancer patients who urgently require new and better treatment options.”