Allarity regains compliance with Nasdaq minimum stockholder equity requirement

Allarity Therapeutics announced that it has received formal written notice from The Nasdaq Stock Market’s Office of General Counsel that the Company has regained compliance with the minimum stockholders’ equity requirement as set forth in Nasdaq Listing Rule 5550(b)(1). This confirmation follows the Company’s successful efforts to cut operation costs and improve its balance sheet, including raising new equity and reducing outstanding liabilities. Thomas Jensen, CEO of Allarity Therapeutics, stated, “We are very pleased to announce that Allarity has regained compliance with Nasdaq’s equity requirement. During our panel hearing with Nasdaq in February this year, we presented a strategic plan to achieve this goal, and I am satisfied to note that we have successfully delivered on our commitments and received formal confirmation from Nasdaq. This allows us to continue focusing on our mission to advance our lead asset, stenoparib, toward regulatory approval with the aim of bringing this promising therapy to patients in need of new treatment options for advanced ovarian cancer.”