Allarity Received A "Wells Notice" From SEC Relating To Its Disclosures Regarding Meetings With The FDA Regarding NDA For Dovitinib Or Dovitinib-DRP, Which Was Submitted In 2021. Allarity's Three Former Officers Have Received The Notice
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Allarity Therapeutics received a Wells Notice from the SEC regarding its disclosures about meetings with the FDA concerning its NDA for Dovitinib or Dovitinib-DRP. The company has a cash balance of $20 million, expected to last until 2026, and has paused its ATM usage. Additionally, Allarity's Stenoparib shows extended Phase 2 clinical benefits.
July 22, 2024 | 12:02 pm
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Allarity Therapeutics received a Wells Notice from the SEC regarding its disclosures about meetings with the FDA concerning its NDA for Dovitinib or Dovitinib-DRP. The company has a cash balance of $20 million, expected to last until 2026, and has paused its ATM usage. Additionally, Allarity's Stenoparib shows extended Phase 2 clinical benefits.
The Wells Notice from the SEC is a significant legal and regulatory issue that could negatively impact investor sentiment and the stock price in the short term. However, the company's strong cash position and positive clinical results for Stenoparib may provide some support.
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IMPORTANCE 90
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