Allarity Therapeutics Hit By SEC Notice Related Disclosures Of Once Lead Cancer Program
Portfolio Pulse from Vandana Singh
Allarity Therapeutics Inc (NASDAQ:ALLR) received a Wells Notice from the SEC regarding disclosures about their NDA for Dovitinib. The notice suggests potential legal action but is not a formal charge. The company plans to respond formally and has proposed a reverse stock split to regain NASDAQ compliance. Allarity will focus on advancing stenoparib and has a financial runway extending into 2026.
July 22, 2024 | 4:30 pm
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Allarity Therapeutics received a Wells Notice from the SEC regarding disclosures about their NDA for Dovitinib. The notice suggests potential legal action but is not a formal charge. The company plans to respond formally and has proposed a reverse stock split to regain NASDAQ compliance.
The Wells Notice from the SEC indicates potential legal action, which could negatively impact investor sentiment and the stock price. The proposed reverse stock split is an attempt to regain NASDAQ compliance, but the overall news is likely to be viewed negatively in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100