Full Press Release Details
Correction Notice to Press Release
Announcing Financial Results For the
Fourth Quarter and Full Year 2021 Financial Results and Corporate Update
Cambridge, MA U.S.A. (May 18, 2022)
- Allarity Therapeutics, Inc. (NASDAQ: ALLR) announced today that its press release issued under the headline "Allarity
Therapeutics Reports Fourth Quarter and Full Year 2021 Financial Results and Provides a Corporate Update" on May 16, 2022, included
a typographical error in the section titled "Full Year 2021 and Recent Highlights", describing the size of the debt cancellation
which should have read "$971 thousand" instead of "$971 million." The corrected paragraph is set forth below:
Full Year 2021 and Recent Highlights
About Allarity Therapeutics
Allarity Therapeutics, Inc. (Nasdaq: ALLR)
develops drugs for personalized treatment of cancer guided by its proprietary and highly validated companion diagnostic technology, the
DRP platform. The Company has a mature portfolio of five drug candidates: stenoparib, a PARP inhibitor in Phase 2 development
for ovarian cancer; dovitinib, a post-Phase 3 pan-tyrosine kinase inhibitor; IXEMPRA (Ixabepilone), a microtubule inhibitor
approved in the U.S. for the treatment of second-line metastatic breast cancer and in Phase 2 development in Europe for the same indication;
and 2X-111, a liposomal formulation of doxorubicin in Phase 2 development for metastatic breast cancer and/or glioblastoma multiforme
(GBM), which is the subject of discussions for a restructured out-license to Smerud Medical Research International AS. LiPlaCis ,
a liposomal formulation of cisplatin and its accompanying DRP is being developed via a partnership with Chosa ApS, an
affiliate of Smerud Medical Research International, for late-stage metastatic breast cancer. The Company is headquartered in the United
States and maintains an R&D facility in Hoersholm, Denmark. For more information, please visit the Company's website at www.Allarity.com
Allarity Therapeutics, Inc. | 210 Broadway, #201 | Cambridge, MA |
U.S.A. | NASDAQ: ALLR | www.allarity.com
the Drug Response Predictor - DRP Companion Diagnostic
Allarity uses its drug-specific DRP
to select those patients who, by the genetic signature of their cancer, are found to have a high likelihood of responding to the specific
drug. By screening patients before treatment, and only treating those patients with a sufficiently high DRP score, the
therapeutic response rate can be significantly increased. The DRP method builds on the comparison of sensitive vs. resistant
human cancer cell lines, including transcriptomic information from cell lines combined with clinical tumor biology filters and prior clinical
trial outcomes. DRP is based on messenger RNA from patient biopsies. The DRP platform has proven its ability
to provide a statistically significant prediction of the clinical outcome from drug treatment in cancer patients in 37 out of 47 clinical
studies that were examined (both retrospective and prospective), including ongoing, prospective Phase 2 trials of Stenoparib and IXEMPRA .
The DRP platform, which can be used in all cancer types and is patented for more than 70 anti-cancer drugs, has been extensively
published in peer reviewed literature.
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Forward-Looking Statements
press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements provide Allarity's current expectations or forecasts of future events. The words
"anticipates," "believe," "continue," "could," "estimate,"
"expect," "intends," "may," "might," "plan," "possible,"
"potential," "predicts," "project," "should," "would" and similar
expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not
forward-looking. These forward-looking statements include, but are not limited to, " statements relating to the
Company's NDA submission for dovitinib and its PMA submission for the drug-specific DRP companion diagnostic
for dovitinib, any statements related to ongoing clinical trials for stenoparib for the treatment of advanced ovarian cancer, or
ongoing clinical trials (in Europe) for IXEMPRA for the treatment of metastatic breast cancer, and statements
relating to the effectiveness of the Company's DRP companion diagnostics platform in predicting whether a
particular patient is likely to respond to a specific drug. Any forward-looking statements in this press release are based on
management's current expectations of future events and are subject to a number of risks and uncertainties that could cause
actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks
and uncertainties include, but are not limited to, the risk that results of a clinical study do not necessarily predict final
results and that one or more of the clinical outcomes may materially change following more comprehensive reviews of the data, and as
more patient data become available, the risk that results of a clinical study are subject to interpretation and additional analyses
may be needed and/or may contradict such results, the receipt of regulatory approval for dovitinib or any of our other therapeutic
candidates or, if approved, the successful commercialization of such products, the risk of cessation or delay of any of the ongoing
or planned clinical trials and/or our development of our product candidates, the risk that the results of previously conducted
studies will not be repeated or observed in ongoing or future studies involving our therapeutic candidates, and the risk that the
current COVID-19 pandemic will impact the Company's current and future clinical trials and the timing of the Company's
preclinical studies and other operations. For a discussion of other risks and uncertainties, and other important factors, any of
which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled
"Risk Factors" in our Form 10-K for the year ended December 31, 2021 filed today with the Securities and Exchange
Commission, available at the Securities and Exchange Commission's website at www.sec.gov, and as well as discussions of
potential risks, uncertainties and other important factors in the Company's subsequent filings with the Securities and
Exchange Commission. All information in this press release is as of the date of the release, and the Company undertakes no duty to
update this information unless required by law.
Allarity Therapeutics, Inc. | 210 Broadway, #201 | Cambridge, MA |
U.S.A. | NASDAQ: ALLR | www.allarity.com
Chief Financial Officer investorrelations@allarity.com
Chuck Padala LifeSci Advisors
Mike Beyer Sam Brown, Inc.
Carrotize PR & Communications
Allarity Therapeutics, Inc. | 210 Broadway, #201 | Cambridge, MA |
U.S.A. | NASDAQ: ALLR | www.allarity.com