Allarity Therapeutics Inc. (ALLR), a clinical-stage pharmaceutical company, on Friday announced its first quarter financial results, and provided updates on clinical trials for stenoparib in treating cancer.
Q1 2026:
Allarity recorded a net loss of $2.75 million, or $0.17 per share in the first quarter, while in the same period of 2025 the net loss was $2.73 million, or $0.25 per share. Losses were incurred due to expenditure on the active pharmaceutical ingredient (API) campaign for stenoparib.
Research and development expenses (R&D) were $1.29 million, compared to the $1.40 million reported in the previous year, due to reduced preclinical costs.
Cash and cash equivalents on March 31, 2026, amounted to $29.81 million.
In the first quarter, the company closed a promissory note financing of $20 million and secured an equity line of credit of $6 million.
Pipeline Highlights:
The company is developing stenoparib, an orally available, small-molecule dual-targeted inhibitor of PARP1/2 and tankyrase 1/2, used to target various cancer types.
Enrollment and dosing were initiated in a Phase 2 trial for the treatment of relapsed small cell lung cancer, using stenoparib in combination with temozolomide. Stenoparib is also being evaluated in the treatment of colorectal cancer and was granted a fast-track designation for the treatment of ovarian cancer from the U.S. Food and Drug Administration (FDA).
The drug production campaign for stenoparib is reportedly on track to completion by the third quarter of this year.
ALLR is currently trading at $1.41, up 4.44%.
For comments and feedback contact: editorial@rttnews.com
Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.