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Investing.com - Ascendiant Capital initiated coverage on Allarity Therapeutics Inc . (NASDAQ:ALLR) with a Buy rating and a $9.00 price target on Monday, adding to the growing interest in the biotechnology sector.
The clinical-stage biopharmaceutical company specializes in developing anti-cancer therapeutics using precision medicine, particularly through its Drug Response Predictor (DRP) platform technology.
The DRP platform is designed to identify gene expression signatures in cancer cells that predict sensitivity to specific cancer therapeutics, helping to target treatments to patients most likely to benefit.
Allarity’s main drug in development is Stenoparib, which is currently in a Phase 2 clinical trial for the treatment of ovarian cancer.
The company expanded its Stenoparib clinical program in March 2025 by announcing a new Phase 2 clinical trial for the treatment of recurrent Small Cell Lung Cancer (SCLC).
In other recent news, Allarity Therapeutics has made several significant announcements. The company reported a change in its executive leadership, appointing Jeff Ervin as the new Chief Financial Officer following the resignation of Alexander Epshinsky. Ervin brings nearly two decades of experience, having held leadership roles at DayDayCook and IMAC Holdings. In addition, Allarity Therapeutics received patent acceptance in Australia for its Drug Response Predictor companion diagnostic specific to stenoparib, marking a step in protecting its DRP platform internationally. The patent is expected to be granted after a three-month opposition period. Furthermore, Jesper Høiland has joined Allarity’s Board of Directors, bringing over 30 years of pharmaceutical industry experience. The company also announced a research collaboration with the Indiana Biosciences Research Institute to enhance understanding of stenoparib’s dual mechanism of action. This partnership aims to support potential marketing approval efforts for the drug, currently in Phase 2 trials.
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