Allarity Therapeutics advances ovarian cancer drug trial

BOSTON - Allarity Therapeutics, Inc. (NASDAQ: ALLR), a micro-cap biopharmaceutical company valued at $4.79 million, has announced a new protocol for its ongoing clinical trial of stenoparib, a potential treatment for advanced ovarian cancer. According to InvestingPro analysis, the company’s stock has declined over 99% in the past year, though current metrics suggest it may be undervalued relative to its potential. The protocol aims to refine patient selection and optimize dosage to enhance the drug’s effectiveness and support regulatory approval efforts.

The company’s latest clinical strategy will focus on enrolling patients with advanced, recurrent, platinum-resistant ovarian cancer—a group that has shown promising responses to stenoparib in existing trials. These patients currently have limited options following standard chemotherapy.

The new trial will also investigate stenoparib’s impact on the Wnt pathway, which is often involved in advanced ovarian and other cancers, such as colon cancer. Understanding stenoparib’s mechanism in regulating this pathway could further differentiate it as a cancer treatment.

Additionally, the trial will seek to improve Allarity’s Drug Response Predictor (DRP®) platform, which is designed to identify patients most likely to benefit from stenoparib. A DRP score will be assessed for all participants, aiming to generate data that could support the DRP as a companion diagnostic for stenoparib. Despite challenging market conditions, InvestingPro data shows the company maintains a healthy current ratio of 2.75, indicating sufficient liquidity to fund its ongoing operations.

Allarity has reported sustained clinical benefits from stenoparib in advanced ovarian cancer patients, with some remaining on therapy for over 14 months. These findings have prompted the company to pursue an accelerated regulatory path for the drug’s development.

Patient enrollment for the new trial protocol is expected to begin in the first half of 2025, pending regulatory review. The trial will initially recruit at leading U.S. sites, with the potential to include U.K. sites as needed.

Stenoparib, an orally available dual-targeted inhibitor of PARP1/2 and tankyrase 1/2, has shown potential in treating various cancer types. Allarity holds exclusive global rights to develop and commercialize the drug, which was originally developed by Eisai Co (OTC:ESAIY). Ltd.

This advancement is based on a press release statement from Allarity Therapeutics, and it marks a significant step in the company’s efforts to provide new treatment options for patients with advanced ovarian cancer. Investors anticipating the company’s next moves can mark their calendars for March 11, 2025, when Allarity is scheduled to report earnings. For deeper insights into Allarity’s financial health and growth prospects, including 8 additional ProTips and comprehensive financial metrics, visit InvestingPro.

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