Allarity Therapeutics appoints Jeff Ervin as new CFO

TARPON SPRINGS, Fla. - Allarity Therapeutics, Inc. (NASDAQ:ALLR), a micro-cap pharmaceutical company with a market capitalization of $15.23 million, announced Monday the appointment of Jeff Ervin as its new Chief Financial Officer, replacing Alexander Epshinsky who will remain with the company during a transition period. According to InvestingPro data, the company maintains more cash than debt on its balance sheet, though it faces challenges with rapid cash burn.

Ervin brings nearly two decades of executive leadership experience to the clinical-stage pharmaceutical company. He most recently served as Co-Chief Financial Officer at NYSE-listed DayDayCook and previously led NASDAQ-listed IMAC Holdings as CEO, where he managed the company’s public listing and national expansion. His appointment comes at a crucial time for Allarity, whose stock has seen a significant decline of 83.7% over the past year, though it has shown strong returns in recent months.

The new CFO currently serves on the board of directors of NASDAQ-listed Cingulate Inc., a biopharmaceutical company developing treatments for Attention Deficit Hyperactivity Disorder. He holds an MBA from Vanderbilt University’s Owen Graduate School of Management and a BS in Finance from Miami University.

According to the company’s press release, Ervin has entered into a half-time employment agreement with Allarity, with full-time employment to be considered periodically based on the company’s needs.

"His strong track record in public company leadership and financial management aligns well with our mission to accelerate the clinical development of stenoparib," said Thomas Jensen, Chief Executive Officer of Allarity Therapeutics.

Allarity is focused on developing stenoparib, a dual PARP and WNT pathway inhibitor, as a personalized cancer treatment. The company utilizes its proprietary Drug Response Predictor technology to select patients who may benefit from specific drug treatments based on the gene expression signature of their cancer.

The Phase 2 clinical-stage company is headquartered in the U.S. with a research facility in Denmark. InvestingPro analysis reveals the company maintains a healthy current ratio of 2.66, indicating strong short-term liquidity, though its overall financial health score remains fair. Subscribers to InvestingPro can access 10+ additional financial tips and detailed metrics to better understand the company’s financial position and growth potential.

In other recent news, Allarity Therapeutics announced that IP Australia has accepted its patent application for the Drug Response Predictor (DRP) companion diagnostic specific to stenoparib, marking a significant step in its international patent strategy. The company is advancing stenoparib through Phase 2 clinical trials, aiming for U.S. regulatory approval. Furthermore, Allarity has appointed Jesper Høiland, a seasoned pharmaceutical executive, to its Board of Directors, bringing over 30 years of industry experience. In a strategic move, Allarity has partnered with the Indiana Biosciences Research Institute to enhance the understanding of stenoparib’s dual mechanism of action, potentially aiding in marketing approval efforts. Additionally, Allarity unveiled a new DRP for daratumumab, a treatment for multiple myeloma, at the American Association for Cancer Research Annual Meeting. This development represents the company’s first DRP for an antibody therapy, expanding the versatility of its DRP platform. These recent developments highlight Allarity’s commitment to advancing cancer treatment through data-driven approaches and strategic collaborations.

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