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TARPON SPRINGS, Fla. - Allarity Therapeutics, Inc. (NASDAQ: ALLR) has appointed Jesper Høiland to its Board of Directors, effective as Joseph Vazzano resigns from the board on June 30, according to a company press release issued Wednesday. The micro-cap pharmaceutical company, currently valued at approximately $14 million, maintains a healthy balance sheet with more cash than debt, though InvestingPro data indicates rapid cash consumption.
Høiland, who has been serving as a strategic consultant to Allarity since October 2024, brings over 30 years of pharmaceutical industry experience to the clinical-stage company. His background includes executive leadership roles as President and EVP of Novo Nordisk’s U.S. operations, President and CEO of Radius Health, and Global Commercial Officer at Ascendis Pharma.
Currently, Høiland serves as Chairman of SciBase Holding AB and holds board positions at ALK-Abello A/S and Flen Health SA.
"We are pleased to welcome Jesper Høiland to the Allarity Board during a period of growing clinical momentum," said Jerry McLaughlin, Chairman of the Board of Directors at Allarity Therapeutics.
Allarity is developing stenoparib, a dual PARP and WNT pathway inhibitor, as a personalized cancer treatment. The company uses its proprietary Drug Response Predictor (DRP) 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 pharmaceutical company focuses particularly on developing stenoparib for advanced ovarian cancer patients. Allarity secured exclusive global rights for stenoparib, which was originally developed by Eisai Co. Ltd.
In other recent news, Allarity Therapeutics has reported promising results from its Phase 2 trial of stenoparib for advanced ovarian cancer, presented at the Society of Gynecologic Oncology Annual Meeting. The trial highlighted the drug’s effectiveness in patients with platinum-resistant ovarian cancer, with some experiencing prolonged benefits and one achieving a complete response lasting over 10 months. Additionally, Allarity has unveiled a new Drug Response Predictor (DRP®) for daratumumab, aimed at identifying multiple myeloma patients likely to respond to treatment. This development was showcased at the American Association for Cancer Research Annual Meeting, marking an expansion of Allarity’s DRP platform to antibody therapies.
In a separate development, Allarity has partnered with the Indiana Biosciences Research Institute to further investigate stenoparib’s dual mechanism of action. This collaboration aims to enhance understanding and support potential marketing approval efforts. The company is also working with Shareholder Intelligence Services to probe potential stock manipulation, focusing on illegal short selling and trading irregularities. Furthermore, Allarity has settled an SEC investigation regarding past FDA disclosures, agreeing to a $2.5 million civil penalty without admitting or denying the SEC’s findings. Despite these challenges, Allarity remains focused on advancing its clinical programs and maintaining its financial outlook.
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