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TARPON SPRINGS, Fla. - Allarity Therapeutics, Inc. (NASDAQ:ALLR), a micro-cap biotech company with a market capitalization of $15.08 million, announced Monday that IP Australia has accepted its patent application for the Drug Response Predictor (DRP) companion diagnostic specific to stenoparib, the company’s dual PARP and WNT pathway inhibitor. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt, though it’s currently experiencing rapid cash burn.
The acceptance covers 40 claims and represents a step in Allarity’s strategy to protect its DRP platform internationally. The patent will be advertised in the Australian Official Journal of Patents on June 26, 2025, followed by a three-month opposition period. If unopposed, the patent is expected to be granted within 20 working days thereafter. While the stock has shown strong momentum with an 11.1% gain over the past week, InvestingPro analysis suggests the company faces profitability challenges, with analysts not expecting positive earnings this year.
"This latest patent acceptance from Australia represents another important achievement in our efforts to secure international IP protection for our DRP technology," said Thomas Jensen, CEO of Allarity Therapeutics, according to the company’s press release.
Allarity previously secured a European patent for the Stenoparib DRP and holds 18 granted patents for drug-specific DRPs, including eight in the United States. Patent applications for the Stenoparib DRP remain pending in the U.S., Canada, Japan, China, and India.
Stenoparib is an orally available inhibitor of PARP1/2 and tankyrase 1/2 that the company is developing for cancer treatment, including ovarian cancer. The company’s DRP technology aims to select patients who, based on the gene expression signature of their cancer, may have a higher likelihood of benefiting from specific drug treatments.
Allarity Therapeutics is currently advancing stenoparib through Phase 2 clinical trials as it works toward U.S. regulatory approval.
In other recent news, Allarity Therapeutics has announced several significant developments. The company reported a research collaboration with the Indiana Biosciences Research Institute to enhance the understanding of stenoparib, a cancer drug candidate currently in Phase 2 trials. This partnership aims to explore stenoparib’s dual mechanism of action, which may lead to new approaches for treating resistant cancers. Additionally, Allarity unveiled a new Drug Response Predictor (DRP®) for daratumumab, a monoclonal antibody used in multiple myeloma treatment, during the American Association for Cancer Research Annual Meeting. This DRP® aims to identify patients most likely to respond to the treatment, marking a significant expansion of their diagnostic platform.
In another update, Jesper Høiland has been appointed to Allarity’s Board of Directors, replacing Joseph Vazzano. Høiland brings over 30 years of pharmaceutical industry experience to the role. Furthermore, Allarity continues to focus on the development of stenoparib for advanced ovarian cancer, having secured exclusive global rights for its development and commercialization. These developments reflect Allarity’s ongoing commitment to advancing cancer treatment through innovative research and strategic partnerships.
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