What's Going On With Allarity Therapeutics Stock?

Allarity Therapeutics Inc ALLR shares are trading higher Thursday. The company published clinical data in a peer-reviewed journal late Wednesday.

What Happened: Allarity published a clinical validation of a novel drug-specific DRP-companion diagnostic (CDx) for dovitinib in PLOS ONE Wednesday around market close. The data highlighted a subgroup of advanced renal cell carcinoma (RCC) patients that have improved clinical benefit from treatment with dovitinib.

"Having our work published in PLOS ONE underscores the importance and potential impact of our DRP^®-Dovitinib CDx in oncology," said Steen Knudsen, study author and chief scientific officer of Allarity.

"This is the first validated predictive biomarker in renal cell carcinoma, a long-standing goal in potentially improving the treatment of these patients."

Dovitinib is a pan-targeted kinase inhibitor that was developed through Phase 3 clinical studies. The DRP-Dovitinib CDx is a complex transcriptomic signature comprising 58 mRNA biomarkers that can predict tumor response to the drug. An additional prospective trial would be required before patient use.

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ALLR Price Action: Allarity shares were up 6.92% at $1.70 at the time of publication, according to Benzinga Pro.

Photo: Lorenzo Cafaro from Pixabay.