Why Allarity Therapeutics Shares Are Soaring

Allarity Therapeutics Inc ALLR shares are trading higher on abnormally high volume Monday after the company said it dosed the first patient in its trial studying advanced solid tumors.

What To Know: Allarity has commenced a a two-part, open label multicenter Phase 1b clinical study evaluating the combination of stenoparib and dovitinib for the treatment of advanced solid tumors, including ovarian cancer.

The study will first evaluate stenoparib, a small molecule, dual-targeted inhibitor of Poly ADP-Ribose Polymerases and tankyrase 1 and 2, administered twice a day in participants. The second portion of the study will evaluate dovitinib, a pan-tyrosine kinase inhibitor, when given in combination with the maximum tolerated dose of stenoparib determined in the first cohort.

"Having investigated novel combinations of anticancer agents, including a PARP inhibitor and an anti-angiogenic therapeutic, we have seen improved efficacy. Combining a PARP inhibitor with a pan-tyrosine kinase (PTK) inhibitor, we are also anticipating efficacy in homologous recombination proficient tumors,"stated Kathleen Moore, principal investigator for Allarity's Phase 1b study.

Allarity has an average session volume of just over 2 million, according to Benzinga Pro. Monday's trading volume was already approaching 20 million at the time of writing. 

Allarity is a clinical-stage pharmaceutical company developing novel oncology therapeutics together with drug-specific DRP companion diagnostics for personalized cancer care.

ALLR Price Action: Allarity shares were up 47.6% at 16 cents at time of publication, according to Benzinga Pro.

Photo: fernando zhiminaicela from Pixabay.