Allarity Therapeutics Announces All Series A Preferred Warrants and Variable Price Warrants Have Been Converted to Common Stock

– Conversions eliminate all variable price derivative securities

– Conversions eliminate any market surplus linked to warrants

– Conversions of Preferred Stock and Series A Warrants were initiated by investors

– A limited number of convertible warrants remain at $20 per share

– The company has fully refunded all bridge notes

Boston (May 7, 2024)—Allarity Therapeutics, Inc. (“Allarity” or the “Company”) (NASDAQ: ALLR), a clinical-stage pharmaceutical company dedicated to the development of personalized cancer treatments, today announced that its capital structure has been simplified. . This goal was achieved through the recent investor-initiated conversion of all outstanding Series A preferred stock into common stock, resulting in a single class of outstanding stock, and the conversion of 93% outstanding warrants of the Company, including all variable price warrants. Following this reduction, the Company declares that only a limited number of warrants remain unexercised, namely 256,667 warrants, each with a fixed exercise price of $20 per share. In addition, the Company informs that it has fully reimbursed all relay tickets, totaling $1,746,630, including capital and accrued interest.

Thomas Jensen, CEO of Allarity Therapeutics, said: “The successful conversion of these securities by our investors is a key milestone, as it streamlines our financial architecture and can strengthen the attractiveness of our shares. Understanding the investment case for biotechnology companies like ours can be complex for investors at all levels. Therefore, we are very pleased with this development, as it allows us to focus more on sharing information about our main asset, stenoparib, and less on explaining the intricacies of our financial structure going forward.

About Allarity Therapeutics
Allarity Therapeutics, Inc. (NASDAQ: ALLR) is a clinical-stage biopharmaceutical company dedicated to the development of personalized cancer treatments. The Company is focused on developing stenoparib, a novel PARP/Tankyrase inhibitor for patients with advanced ovarian cancer, using its DRP^® companion diagnostic for patient selection in ongoing phase 2 clinical trial, NCT03878849. Headquartered in the United States with a research center in Denmark, Allarity is committed to addressing significant unmet medical needs in cancer treatment. For more information, visit www.allarity.com.

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Forward-looking statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide the Company’s current expectations or forecasts regarding future events. The words “anticipates”, “believes”, “continues”, “could”, “estimates”, “expects”, “intends”, “may”, “could”, “plans”, “ possible”, “potential”. “predicts,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, the implications of changes to our capital structure on stock price performance. Any forward-looking statements contained in this press release are based on management’s current expectations regarding future events and are subject to multiple risks and uncertainties that could cause actual results to differ materially and adversely from those stated or implied. -understood in these forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that remaining unexercised warrants may affect the performance of our shares and the impact of market reactions to conversions. For a discussion of other risks and uncertainties, as well as other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors » in our registration statement Form S-1. filed on April 17, 2024, and our Annual Report Form 10-K filed with the Securities and Exchange Commission (the “SEC”), available on the SEC’s website at www.sec.gov, as well as discussions about potential risks. , uncertainties and other important factors in the Company’s subsequent filings with the SEC. All information contained in this press release is as of the date of publication, and the Company undertakes no obligation to update this information except as required by law.

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Company contact:
[email protected]

Media Contact:
Thomas Pedersen
Carrotize PR and communications
+45 6062 9390
[email protected]

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