What's Happening With Allarity Therapeutics Stock Today?

Allarity Therapeutics Inc ALLR has submitted a marketing application to the FDA seeking approval for dovitinib for the third-line treatment of renal cell carcinoma (RCC) patients.  

• The Company's NDA filing is supported by its prior pre-market approval (PMA) submission with the FDA for using Dovitinib-DRP, the Company's validated companion diagnostic for the drug, to select and treat RCC patients most likely to respond to dovitinib.
• The submission marks Allarity's first regulatory application for marketing approval.
• Related content: Benzinga's Full FDA Calendar.
• Dovitinib is a small molecule, pan-tyrosine kinase inhibitor in-licensed from Novartis AG NVS and is Allarity's most advanced clinical therapeutic candidate. 
• Yesterday, Allarity closed its Recapitalization Share Exchange resulting in its initial public listing of 8.07 million shares and listing on the NASDAQ under the trading symbol "ALLR." 
• Simultaneously, the Company closed on a $20 million PIPE investment. 
• The Company issued 20,000 shares of preferred stock at $1,000 per share and a common stock purchase warrant to purchase 2.02 million shares to 3i, LP, a Delaware limited partnership.
• Price Action: ALLR shares are up 27.4% at $13.38 during the market session on the last check Wednesday.