Allarity Therapeutics Inc (NASDAQ:ALLR) and Oncoheroes Biosciences Inc have entered into licensing agreements for Allarity's dovitinib and stenoparib for further clinical development in pediatric cancers.

• Oncoheroes will take responsibility for pediatric cancer clinical development activities for clinical-stage therapeutics. 
• Allarity will support Oncoheroes' pediatric clinical trials by providing clinical-grade drug inventory and facilitating DRP companion diagnostic screening of pediatric patients for each drug. 
• Under the licenses, Oncoheroes will receive commercialization rights for pediatric cancers, subject to Allarity's first buy-back option for each program. 
• Allarity will receive an undisclosed upfront license fee and regulatory milestones for each program. 
• Further financial terms of the licenses were not disclosed.
• If Allarity does not re-acquire the pediatric field rights, it will receive certain clinical/regulatory milestone payments and royalties on sales.
• In December, Allarity submitted an FDA marketing application seeking approval for dovitinib for third-line renal cell carcinoma. 
• Price Action: ALLR shares are up 9.21% at $11.33 during the market session on the last check Monday.