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(RTTNews) - Allarity Therapeutics, Inc. (ALLR), a clinical-stage biopharma focused on personalized cancer treatments, announced it has closed a $20 million non-convertible debt financing with Streeterville Capital to accelerate the development of its lead candidate, Stenoparib, a dual PARP and WNT pathway inhibitor, toward FDA approval and commercialization.

The financing, structured as two promissory notes, is expected to extend Allarity's cash runway into mid-2028. Proceeds will support completion of the ongoing Phase 2 ovarian cancer trial, preparation for pivotal development, and advancement of the company's Drug response Predictor (DRP) companion diagnostic platform. CEO Thomas Jensen stated the capital positions Allarity to complete Phase 2 enrolment, prepare for an FDA meeting, and advance its companion diagnostic strategy.

Stenoparib/2X-121 has shown durable clinical benefit in heavily pre-treated ovarian cancer patients, with some remaining on therapy for more than 30 months. The drug's dual mechanism- blocking PARP and WNT signaling - offers potential across multiple cancer types, including ovarian, small cell lung, and colorectal cancers. Allarity holds exclusive global rights for development and commercialization.

ALLR has traded between $0.61 and $2.35 over the past year. The shares surged following the announcement, closing Friday's (March 6,2026) trading session up 21%. During overnight trading session, the stock is up 3.23% to $1.28.

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