Allarity Therapeutics Q2 loss narrows as expenses fall
ALLR•Q2 loss narrows as expenses fall
Allarity Therapeutics said its second-quarter net loss narrowed year over year as operating expenses declined.
The company ended the quarter with $26.9 million in cash and restricted cash, up from the prior year.
Outlook
The company did not provide specific financial guidance or forecasts for the current or future periods.
Result drivers
- Manufacturing campaign completion - The company completed a manufacturing campaign for stenoparib, securing drug supply and supporting late-stage clinical development.
- CLIA lab certification - The company obtained CLIA certification for its in-house laboratory, enabling full control of DRP testing to support U.S. clinical trials.
Key details
| Metric | Actual |
|---|---|
| Q2 net loss | $3.41 million |
| Q2 operating expenses | $2.67 million |
| Q2 operating income | -$2.67 million |
The one available analyst rating on the shares is buy. The average consensus recommendation for the biotechnology and medical research peer group is buy.
Wall Street's median 12-month price target for Allarity Therapeutics Inc is $10.25, about 653.7% above its August 13 closing price of $1.36.
