Announcing Allarity Therapeutics – GuruFocus.com

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The council appoints James G. Cullem, J.D., at Temp worker Chief executive officer,
Joan Y. Brown, CPA, at Temp worker Financial director


Press release

Cambridge, MA, UNITED STATES. (June 29, 2022) — Allarity Therapeutics, Inc. (“Allarity” or the “Company”), a clinical-stage pharmaceutical company developing novel oncology treatments with drug-specific DRPs® companion diagnostics for personalized cancer care, today announced a leadership transition. Effective immediately, the Company’s Board of Directors has appointed James G. Cullem, JD, current Chief Commercial Officer, as Interim Chief Executive Officer and Joan Y. Brown, CPA, current Chief Financial Reporting Officer, as Acting Chief Financial Officer (CFO). Former CEO Steve R. Carchedi and CFO Jens Knudsen left those roles to pursue other opportunities. The board plans to appoint a permanent CEO and CFO in the first half of 2023.

The company’s co-founder, Dr. Steen Knudsen, Ph.D., and Dr. Marie Foegh, MD, will continue in their respective roles as scientific director and medical director of the company. Company co-founder Thomas Jensen will take on a new role as senior vice president of investor relations. Mr. Cullem and Mr. Jensen are expected to sit on the board.

“On behalf of the Board of Directors, we would like to express our appreciation and gratitude to both Steve and jens for their contributions to Allarity Therapeutic,” said Duncan Moore, Ph.D., chairman of the company’s board of directors.

Mr. Cullem has been part of the company’s leadership team since 2014. He most recently served as Chief Commercial Officer, prior to which he served as Senior Vice President of Corporate Development. He is an experienced biotechnology executive and brings over 20 years of diverse experience in life science organizational management, business development and licensing, intellectual property technology transfer/commercialization, alliance management and strategic planning as a member of various leadership teams. During his tenure at Allarity, Mr. Cullem was responsible for identifying and acquiring most of the company’s key oncology clinical assets. He holds a BS in biochemistry from the University of California, Davis and a JD from Franklin Pierce Law School at the University of New Hampshire. He is a patent attorney with the United States Patent & Trademark Office.

Ms Brown most recently served as the company’s chief financial reporting officer, a position she has held since 2021, where she helped move the company to the US Nasdaq. She brings over 20 years of financial and regulatory reporting and auditing experience, including full cycle accounting, payroll, management and board reporting. Prior to joining Allarity, Ms. Brown consulted with various public and private companies providing financial reporting and regulatory compliance services (including companies with assets and sales exceeding $500 million), and in as director of prudential supervision within financial institutions. Commission (FICOM) (Vancouver, British Columbia, Canada). Ms. Brown is a Chartered Accountant (CPA) and Chartered Accountant (Canada) and holds a Bachelor of Business Administration from Simon Frasier University.

About the Drug Response Predictor – DRP® Companion diagnosis

Allarity uses its drug-specific DRP® select patients who, based on the genetic signature of their cancer, have a high probability of responding to the specific drug. By screening patients before treatment and only treating patients with a sufficiently high DRP® score, the rate of therapeutic response can be significantly increased. DRP® The method relies on the comparison of susceptible and resistant human cancer cell lines, including transcriptomic information from the cell lines combined with clinical tumor biology filters and results from previous clinical trials. PRD® is based on messenger RNA from patient biopsies. DRP® demonstrated its ability to provide statistically significant prediction of clinical outcome of drug treatment in cancer patients in 37 of 47 clinical studies reviewed (both retrospective and prospective), including ongoing prospective Phase 2 trials of the stenoparib and IXEMPRA®. DRP® platform, which can be used in all types of cancer and is patented for more than 70 cancer drugs, has been widely published in peer-reviewed literature.

About Allarity Therapeutic

Allarity Therapeutics, Inc. (ALLR) develops medicines for personalized cancer treatment guided by its proprietary and highly validated companion diagnostic technology, the DRP® Platform. The Company has a mature portfolio of three drug candidates: stenoparib, a PARP inhibitor in phase 2 development for ovarian cancer; dovitinib, a post-Phase 3 pan-tyrosine kinase inhibitor; and IXEMPRA® (Ixabepilone), a microtubule inhibitor approved in the United States for the treatment of second-line metastatic breast cancer and in phase 2 development in Europe for the same indication. In addition, the Company has commercial interests in 2X-111, a liposomal formulation of doxorubicin ready for Phase 2 development in metastatic breast cancer and/or glioblastoma multiforme (GBM), which is being discussed for an overhaul of the license at Smerud International Medical Research AS; and LiPlaCis®, a liposomal formulation of cisplatin and its related DRP®, which are being developed through a partnership with Chosa ApS, a subsidiary of Smerud Medical Research International, for advanced metastatic breast cancer. The company is headquartered in the United States and has an R&D facility in Hoersholm, Denmark. For more information, please visit the Company’s website at www.Allarity.com.

Follow Allarity on Ssocial Mmedia

Facebook: https://www.facebook.com/AllarityTx/
LinkedIn: https://www.linkedin.com/company/allaritytx/
Twitter: https://twitter.com/allaritytx

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 Allarity’s current expectations or predictions of future events. The words “plans”, “believes”, “continues”, “could”, “estimates”, “expects”, “intends”, “may”, “could”, “plans”, ” possible”, “potential”, “predicted”, “plans”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of such words does not mean that a statement is not prospective. These forward-looking statements include, but are not limited to, statements relating to the company’s NDA submission for dovitinib and its PMA submission for the drug-specific DRP.® companion diagnosis for dovitinib, any statements relating to ongoing clinical trials for stenoparib for the treatment of advanced ovarian cancer, or ongoing clinical trials (in Europe) for IXEMPRA® for the treatment of metastatic breast cancer, and statements regarding the efficacy of the Company’s DRP® companion diagnostic platform to predict whether a particular patient is likely to respond to a specific drug. All forward-looking statements contained in this press release are based on management’s current expectations regarding future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied by such forward-looking statements. statements. These risks and uncertainties include, but are not limited to, the risk that the results of a clinical study will not necessarily predict the final results and that one or more of the clinical results could change materially as a result of examinations. more complete data and as patients become available, the risk that the results of a clinical study will be subject to interpretation and that additional analyzes will be necessary and/or may contradict these results, obtaining regulatory approval for dovitinib or any of our other therapeutic candidates or, if approved, the successful commercialization of such products, the risk of termination or delay of any of the ongoing or planned clinical trials and/or our development of our product candidates, the risk that results of previously conducted studies may not be repeated or observed in ongoing or future studies involving our product candidates. therapeutics, and the risk that the current COVID-19 pandemic will impact the Company’s current and future clinical trials and the Company’s schedule of preclinical studies and other operations. For a discussion of other risks and uncertainties, and other important factors, each of which could cause our actual results to differ materially from those contained in the forward-looking statements, see the section titled “Risk Factors” in our statement of registration of Form S-1. filed with the Securities and Exchange Commission, available on the Securities and Exchange Commission’s website at www.sec.gov, together with discussions of potential risks, uncertainties and other important factors in the filings of the Company with the Securities and Exchange Commission. 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:

Thomas Jensen
SVP of Investor Relations
[email protected]

Investor Relations:

Chuck Padala
LifeSci Advisors
+1 (646) 627-8390
[email protected]

US Media Contact:

Mike Beyer
Sam Brown, Inc.
+1 (312) 961-2502
[email protected]

EU media contact:

Thomas Pedersen
Carrotize PR & Communications
+45 6062 9390
[email protected]

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