Allarity therapeutics - A tiny biotech company with very little buzz 🐝

My dear smooth brained simian fellows of the interwebs, have you missed Magnus? No? Meh... *Waives hand in the air* Let us jump straight into it! Who is ALLR? As a quick overview ALLR is the ticker for Allarity Therapeutics Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, U.S.A. If you don’t know what a Biotech company is and what differentiates this type of industry from say the pharmaceutical industry, here is a lovely 3 page PDF document explaining it in simple terms. Allarity focuses on developing therapies for cancer (renal, ovarian, breast and brain) and currently have a swathe of treatments in their pipeline. [source: Allarity’s website] Why Allarity? Well they turned up on the old screener I do say. They have also gone public oh so recently and suffered the typical descent into the depths of infinity that seemingly all biotech companies do… It does however have a market capitalization of a measly $16.69M according to Finviz and has only a tiny amount of shares available, 8.65M outstanding with a float of 5.86M. There is also some interesting volume movement, with Friday's trading seeing around 3.3x (~240K) its average volume traded (71.5K). [Source: Finviz] So it caught my eye. Tracing the origins While “researching” Allarity therapeutics Inc and its origins I seemed to end up going unnecessarily deeper into the rabbit hole as a plethora of companies popped up in my search. It seems nowadays that delving into the past on the interwebs inevitably becomes a messy endeavour. The vast majority of information that popped up is probably irrelevant to the article at hand, however, the “research” is done and I will share it with you so I feel that the endless hours I spent delving was not time wholly wasted. - Allarity therapeutics Inc currently listed in the US on the Nasdaq used to be called Oncology Venture A/S. Oncology Venture A/S was listed, at the time of re-naming (2021), on the Nasdaq Stockholm AB [source: NASDAQ] - Oncology Venture A/S was a spinoff from the company Medical Prognosis Institute A/S. At the time of the spinoff (2015) Oncology Venture A/S had its IPO on the AktieTorget (current day Spotlight Stock Market) [source: Allarity’s website] [source: Reuters] Just to make a messy mess messier, Oncology Venture ApS was founded in 2012 by Peter Buhl Jensen. Medical Prognosis Institute A/S was founded in 2004 by Steen Knudsen. Also Peter's wife Ulla Hald Buhl worked at the Medical Prognosis Institute as Chief Clinical - & Communications Officer. Furthermore Medical Prognosis Institute was part owned by Buhl Oncology ApS which in turn was owned by Peter Buhl Jensen, and his wife. [source: Medical Prognosis Institute] Tis’ of no consequence however as these things happen rather often and both companies merged in 2018… [source: Globe Newswire] [source: Allarity’s website] “But Magnus, what is the point in all this?” I hear you cry… There isn't one dear fellow, let us move on shall we? Their Pipeline [Source: Allarity’s website] DRP First, what is a DRP companion diagnostic with which each program will be advanced? Well, in the words of Steve Carchedi (CEO of Allarity): “It is a predictive tool that helps them select the patients most likely to respond for a given treatment. We apply that platform to our existing assets in order to bring them to market to improve the efficacy outcome and better response for patients. [And] to avoid patients from getting drugs that would not benefit [from it] and obviously direct it to patients that do. But in addition to that, our DRP platform, this diagnostic tool if you will, accelerates clinical development of each of our priority programs as well as others.” [source: Youtube] Dovitinib [source: PubliChem] Dovitinib is an interesting part of their pipeline. It is a tyrosine kinase inhibitor drug originally developed by Novartis. “In 2009, Novartis discontinued development of dovitinib lactate for the treatment of acute myeloid leukaemia (AML) based on the observation of time dependent drug accumulation. A phase I trial was also stopped for the same reason.” [source:New Drug Approvals] Allarity has licensed it from Novartis and seeks to develop it as a treatment for Renal Cell Carcinoma. Or as FierceBiotech sharply puts it: “Novartis offloads failed cancer drug to Oncology Venture” [source: FierceBiotech] Allarity also state on their website that: “Allarity exclusively in-licensed it (globally) from Novartis” [source: Allarity’s website] There is another post on FierceBiotech that states that Novartis also licensed it to LifeMax Labs. [source: FierceBiotech] I may have got the wrong end of the stick here and they may have licensed it for different “uses” or maybe they licensed their clinical data to Allarity. Either way you can read up on how it works and what it does in the source links provided above. Allarity partnered with Lonza biopharma for the manufacturing of Dovitinib. [source: Yahoo Finance] In February Allarity received a refusal to file letters from the FDA due to the fact that submitted clinical trial data did not enable a conclusion of efficacy based on non-inferiority data set. Allarity said that they were trying to organise a meeting with the FDA to try and iron out any issues with their letters. [source: Globe Newswire] The share price took an expected hammering as I believe most hopes were riding on Dovitinib. [source: MarketWatch] Allarity has filed a formal request for a type C meeting with the FDA so “discuss potential clinical paths to support approval of Dovitinib, together with its DRP companion diagnostic platform. [source: Globe Newswire] Its clinical trials can be found here. And so we shall wait for some update on the Dovitinib+DRP. Stenoparib [source: PubliChem] Stenoparib is another of Allarity’s priority programs/primary pipeline drugs. A PARP and tankyrase inhibitor, It is currently in phase 2 clinical trials for the treatment of advanced ovarian cancer at the Dana-Farber Cancer Institute. The treatment was also touted last year for possible efficacy against SARS-CoV-2 variants. [source: Globe Newswire] [source: Paper published on bioRxiv] [source: PubliMed] [source: Journal of Virology] I do feel that as we are now in 2022, coronavirus related drugs are now “old hat” in the investing/speculation community. Allarity partnered with Oncoheroes Biosciences for the advancement of Dovitinib and Stenoparib in paediatric cancers. [source: Globe Newswire] “Given its novel mechanism of action and ability to cross the blood brain barrier (BBB), plus its associated DRP®, stenoparib is poised to yield improved efficacy, lower toxicity, and lower drug resistance compared to the other late-stage or marketed PARP inhibitors.” [source: Allarity’s website] Its clinical trials can be found here and here. IXEMPRA [source: PubliChem] IXEMPRA (Ixabepilone) is a micro tubulin inhibitor which is used as a treatment for metastatic breast cancer. IXEMPRA has been approved by the FDA in the US and is currently in phase 2 development for the European market. [source: Allarity’s website] [source: FDA] The first patient was enrolled in March last year and has numerous trial sites planned in Belgium, England, Denmark, Finland, Poland and Germany. [source: Allarity’s website] Its data sheet can be found here. LiPlaCis & 2X-111  Two candidates in their “secondary pipeline” both have been out-licensed to Smerud Medical Research International AS.   LiPlaCis  is in phase 2 trials for its potential as a treatment for metastatic breast cancer. 2x-111 is currently in phase ½ for its potential as treatment in primary brain cancer. As they are out-licensed and relegated to the company's secondary efforts, I will leave it up to you if you wish to delve into these compounds. The chart Let us take a look at the char for all that it’s worth. As we can see, since it began to trade on the Nasdaq (US) the price has collapsed from $18.20 down to $1.93, a roughly -89.4% downturn. We can also see that the MACD has recently had an up turn and the RSI is well into the oversold region. Make of this what you will… [source: TradingView] The social scope My very rudimentary twitter analyzer found only 20 posts made recently containing the word “$ALLR”. Of these 20, 7 were deemed positive, 7 were deemed negative and 6 of them were neutral. So twitter seems to be 50/50 on Allarity. [source: me…] A search around Reddit provided scarce resources to go off, not turning up any results in “Ape” subreddits or any other subreddit for that matter. I did however find r/Allaritytherapeutics which was as barren as you might imagine, created by the user u/Apprehensive_Pay256 touting a grand total of 4 members… [source: r/Allaritytherapeutics] Stocktwits showed the most movement with 277 watchers and a 10% increase in recent messaging. Scrolling down the feed we can  see that there were many a bag holder from the $6+ region [source: Stocktwits] Magnus’ opinion As with most micro biotech companies, I expect the price to continue to fall to the $1 region and then “flatten out” for a while to keep its head just above the minimum listing requirement. It will then probably remain there until it is seemingly forgotten. Then, in a move to regain compliance (if it falls below $1) we can expect some financial reorganisation on the stocks behalf and possibly a R/S on the cards if things get dire.  [source: TradingView] If it remains over the minimum listing price, I expect some group of pumpers to catch on to Allarity and we could see a few weeks of growing buzz on social media platforms, followed by some handy articles and a sudden parabolic move upwards on news as FOMO kicks in to the herd. If this is the case expect the usual: “Just accumulate, buy every dip and relax” “All you need is diamond hands” “Setting a sell order for $10” “Block all bears and naysayers” If you do get in and are lucky enough to surf the wave, do be wise enough to take profit, ei? It is rather nifty as a pump candidate with a micro market cap ($16M) and a float that can be snapped up easily (5M). Its low price point can be seen as attractive for scooping up large quantities and there could be some news on the table once/if they sort out their woes with the FDA. It is to be noted that I didn't bother delving into the SEC filings as is usual, I feel I have spent enough time traipsing around the interwebs for this write up. If we do see some interesting uptick in price movement I may be convinced to go… Deeper. Having said all that… This is the opinion of a monkey on the interwebs, do keep your money safe and do some through DD, ei? This isn’t financial advice of course… - Magnus Chimpski Additional material: 2019 Youtube: Henrik Moltke (CFO of Oncology Venture) talks about DRP Youtube: Steve Carchedi gives an overview of the aim of Oncology Venture 2020 Youtube: Steve Carchedi speaks a little more about Oncology Venture 2021 Youtube: Steve Carchedi talks about Allarity Therapeutics Disclaimer: This is not financial advice. It is an opinion. Magnus is not a financial advisor. Magnus is infact a fictitious smooth brained simian of the interwebs, to take advice from an internet monkey would be insane. - End of transmission

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Allarity therapeutics - A tiny biotech company with very little buzz 🐝

bullish

My dear smooth brained simian fellows of the interwebs, have you missed Magnus? No? Meh...

*Waives hand in the air*

Let us jump straight into it!

Who is ALLR?

As a quick overview ALLR is the ticker for Allarity Therapeutics Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, U.S.A.

If you don't know what a Biotech company is and what differentiates this type of industry from say the pharmaceutical industry, here is a lovely 3 page PDF document explaining it in simple terms.

Allarity focuses on developing therapies for cancer (renal, ovarian, breast and brain) and currently have a swathe of treatments in their pipeline.

[source: Allarity's website]

Why Allarity?

Well they turned up on the old screener I do say. They have also gone public oh so recently and suffered the typical descent into the depths of infinity that seemingly all biotech companies do…

It does however have a market capitalization of a measly $16.69M according to Finviz and has only a tiny amount of shares available, 8.65M outstanding with a float of 5.86M.

There is also some interesting volume movement, with Friday's trading seeing around 3.3x (~240K) its average volume traded (71.5K).

[Source: Finviz]

So it caught my eye.

Tracing the origins

While “researching” Allarity therapeutics Inc and its origins I seemed to end up going unnecessarily deeper into the rabbit hole as a plethora of companies popped up in my search. It seems nowadays that delving into the past on the interwebs inevitably becomes a messy endeavour. The vast majority of information that popped up is probably irrelevant to the article at hand, however, the “research” is done and I will share it with you so I feel that the endless hours I spent delving was not time wholly wasted.

- Allarity therapeutics Inc currently listed in the US on the Nasdaq used to be called Oncology Venture A/S.

Oncology Venture A/S was listed, at the time of re-naming (2021), on the Nasdaq Stockholm AB

[source: NASDAQ]

- Oncology Venture A/S was a spinoff from the company Medical Prognosis Institute A/S.

At the time of the spinoff (2015) Oncology Venture A/S had its IPO on the AktieTorget (current day Spotlight Stock Market)

[source: Allarity's website]

[source: Reuters]

Just to make a messy mess messier, Oncology Venture ApS was founded in 2012 by Peter Buhl Jensen. Medical Prognosis Institute A/S was founded in 2004 by Steen Knudsen.

Also Peter's wife Ulla Hald Buhl worked at the Medical Prognosis Institute as Chief Clinical - & Communications Officer.

Furthermore Medical Prognosis Institute was part owned by Buhl Oncology ApS which in turn was owned by Peter Buhl Jensen, and his wife.

[source: Medical Prognosis Institute]

Tis' of no consequence however as these things happen rather often and both companies merged in 2018

[source: Globe Newswire]

[source: Allarity's website]

“But Magnus, what is the point in all this?” I hear you cry…

There isn't one dear fellow, let us move on shall we?

Their Pipeline

[Source: Allarity's website]

DRP

First, what is a DRP companion diagnostic with which each program will be advanced?

Well, in the words of Steve Carchedi (CEO of Allarity):

“It is a predictive tool that helps them select the patients most likely to respond for a given treatment. We apply that platform to our existing assets in order to bring them to market to improve the efficacy outcome and better response for patients. [And] to avoid patients from getting drugs that would not benefit [from it] and obviously direct it to patients that do.

But in addition to that, our DRP platform, this diagnostic tool if you will, accelerates clinical development of each of our priority programs as well as others.”

[source: Youtube]

Dovitinib

[source: PubliChem]

Dovitinib is an interesting part of their pipeline. It is a tyrosine kinase inhibitor drug originally developed by Novartis.

“In 2009, Novartis discontinued development of dovitinib lactate for the treatment of acute myeloid leukaemia (AML) based on the observation of time dependent drug accumulation. A phase I trial was also stopped for the same reason.”

[source:New Drug Approvals]

Allarity has licensed it from Novartis and seeks to develop it as a treatment for Renal Cell Carcinoma. Or as FierceBiotech sharply puts it:

“Novartis offloads failed cancer drug to Oncology Venture” [source: FierceBiotech]

Allarity also state on their website that:

“Allarity exclusively in-licensed it (globally) from Novartis” [source: Allarity's website]

There is another post on FierceBiotech that states that Novartis also licensed it to LifeMax Labs. [source: FierceBiotech]

I may have got the wrong end of the stick here and they may have licensed it for different “uses” or maybe they licensed their clinical data to Allarity.

Either way you can read up on how it works and what it does in the source links provided above.

Allarity partnered with Lonza biopharma for the manufacturing of Dovitinib.

[source: Yahoo Finance]

In February Allarity received a refusal to file letters from the FDA due to the fact that submitted clinical trial data did not enable a conclusion of efficacy based on non-inferiority data set. Allarity said that they were trying to organise a meeting with the FDA to try and iron out any issues with their letters.

[source: Globe Newswire]

The share price took an expected hammering as I believe most hopes were riding on Dovitinib.

[source: MarketWatch]

Allarity has filed a formal request for a type C meeting with the FDA so “discuss potential clinical paths to support approval of Dovitinib, together with its DRP companion diagnostic platform.

[source: Globe Newswire]

Its clinical trials can be found here.

And so we shall wait for some update on the Dovitinib+DRP.

Stenoparib

[source: PubliChem]

Stenoparib is another of Allarity's priority programs/primary pipeline drugs. A PARP and tankyrase inhibitor, It is currently in phase 2 clinical trials for the treatment of advanced ovarian cancer at the Dana-Farber Cancer Institute.

The treatment was also touted last year for possible efficacy against SARS-CoV-2 variants.

[source: Globe Newswire]

[source: Paper published on bioRxiv]

[source: PubliMed]

[source: Journal of Virology]

I do feel that as we are now in 2022, coronavirus related drugs are now “old hat” in the investing/speculation community.

Allarity partnered with Oncoheroes Biosciences for the advancement of Dovitinib and Stenoparib in paediatric cancers.

[source: Globe Newswire]

“Given its novel mechanism of action and ability to cross the blood brain barrier (BBB), plus its associated DRP®, stenoparib is poised to yield improved efficacy, lower toxicity, and lower drug resistance compared to the other late-stage or marketed PARP inhibitors.”

[source: Allarity's website]

Its clinical trials can be found here and here.

IXEMPRA

[source: PubliChem]

IXEMPRA (Ixabepilone) is a micro tubulin inhibitor which is used as a treatment for metastatic breast cancer. IXEMPRA has been approved by the FDA in the US and is currently in phase 2 development for the European market.

[source: Allarity's website]

[source: FDA]

The first patient was enrolled in March last year and has numerous trial sites planned in Belgium, England, Denmark, Finland, Poland and Germany.

[source: Allarity's website]

Its data sheet can be found here.



LiPlaCis & 2X-111

Two candidates in their “secondary pipeline” both have been out-licensed to Smerud Medical Research International AS.

LiPlaCis is in phase 2 trials for its potential as a treatment for metastatic breast cancer. 2x-111 is currently in phase ½ for its potential as treatment in primary brain cancer.

As they are out-licensed and relegated to the company's secondary efforts, I will leave it up to you if you wish to delve into these compounds.

The chart

Let us take a look at the char for all that it's worth. As we can see, since it began to trade on the Nasdaq (US) the price has collapsed from $18.20 down to $1.93, a roughly -89.4% downturn.

We can also see that the MACD has recently had an up turn and the RSI is well into the oversold region. Make of this what you will…

[source: TradingView]

The social scope

My very rudimentary twitter analyzer found only 20 posts made recently containing the word “$ALLR”. Of these 20, 7 were deemed positive, 7 were deemed negative and 6 of them were neutral. So twitter seems to be 50/50 on Allarity.

[source: me…]

A search around Reddit provided scarce resources to go off, not turning up any results in “Ape” subreddits or any other subreddit for that matter. I did however find r/Allaritytherapeutics which was as barren as you might imagine, created by the user u/Apprehensive_Pay256 touting a grand total of 4 members…

[source: r/Allaritytherapeutics]

Stocktwits showed the most movement with 277 watchers and a 10% increase in recent messaging. Scrolling down the feed we can see that there were many a bag holder from the $6+ region

[source: Stocktwits]

Magnus' opinion

As with most micro biotech companies, I expect the price to continue to fall to the $1 region and then “flatten out” for a while to keep its head just above the minimum listing requirement. It will then probably remain there until it is seemingly forgotten.

Then, in a move to regain compliance (if it falls below $1) we can expect some financial reorganisation on the stocks behalf and possibly a R/S on the cards if things get dire.

[source: TradingView]

If it remains over the minimum listing price, I expect some group of pumpers to catch on to Allarity and we could see a few weeks of growing buzz on social media platforms, followed by some handy articles and a sudden parabolic move upwards on news as FOMO kicks in to the herd. If this is the case expect the usual:

“Just accumulate, buy every dip and relax”

“All you need is diamond hands”

“Setting a sell order for $10”

“Block all bears and naysayers”

If you do get in and are lucky enough to surf the wave, do be wise enough to take profit, ei?

It is rather nifty as a pump candidate with a micro market cap ($16M) and a float that can be snapped up easily (5M). Its low price point can be seen as attractive for scooping up large quantities and there could be some news on the table once/if they sort out their woes with the FDA.

It is to be noted that I didn't bother delving into the SEC filings as is usual, I feel I have spent enough time traipsing around the interwebs for this write up. If we do see some interesting uptick in price movement I may be convinced to go… Deeper.

Having said all that… This is the opinion of a monkey on the interwebs, do keep your money safe and do some through DD, ei? This isn't financial advice of course…

- Magnus Chimpski




Additional material:

2019

Youtube: Henrik Moltke (CFO of Oncology Venture) talks about DRP

Youtube: Steve Carchedi gives an overview of the aim of Oncology Venture

2020

Youtube: Steve Carchedi speaks a little more about Oncology Venture

2021

Youtube: Steve Carchedi talks about Allarity Therapeutics

Disclaimer: This is not financial advice. It is an opinion. Magnus is not a financial advisor.

Magnus is infact a fictitious smooth brained simian of the interwebs, to take advice from an internet monkey would be insane.

- End of transmission

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