Allarity shares rise 10.08% after-hours following $50M securities offering.

Allarity Therapeutics Inc. (ALLR) surged 10.08% in after-hours trading following the announcement of a $50 million securities offering, including common stock, preferred stock, debt securities, and warrants. The funding aims to support the company’s development of stenoparib, a PARP/Tankyrase inhibitor for advanced ovarian cancer, and its DRP companion diagnostic platform, which identifies patients likely to benefit from the therapy. The offering, detailed in SEC filings, signals investor confidence in Allarity’s pipeline and its ability to advance personalized cancer treatments. The positive reaction aligns with the perceived value of securing capital for ongoing clinical trials, particularly in a competitive oncology sector where robust funding can accelerate drug development and commercialization prospects.