Ascendiant Capital raises PT to $9.25, maintains Buy on Allarity.

Ascendiant Capital raises PT to $9.25, maintains Buy on Allarity.

Ascendiant Capital has updated its price target for Allarity Therapeutics, Inc. (NASDAQ: ALLR) to $9.25, maintaining a Buy rating on the stock. The move comes following the company's presentation of new Phase 2 clinical data for stenoparib (2X-121) at the American Association for Cancer Research (AACR) 7th Biennial Special Conference on Ovarian Cancer, held in Denver, Colorado, from September 19–21, 2025.

The data, presented by Dr. Jeremy Graff, President and Chief Development Officer of Allarity Therapeutics, showed that the median overall survival (mOS) for platinum-resistant and refractory ovarian cancer patients receiving stenoparib twice daily has now exceeded 25 months. This is the first time Kaplan-Meier analyses have indicated such a significant improvement in mOS for this patient population. Notably, two patients have remained on therapy for more than 24 months, with one patient carrying a wild-type BRCA gene, which typically precludes benefit from PARP inhibitors. One patient with primary platinum-refractory disease has also remained alive more than two years after enrollment, a highly uncommon outcome.

The updated data underscore stenoparib's potential to provide meaningful extended survival benefits for patients with advanced, platinum-resistant ovarian cancer, a population with historically poor outcomes and limited treatment options. The drug's dual inhibition of PARP and the WNT pathway distinguishes it from first-generation PARP inhibitors, which have shown limited long-term survival benefits.

Ascendiant Capital's analysts noted that the FDA's recent emphasis on assessing overall survival as the primary endpoint for oncology drug approval supports the potential for stenoparib to gain regulatory approval. The company's ongoing Phase 2 trial, which enrolled heavily pre-treated patients, has shown a favorable safety profile with significantly less myelotoxicity than earlier-generation PARP inhibitors.

Ascendiant Capital maintains its optimistic outlook on Allarity Therapeutics, citing the company's innovative drug development strategy and the potential for stenoparib to address significant unmet medical needs in cancer treatment. The analyst firm expects further data from the ongoing trial to solidify the drug's clinical benefits and support its regulatory advancement.