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Allarity Therapeutics Rallies On 2nd Day After Submitting Dovitinib NDA -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Allarity Therapeutics Inc (NASDAQ:) closed its second day listed on the Nasdaq up 23% after submitting a New Drug Application (NDA) to the FDA for marketing approval of dovitinib — a third-line treatment of renal cell carcinoma, a type of cancer.

Cambridge-based Dovitinib, Massachusetts-based Company stated that the NDA has been supported by its premarket approval submission regarding Dovitinib–DRP.

“This NDA submission for dovitinib, in connection with the Dovitinib-DRP® companion diagnostic, is a historic milestone for our Company and an important step for late-stage renal cell carcinoma patients awaiting new treatment options,” Allarity’s CEO Steve Carchedi said.

Allarity stated that clinical activity has already been demonstrated in various similar areas including RCC and gastrointestinal stromal tumours. Endometrial carcinoma and metastatic breast Cancer are also possible. Allarity expects to evaluate the potential benefits of dovitinib.

Carchedi added, “Over a decade we have worked tirelessly in order to advance our novel oncology therapies pipeline and our unique DRP diagnostic tech to realize the promise personalized cancer care,”

After listing its shares through a recapitalization exchange and PIPE financing, Allarity saw a 6% increase in trading volume on the Nasdaq’s first day. The stock had been traded previously in Stockholm.

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