Allarity stock dips amid enrollment woes pushing cancer trials data to year end

Allarity Therapeutics (NASDAQ:ALLR) said it is working towards accelerating patient recruitment in ongoing phase 2 trials of Ixempra and stenoparib as monotherapies for cancer.

The company expects interim data readouts by the end of 2023.

However, the company said that due to slower patient enrollment in both studies, partly due to the COVID pandemic impacting trial site staffing, Allarity has expanded its collaboration with multiple contract research organizations (CROs) to increase the number of active trial sites.

Allarity has also made changes to the trial protocols to increase the availability of eligible people for both monotherapy studies.

The company is evaluating Ixempra as a monotherapy to treat metastatic breast cancer in Europe.

Allarity will lower the IXEMPRA-DRP companion diagnostic cut-off score for enrollment from 67% to 33% and due to this expects sufficient DRP-positive patient enrollment for an interim data readout in late 2023.

"Patient recruitment in oncology clinical trials is an ongoing challenge and has delayed target date readouts across our sector. I am optimistic that our ongoing efforts to address this challenge will make a positive impact on our goal of providing interim data readouts in our ongoing Phase 2 studies by year’s end," said Allarity CEO James Cullem.

The company is evaluating stenoparib as a monotherapy in ovarian cancer in an ongoing DRP-guided phase 2 trial.

Allarity has change patient dosing from once daily dose to a BID regimen (twice daily) to improve therapeutic benefit by providing a consistent level of the medicine in the patient in the treatment period.

Allarity expects it will have sufficient DRP-positive patient enrollment to support an interim data readout from the trial in late 2023.

ALLR -8.17% to $2.36 premarket March 28