Allarity Therapeutics (NASDAQ:ALLR) stock is taking off on Tuesday after the clinical-stage biopharmaceutical company released data from a Phase 2 clinical trial of stenoparib.
That clinical trial saw the company testing the effectiveness of stenoparib in women with advanced ovarian cancer. The good news is that of the five women in the study, one achieved a complete response and the other four showed stable disease.
While this is still early data from the clinical trial, the results are looking promising for stenoparib as an advanced ovarian cancer treatment. That has the company hoping for even more good news once the study comes to a close.
What’s Next for ALLR Stock?
Allarity Therapeutics will be awaiting further data from this Phase 2 clinical trial. That includes interim data that will be released in the first quarter of 2024. The company is hopeful that it will meet its primary endpoint of objective response rate when the final results come in.
With today’s news comes heavy trading of ALLR stock as investors buy the shares. As of this writing, more than 37 million shares of ALLR stock have been traded. To put that in perspective, the company’s daily average trading volume is closer to 192,000 shares.
ALLR stock is up 42.3% as of Tuesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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