Robbins LLP is Investigating Allegations that Allarity Therapeutics, Inc. (ALLR) Misled Investors Regarding Dovitinib NDA’s Regulatory Prospects

Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities who purchased or otherwise acquired Allarity Therapeutics, Inc. (NASDAQ: ALLR) securities between May 17, 2022 and July 19, 2024. Allarity is a clinical-stage biopharmaceutical company that develops oncology therapeutics using drug-specific companion diagnostics generated by its Drug Response Predictor technology.

The Allegations

According to the complaint, during the class period, defendants failed to disclose that: (i) defendants had overstated the Dovitinib NDA’s continued regulatory prospects; (ii) Allarity and three of its former officers had engaged in illegal, illicit, and/or otherwise improper conduct in connection with the Dovitinib NDA and/or the Dovitinib-DRP PMA; (iii) the foregoing misconduct subjected the Company to an increased risk of regulatory and/or governmental scrutiny and enforcement action, as well as significant legal, monetary, and reputational harm; (iv) following Allarity’s announcement that it was, in fact, being investigated for wrongdoing in connection with the Dovitinib NDA and/or the Dovitinib-DRP PMA, the Company downplayed the substantial likelihood that an enforcement action would result from such investigation; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.

What Now: You may be eligible to participate in the class action against Allarity Therapeutics, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by November 12, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.  You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.