Allarity Therapeutics (NASDAQ:ALLR) Board Approves Stock Repurchase Plan

Allarity Therapeutics (NASDAQ:ALLR) announced that its board has authorized a stock buyback program on Monday, March 3rd, RTT News reports. The company plans to repurchase $5.00 million in shares. This repurchase authorization authorizes the company to purchase up to 128.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Allarity Therapeutics Stock Performance

ALLR opened at $1.08 on Thursday. Allarity Therapeutics has a twelve month low of $0.68 and a twelve month high of $257.40. The business has a 50 day moving average price of $1.05 and a 200 day moving average price of $1.79.

About Allarity Therapeutics

Allarity Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing oncology therapeutics using drug-specific companion diagnostics generated by its drug response predictor technology. Its drug candidates include Stenoparib, a poly-ADP-ribose polymerase inhibitor that is in Phase 2 clinical trials for ovarian cancer; Dovitinib, a pan- tyrosine kinase inhibitor for the treatment of renal cell carcinoma; IXEMPRA (ixabepilone), a selective microtubule inhibitor in phase 2 for the treatment of metastatic breast cancer; LiPlaCis, a liposomal formulation of cisplatin, which is in Phase 2 clinical trials for metastatic breast cancer; and 2X-111, a liposomal formulation of doxorubicin that is in Phase 2 clinical trials for metastatic breast cancer and glioblastoma multiforme.