Allarity Therapeutics (NASDAQ:ALLR) Issues Quarterly Earnings Results

Allarity Therapeutics (NASDAQ:ALLR) posted its quarterly earnings results on Tuesday. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($8.10) by $7.85, Zacks reports.

Allarity Therapeutics Stock Down 1.5%

Allarity Therapeutics stock traded down $0.02 during trading hours on Tuesday, hitting $1.01. The company had a trading volume of 175,564 shares, compared to its average volume of 1,081,376. Allarity Therapeutics has a fifty-two week low of $0.61 and a fifty-two week high of $25.33. The firm’s fifty day moving average is $0.96 and its 200-day moving average is $1.07.

Allarity Therapeutics announced that its board has initiated a share buyback plan on Monday, March 3rd that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the company to buy up to 128.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.