Allarity (ALLR) Therapeutics closed a $20 million non-convertible debt financing with Streeterville Capital. The transaction is structured as a note purchase agreement pursuant to which the Company issued two non-convertible promissory notes: a promissory note in the original principal amount of $10,930,000 and a secured promissory note in the original principal amount of $10,000,000, together providing approximately $20 million in net proceeds to the Company. The financing is expected to extend the Company’s cash runway into the summer of 2028. The Company intends to use the proceeds primarily to support key initiatives designed to accelerate the advance of stenoparib toward pivotal development, FDA approval and commercialization.
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