Allarity Therapeutics Enters Clinical Collaboration Agreement for Deflexifol

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Allarity Therapeutics’ shares experienced a notable 13% increase, reaching $2.98, following the company’s announcement of a clinical collaboration agreement with FivepHusion, previously known as Detsamma Investments.

After hitting its 52-week low of $2.50 last Friday, the stock has seen a substantial decline of 99% over the past year.

Advancing Deflexifol for Solid Tumor Treatment

As part of the agreement, Allarity will lend support to FivepHusion’s clinical development efforts for Deflexifol, a promising anti-cancer drug reformulation. The objective is to overcome the limitations in safety and efficacy often associated with standard-of-care 5FU chemotherapy. Allarity will utilize its drug-specific DRP companion diagnostics to identify potential candidates for enrollment and treatment in clinical trials of Deflexifol, both as a standalone therapy and in combination with other medications.

Progressing Towards Clinical Trials

FivepHusion plans to commence a phase 1b/2a study in the latter half of 2023. This study will evaluate Deflexifol in combination with oxaliplatin and bevacizumab as a primary treatment for patients with unresectable metastatic colorectal cancer. The trial, involving 50 patients, will focus on assessing the drug’s safety, tolerability, and pharmacokinetics. Additionally, researchers will examine objective response rates and overall survival among patients treated.

Future Milestones and Financial Considerations

Specific financial details regarding the clinical collaboration, option, and potential license are currently undisclosed. However, if FivepHusion exercises its option and obtains a license for the Allarity DRP companion diagnostic technology related to Deflexifol, certain milestone payments will be made to Allarity. These payments will be triggered by regulatory approvals of Deflexifol and the achievement of predetermined drug sales benchmarks.

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