Allarity Therapeutics Reports Positive Results for DRP-Companion Diagnostic Test
- Wednesday, October 16, 2024
By Chris Wack
Shares of Allarity Therapeutics (NASDAQ: $ALRT) rose 5% to $1.67 following the company's announcement of encouraging results for a new drug-specific DRP-companion diagnostic test designed specifically for dovitinib.
Last Wednesday, the stock hit a 52-week low of $1.54, marking a 99% decline over the past year.
The pharmaceutical company, currently in the clinical stage, disclosed that the data from their study demonstrated the effectiveness of the DRP-Dovitinib diagnostic test in identifying a specific subset of patients with advanced renal cell carcinoma who would benefit from treatment with dovitinib. This benefit was compared to unselected patients.
In the evaluation of pre-treatment biopsies from 135 patients with advanced renal cell carcinoma, those who tested positive for the DRP showed a median overall survival of 15 months. Conversely, those who tested negative for the DRP had a median overall survival of 9.13 months.
Allarity Therapeutics is actively advancing dovitinib in an ongoing Phase 1b clinical trial that explores the potential combination of dovitinib and stenoparib for the treatment of various advanced solid tumors, including ovarian cancer.
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