On May 27, 2022 Allarity Therapeutics, Inc. ("Allarity" or the "Company"), a clinical-stage pharmaceutical company developing novel oncology therapeutics together with drug-specific DRP companion diagnostics for personalized cancer care, reported financial results for the first quarter ended March 31, 2022 (Press release, Allarity Therapeutics, MAY 27, 2022, View Source [SID1234615219]).

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F irst Quarter Financial Results

Balance Sheet: As of March 31, 2022, Allarity’s cash was $14.5 million, as compared to $19.6 million as of December 31, 2021.

R&D Expenses: Research and Development (R&D) expenses were $1.3 million for the three months ended March 31, 2022, compared to $1.3 million for the quarter ended March 31, 2021.

Impairment of Intangible Assets : Impairment of Intangible Assets was $14.0 million for the three months ended March 31, 2022, compared to nil for the quarter ended March 31, 2021.

G&A Expenses: General and Administrative (G&A) expenses were $3.0 million for the three months ended March 31, 2022, as compared to $1.2 million for the three months ended March 31, 2021.

Net Loss: Net loss was $3.1 million for the three months ended March 31, 2022, compared to $3.1 million for the comparable period in 2021.