Why Is Allarity Therapeutics (ALLR) Stock Up 41% Today?


  • Allarity Therapeutics (ALLR) stock is rising higher on Friday with heavy trading.
  • That follows an update to its stock prospectus.
  • Investors will also keep in mind that ALLR is a penny stock.
ALLR Stock - Why Is Allarity Therapeutics (ALLR) Stock Up 41% Today?

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Allarity Therapeutics (NASDAQ:ALLR) stock is heading higher on Friday alongside heavy pre-market trading.

Investors will note that this movement comes after the company announced a prospectus supplement. This alters the maximum aggregate offering price of shares sold through prospectus from $1,350,000 to $2,350,000.

Allarity Therapeutics notes that it currently has 828,580 shares outstanding with a value of $7,092,593. The amendment mentions that the company has sold $1,348,908 worth of its shares and is eligible to sell $1,015,290 more.

ALLR Stock Movement Today

Due to heavy pre-market trading, more than 2.8 million shares of the clinical-stage biopharmaceutical company’s stock changed hands. That’s well above its daily average trading volume of about 59,000 shares.

Investors will also note that ALLR stock is up 41.3% as of Friday morning. Even so, the shares closed out Thursday down 78.9% since the start of the year.

Another thing to note is that ALLR is a penny stock. This comes from its low daily average trading volume, a prior closing price of $2.30 per share and a market capitalization of only $1.0821.082. All of these make it a risky investment.

There are even more of the most recent stock market stories traders will want to read about today below!

We are offering all of the hottest stock market news that investors need to know about on Friday! Among that is what has shares of PaxMedica (NASDAQ:PXMD) stock rising, the biggest pre-market stock movers this morning and more. All of this info is ready to go at the following links!

More Stock Market News for Friday

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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