Why Allarity Therapeutics (ALLR) Stock Is Getting Hammered

Allarity Therapeutics Inc (NASDAQ:ALLR) shares are trading lower by 28.40% to $0.32 during Monday’s session after the company announced it received a noncompliance letter from the Nasdaq.

On June 18, Allarity received a notice from Nasdaq indicating the company failed to meet the requirement of maintaining a minimum bid price of $1 per share for 30 consecutive business days. Allarity plans to request a hearing to appeal for continued listing.

This request will temporarily prevent the suspension and delisting of its stock until the hearing concludes. However, there is no guarantee that the appeal will be successful and that the company’s stock will continue to be listed on the Nasdaq Capital Market.

According to data from Benzinga Pro, ALLR has a 52-week high of $269.80 and a 52-week low of $0.32.

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