On October 28, 2026, Allarity Therapeutics, Inc. (the "Company") entered into a Settlement and Release Agreement (the "Settlement Agreement") with Novartis Pharma AG ("Novartis") relating to an aggregate current liability of $4,900,000, plus interest, due to Novartis (the "Liability"). The Liability arose under a license agreement between Novartis and Allarity Therapeutics Europe ApS, an affiliate of the Company, which license agreement was previously terminated effective January 26, 2024.

 

Pursuant to the Settlement Agreement, Novartis agreed to accept a payment of $1,000,000 from the Company as full payment of the Liability. Upon receipt of such payment, Novartis and its related parties will release the Company and its related parties from claims in respect of the Liability, and the Company and its related parties will release Novartis and its related parties from claims, subject in each case to claims relating to or arising from the enforcement of the Settlement Agreement.

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