Allarity: Novartis terminates dovitinib license; director Cullem resigns citing misconduct

Allarity Therapeutics, Inc.

Novartis terminated dovitinib license on Jan 26, 2024 citing material breach for lack of payment.
Director James G. Cullem resigned Jan 27, 2024, alleging acts and omissions by Chairman and Board injurious to company.
Cullem was terminated as CEO for cause on Dec 8, 2023; he claims termination should be without cause.
Allarity disagrees with Cullem's claims and takes exception to his characterizations.

item 1.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

James G. Cullem

Director

ALLR · Allarity Therapeutics, Inc.

Effective: 2024-01-27
Filed: February 1, 2024, 6:59 PM ET

On January 27, 2024, the Chairman of our Board of Directors (the “Board”), received email correspondence from Mr. James G. Cullem tendering his resignation (the “Resignation Email”) as a member of our Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

James G. Cullem resigned as Director at Allarity Therapeutics, Inc..

Action: resigned
Role: Director

Exact text from the filing

On January 27, 2024, the Chairman of our Board of Directors (the “Board”), received email correspondence from Mr. James G. Cullem tendering his resignation (the “Resignation Email”) as a member of our Board.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Allarity Therapeutics, Inc. terminated Agreement with Novartis Pharma AG (effective 2024-01-26).

Action: termination
Agreement: license
Counterparty: Novartis Pharma AG
Effective: 2024-01-26

Exact text from the filing

On January 26, 2024, we received written notice from Novartis indicating their decision to terminate the Agreement based on material breach for lack of financial payment.

View on SEC.gov

273 material agreements filed in the last 30 days. Browse all material agreements →

Allarity Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-009034

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.