Core Insights - Salarius Pharmaceuticals has clarified that its common stock continues to trade on the Nasdaq under the ticker "SLRX" despite inaccuracies reported by S&P CapIQ regarding its merger with Decoy Therapeutics and claims of delisting [1][2] Financial Overview - The company completed an underwritten public offering on November 13, 2025, raising gross proceeds of $8 million, resulting in pro forma cash of approximately $14 million [2] - The combined company has approximately 5.9 million shares of common stock outstanding [2] Business Focus - Salarius is focused on advancing Decoy's pipeline of peptide conjugate therapeutics through its IMPACT platform, which utilizes AI and machine learning for drug development [4] - The company aims to address serious unmet medical needs with its drug candidates [4] Development Plans - Over the next 12 months, Decoy plans to advance its lead asset, a pan-coronavirus antiviral, towards filing an Investigational New Drug (IND) application with the FDA [3] - Additional programs include a broad-acting antiviral for flu, COVID-19, and RSV, as well as a peptide drug conjugate targeting gastrointestinal cancers [3]

Financial Position - The company had an accumulated deficit of $85.5 million as of September 30, 2025, with operating losses incurred each year since inception [104]. - As of September 30, 2025, the company had cash and cash equivalents of $4.8 million and stockholders' equity of $4.2 million [104]. - The company has no products approved for commercial sale and has not generated any revenue from product sales to date [104]. - The company believes there is substantial doubt about its ability to continue its current and planned clinical programs for more than 12 months from the date of the filing [106]. - As of the report date, the company has approximately $13.3 million in cash and cash equivalents, sufficient to fund operations through Q1 2027 [166]. - The company may need to raise additional capital to fund product development and operations, which could adversely affect its financial condition if not achieved [167]. Capital Raising Activities - During the nine months ended September 30, 2025, the company sold 461,501 shares in an ATM offering for gross proceeds of $2.8 million and 387,006 shares under the ELOC agreement for gross proceeds of $4.5 million [104]. - The company entered into a public offering on November 11, 2025, issuing 2,514,335 shares of common stock and various warrants, with a combined public offering price of $1.50 per share [111]. - The net proceeds from the November 2025 Offering were approximately $6.3 million after deducting underwriting discounts and commissions [113]. - The company plans to use the net proceeds primarily to advance clinical development, pay off outstanding promissory notes, and for general corporate purposes [114]. - The company raised approximately $6.3 million in net proceeds from the November 2025 Offering, which included the sale of 2,514,335 shares of common stock and various warrants [165]. Expenses and Losses - Research and development expenses decreased to $61,826 in Q3 2025 from $137,234 in Q3 2024, a reduction of $75,408 [150]. - General and administrative expenses were $833,304 in Q3 2025, down from $869,237 in Q3 2024, a decrease of $35,933 [150]. - The net loss for Q3 2025 was $873,467, compared to a net loss of $972,121 in Q3 2024, a reduction of $98,654 [150]. - The company anticipates higher research and development expenses post-merger as it advances clinical development of acquired assets [151]. - The company expects higher general and administrative expenses after the merger as it incorporates Decoy's business [153]. Merger and Corporate Changes - The company completed a merger with Decoy Therapeutics on November 12, 2025, resulting in Decoy becoming a wholly owned subsidiary [109]. - The company issued 877.709 shares of Series A Non-Voting Convertible Preferred Stock and 796.306 shares of Series B Non-Voting Convertible Preferred Stock in connection with the merger [110]. - Management changes include the appointment of Mr. Frederick E. Pierce as CEO and Dr. Barbara Hibner as Chief Scientific Officer on November 12, 2025 [132][133]. - A transaction bonus of $225,000 was approved for the then-acting CEO, to be paid following the closing of the Merger [134]. Stock and Warrants - The Series A and Series B warrants have an exercise price of $1.50 per share and $0.0001 per share respectively, with Series A warrants expiring in five years and Series B in one year [115][116]. - The Company issued warrants to purchase up to 266,620 shares of common stock at an exercise price of $2.325, which are exercisable until November 11, 2030 [121]. - The Series A Preferred Stock has a conversion ratio set at 2,800-1 due to a post-closing anti-dilution provision triggered by a financing price below the Initial Issuance Price of $10.50 [124]. - Holders of Series B Preferred Stock are entitled to dividends equal to those paid on common stock, with a similar anti-dilution provision resulting in a conversion ratio of 2,800-1 [129]. - The Company is required to use 50% of net proceeds from certain sales to redeem outstanding shares of Series B Preferred Stock until fully redeemed [128]. Compliance and Reporting - Salarius regained compliance with Nasdaq's minimum bid price requirement on September 4, 2025, and with the equity standard on October 10, 2025 [146][148]. - The company has not made any material changes to its critical accounting policies since the last annual report [173]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures [174]. Cash Flow Activities - The company reported a net cash used in operating activities of $3.7 million for the nine months ended September 30, 2025, a decrease of approximately $0.1 million from the same period in 2024 [169]. - Net cash used in investing activities was $0.2 million, primarily related to a short-term promissory note, with no such activity in the prior period [170]. - Net cash provided by financing activities for the nine months ended September 30, 2025, was $6.3 million, mainly from the sale of common shares under the ATM and ELOC program [171]. - The company experienced a net increase in cash and cash equivalents of $2.4 million for the nine months ended September 30, 2025, compared to a decrease of $2.6 million in the same period in 2024 [168].

Core Insights - The strategic merger between Salarius Pharmaceuticals and Decoy Therapeutics aims to enhance the development of innovative peptide conjugate therapeutics through the IMPACT™ platform, which simplifies drug development and manufacturing processes [1][2] - The combined company has a pro forma cash position of $14 million following the merger and a recent public offering [1] Company Overview - The new entity will be named Decoy Therapeutics, with leadership including co-founders Frederick "Rick" Pierce as CEO and Barbara Hibner as Chief Scientific Officer, along with other key executives from Decoy [4] - The merger was formalized through a series of agreements, culminating in the completion of the merger on November 12, 2025, making Decoy a wholly owned subsidiary of Salarius [5] Financial and Strategic Position - Decoy has previously secured financing from institutional investors and non-dilutive capital sources, including the Massachusetts Life Sciences Seed Fund and the Google AI startup program [2] - The company anticipates multiple value-creating inflection points in the coming year, focusing on unmet medical needs in respiratory infectious diseases and gastrointestinal oncology [2] Product Development Pipeline - Over the next 12 months, Decoy plans to advance its lead asset, a pan-coronavirus antiviral, towards filing an Investigational New Drug (IND) application with the FDA, alongside other antiviral programs targeting flu, COVID-19, and respiratory syncytial virus [3] Share Structure and Governance - In connection with the merger, the company issued shares of Series A and Series B Preferred Stock to former Decoy stockholders and debtholders, with a total of 4,814,106 common shares underlying these preferred shares [6] - A special stockholder meeting will be called to approve the conversion of the preferred stock into common stock [7]

Core Points - Salarius Pharmaceuticals Inc. shares increased by 23.65% in after-hours trading, closing at $1.21, following the announcement of pricing details for its public offering [1] - The stock had previously dropped 51% during regular trading, closing at $0.98 [1] Offering Details - Salarius announced a public offering aimed at raising approximately $7 million in gross proceeds before fees [2] - The offering includes 2.51 million common stock shares and pre-funded warrants for 2.15 million shares, priced at $1.50 per share [2] Warrant Structure and Terms - The exercise price for both Series A and Series B warrants is set at $1.50 [3] - Series B warrants have a one-year exercise window, while Series A warrants can be exercised for five years after issuance [3] - The warrants feature fixed pricing with no variable pricing elements [3] Merger-Contingent Closing - The closing of the offering is contingent upon the completion of Salarius' proposed business combination with Decoy Therapeutics Inc., expected to occur on Wednesday [4] - Ladenburg Thalmann & Co. Inc. is the sole book-running manager for the offering [4] - Proceeds from the offering will be used to fund research programs, repay Decoy's promissory notes, and cover working capital needs [4] Stock Performance - Year-to-date, Salarius' stock has decreased by 96.25% [5] - The company has a market capitalization of $1.03 million and an average daily trading volume of 318,090 shares [5] - Benzinga Edge Stock Rankings indicate a negative price trend for SLRX across all time frames [5]

Company Performance - Salarius Pharmaceuticals, Inc. experienced a dramatic drop of approximately 49.5%, with its stock price falling to $1.01, reflecting volatility in the biotechnology sector focused on cancer treatments [1][6] - Vor Biopharma Inc. saw its stock price halve, decreasing by 47.77% to $9.82, following a significant market correction from a yearly high of $65.8, despite securing a $100 million offering [2] - Outset Medical, Inc. witnessed a 46.89% decline in its stock price to $6.40, indicating broader challenges within the healthcare sector, particularly for medical device companies [3] - Epsium Enterprise Limited's stock price decreased by 43.1% to $3.27, with a significant range in its stock price over the past year, reflecting market adjustments in the alcoholic beverages sector [4] Market Sentiment - The significant price movements highlight the volatility and challenges faced by companies across various sectors, prompting market participants to monitor these companies for signs of recovery or further adjustments [5]

Market Overview - U.S. stocks showed mixed performance with the Dow Jones index increasing by 0.64% to 47,673.48, while the NASDAQ decreased by 0.79% to 23,340.59 and the S&P 500 fell by 0.23% to 6,817.03 [1] - Energy shares experienced a rise of 1.2%, while information technology stocks saw a decline of 0.9% [1] Company Highlights - RealReal Inc (NASDAQ:REAL) shares surged after reporting better-than-expected third-quarter financial results and providing fourth-quarter sales guidance above estimates, along with an increase in FY25 sales guidance [2] - enGene Holdings Inc (NASDAQ:ENGN) shares increased by 72% to $10.34 following positive Phase 2 LEGEND study data showing a 63% complete response rate [9] - Energy Vault Holdings Inc (NYSE:NRGV) shares rose by 30% to $4.62 after releasing third-quarter results [9] - Surmodics Inc (NASDAQ:SRDX) shares gained 49% to $40.80 after a court denied the FTC's attempt to block GTCR's acquisition [9] - Vor Biopharma Inc (NASDAQ:VOR) shares dropped by 50% to $9.32 due to the announcement of a $100 million public offering [9] - Salarius Pharmaceuticals Inc (NASDAQ:SLRX) shares fell by 50% to $1.00 after announcing a $7 million underwritten public offering [9] - Outset Medical Inc (NASDAQ:OM) shares decreased by 50% to $6.07 after reporting worse-than-expected third-quarter results and lowering FY25 sales guidance [9] Commodity Market - Oil prices increased by 1.5% to $61.00, while gold rose by 0.3% to $4,134.70 [5] - Silver prices went up by 0.8% to $50.730, whereas copper fell by 0.4% to $5.0845 [5] European Market - European shares showed positive movement with the eurozone's STOXX 600 rising by 1.05%, Spain's IBEX 35 Index gaining 1.05%, and London's FTSE 100 increasing by 0.94% [6] Asian Market - Asian markets closed mixed, with Japan's Nikkei 225 down by 0.14%, Hong Kong's Hang Seng up by 0.18%, China's Shanghai Composite down by 0.39%, and India's BSE Sensex rising by 0.40% [7]

Market Overview - U.S. stocks showed mixed performance with the Dow Jones index increasing by 0.64% to 47,673.48, while the NASDAQ decreased by 0.79% to 23,340.59 and the S&P 500 fell by 0.23% to 6,817.03 [1] - Energy shares experienced a rise of 1.2%, while information technology stocks saw a decline of 0.9% [1] Company Performance - RealReal Inc (NASDAQ:REAL) shares surged after reporting better-than-expected third-quarter results and providing fourth-quarter sales guidance above estimates, along with an increase in FY25 sales guidance [2] - enGene Holdings Inc (NASDAQ:ENGN) shares increased by 72% to $10.34 following positive Phase 2 LEGEND study data showing a 63% complete response rate [9] - Energy Vault Holdings Inc (NYSE:NRGV) shares rose by 30% to $4.62 after releasing third-quarter results [9] - Surmodics Inc (NASDAQ:SRDX) shares gained 49% to $40.80 after a court denied the FTC's attempt to block GTCR's acquisition [9] - Vor Biopharma Inc (NASDAQ:VOR) shares dropped by 50% to $9.32 due to the announcement of a $100 million public offering [9] - Salarius Pharmaceuticals Inc (NASDAQ:SLRX) shares fell by 50% to $1.00 after announcing a $7 million underwritten public offering [9] - Outset Medical Inc (NASDAQ:OM) shares decreased by 50% to $6.07 following worse-than-expected third-quarter results and a cut in FY25 sales guidance [9] Commodity Market - Oil prices increased by 1.5% to $61.00, while gold rose by 0.3% to $4,134.70 [5] - Silver traded up by 0.8% to $50.730, whereas copper fell by 0.4% to $5.0845 [5] European Market - European shares showed positive movement with the eurozone's STOXX 600 rising by 1.05%, Spain's IBEX 35 Index gaining 1.05%, and London's FTSE 100 increasing by 0.94% [6] Asian Market - Asian markets closed mixed, with Japan's Nikkei 225 down by 0.14%, Hong Kong's Hang Seng up by 0.18%, China's Shanghai Composite down by 0.39%, and India's BSE Sensex up by 0.40% [7]

Market Overview - U.S. stocks exhibited mixed trading, with the Nasdaq Composite declining over 0.4% on Tuesday. The Dow increased by 0.13% to 47,430.01, while the S&P 500 fell by 0.15% to 6,823.18 [1] - Energy shares rose by 0.9%, whereas information technology stocks decreased by 0.7% [1] Company Performance - Sea Ltd (NYSE:SE) saw its shares rise approximately 4% after reporting fiscal Q3 2025 results, with revenue increasing by 38.3% year-on-year to $5.99 billion, surpassing analyst expectations of $5.65 billion. However, earnings per share were 59 cents, missing the consensus forecast of 77 cents [2] Commodity Market - In commodity trading, oil prices increased by 1.1% to $60.76, gold rose by 0.7% to $4,151.60, silver gained 1.4% to $51.030, while copper fell by 0.3% to $5.0915 [5] European Market - European shares experienced gains, with the eurozone's STOXX 600 rising by 0.8%, Spain's IBEX 35 Index up by 0.8%, London's FTSE 100 increasing by 0.8%, Germany's DAX 40 gaining 0.2%, and France's CAC 40 climbing by 0.9% [6] Asian Market - Asian markets closed mixed, with Japan's Nikkei 225 down by 0.14%, Hong Kong's Hang Seng up by 0.18%, China's Shanghai Composite declining by 0.39%, and India's BSE Sensex rising by 0.40% [7] Notable Stock Movements - MSP Recovery Inc (NASDAQ:MSPR) shares surged 104% to $0.65 after a previous decline of 15%. Quoin Pharmaceuticals Ltd (NASDAQ:QNRX) shares increased by 51% to $12.47 following the announcement of achieving target loadings for proprietary delivery technologies. Surmodics Inc (NASDAQ:SRDX) shares rose by 50% to $41.08 after a court denied the FTC's bid to block an acquisition [9] - Conversely, Vor Biopharma Inc (NASDAQ:VOR) shares dropped 48% to $9.87 due to a public offering announcement, while Salarius Pharmaceuticals Inc (NASDAQ:SLRX) fell 50% to $1.00 after announcing a $7 million public offering. Outset Medical Inc (NASDAQ:OM) shares decreased by 42% to $7.04 following worse-than-expected Q3 results and a lowered FY25 sales guidance [9]

Core Viewpoint - Salarius Pharmaceuticals, Inc. has announced a public offering expected to raise approximately $7 million before expenses, which will be used to advance clinical development and for general corporate purposes [1][5]. Offering Details - The offering consists of 2,514,335 shares of common stock and pre-funded warrants for 2,152,331 shares, along with Series A and Series B Warrants for a total of 4,666,666 shares each [2]. - The public offering price is set at $1.50 per share and accompanying warrants, and $1.4999 per pre-funded warrant and accompanying warrants [2]. - Ladenburg Thalmann & Co. Inc. is the sole book-running manager for the offering [3]. Closing Conditions - The closing of the offering is anticipated on or about November 12, 2025, contingent upon the completion of a proposed business combination with Decoy Therapeutics Inc. [4]. - An option has been granted to the underwriter to purchase an additional 699,999 shares and/or warrants within 45 days at the public offering prices [4]. Use of Proceeds - The net proceeds from the offering will be allocated to advancing clinical development programs, paying off Decoy's promissory notes, and for general corporate purposes including working capital and capital expenditures [5]. Warrant Details - Pre-funded warrants have an exercise price of $0.0001 and are immediately exercisable, while Series A and Series B Warrants have an exercise price of $1.50, with different exercise periods [6]. Company Background - Salarius Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing treatments for cancer, with its lead candidate seclidemstat currently in a Phase 1/2 clinical study [10]. - Decoy Therapeutics, Inc. is a preclinical-stage biotechnology company utilizing machine learning and AI for drug development, focusing on respiratory viruses and GI cancers [11].

Core Points - Salarius Pharmaceuticals has regained compliance with Nasdaq Listing Rule 5550(b)(1), the Equity Standard Requirement, as of October 10, 2025, following its earlier compliance with Listing Rule 5550(a)(2) on September 9, 2025 [1][2] Group 1: Compliance and Merger - The company is now fully compliant with all Nasdaq listing requirements, which is a significant step towards its planned merger with Decoy Therapeutics [2] - Salarius entered into a definitive merger agreement with Decoy Therapeutics on January 13, 2025, where Decoy will merge with a wholly owned subsidiary of Salarius, forming a new entity named Decoy Therapeutics [3] - Following the compliance notice, Salarius will be under a Mandatory Panel Monitor for one year, during which any non-compliance could lead to a delisting determination [4] Group 2: Merger Details and Pipeline - The merger is expected to create multiple value-creating opportunities through Decoy's pipeline of peptide conjugate therapeutics, which targets unmet medical needs in respiratory infectious diseases and GI oncology [5] - The combined company will focus on advancing Decoy's lead asset, a pan-coronavirus antiviral, and other programs targeting flu, COVID-19, RSV, and GI cancers [7] - Salarius' existing drug candidate, SP-3164, will be integrated into the new company's drug development strategy [5][6] Group 3: Company Backgrounds - Decoy Therapeutics is a preclinical-stage biotechnology company utilizing machine learning and AI for rapid design and manufacturing of peptide conjugate drug candidates [9] - Salarius Pharmaceuticals is a clinical-stage biopharmaceutical company with two drug candidates focused on cancer treatment, including seclidemstat and SP-3164 [10][11]