Trading under DCOY to commence on January 8, 2026 Company’s proprietary peptide-conjugate platform leverages AI-enabled computational infrastructure to accelerate candidate selection Capital-efficient 2026 plan features advancing lead antiviral into the clinic while expanding pipeline and partnership opportunities CAMBRIDGE, Mass., Jan. 07, 2026 (GLOBE NEWSWIRE) -- Salarius Pharmaceuticals, Inc. (NASDAQ: SLRX) (Salarius) announces it will change its corporate name to Decoy Therapeutics Inc. (Decoy) and its ...

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Core Viewpoint - Salarius Pharmaceuticals has adjourned its 2025 Annual Meeting of Stockholders to solicit additional votes due to insufficient quorum, with the meeting reconvened for December 31, 2025 [1][2]. Company Information - Salarius Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing new treatment options for cancer patients, with two drug candidates in its portfolio: seclidemstat and SP-3164 [9]. - Seclidemstat is being studied in a Phase 1/2 clinical trial for hematologic cancers at MD Anderson Cancer Center, targeting myelodysplastic syndrome (MDS) and chronic myelomonocytic leukemia (CMML) [9]. - SP-3164 is an oral small molecule protein degrader currently in the IND stage [9]. - The company has received financial support for its drug candidates from various organizations, including the National Pediatric Cancer Foundation and the Cancer Prevention and Research Institute of Texas [9]. Meeting Details - The required quorum for the Annual Meeting is 34% of outstanding shares, but only approximately 30% of shares were represented at the time of adjournment [2][3]. - Stockholders eligible to vote are encouraged to do so via the Internet or phone, with the record date for voting remaining October 24, 2025 [3][4]. - The reconvened meeting will be held virtually, allowing stockholders to participate online [2]. Subsidiary Information - Salarius' subsidiary, Decoy Therapeutics Inc., is a preclinical-stage biotechnology company utilizing machine learning and AI tools to develop peptide conjugate drug candidates targeting unmet medical needs, particularly in respiratory viruses and gastrointestinal cancers [7]. - Decoy has secured financing from institutional investors and various funding programs, including the Massachusetts Life Sciences Seed Fund and the Google AI startup program [7].

The combined Company will move forward as Decoy Therapeutics, Inc. and trade on the NASDAQ Stock Market under the ticker “DCOY” effective in early January 2026 Company to focus on advancing lead antiviral programs, expanding platform validation and achieving multiple data milestones Strategic 2026 roadmap designed to accelerate development, expand pipeline breadth, and drive long-term shareholder value HOUSTON, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Salarius Pharmaceuticals, Inc. (NASDAQ: SLRX) today announced t ...

Core Insights - Decoy Therapeutics, a subsidiary of Salarius Pharmaceuticals, is developing influenza fusion inhibitors using its proprietary IMP3ACT™ platform, which shows promising in silico binding energy to viral target proteins, indicating potential anti-flu activity [1][2] - The collaboration with Texas Biomedical Research Institute aims to conduct in vitro testing of these inhibitors across various influenza strains, including H5N1 avian flu, addressing the urgent need for effective antiviral treatments [1][3] Company Developments - Salarius has completed a merger with Decoy Therapeutics and raised $8 million through a public offering, focusing on advancing its pipeline of peptide conjugate therapeutics [4] - The company aims to leverage its IMP3ACT platform to create a single antiviral therapeutic effective against influenza, COVID-19, and RSV, potentially addressing a significant global commercial opportunity [4][11] Industry Context - Seasonal influenza and related illnesses result in over 10 million medical visits annually in the U.S., highlighting a substantial unmet medical need [4] - The World Health Organization reports approximately 1 billion cases of seasonal influenza each year, with severe cases leading to 290,000 to 650,000 respiratory deaths, emphasizing the critical need for new antiviral therapies [7][11] Technological Advancements - The IMP3ACT platform utilizes machine learning and rapid synthesis techniques to design and manufacture peptide conjugate therapeutics, enhancing the speed and efficiency of drug development [3][8] - Decoy's technology has shown effectiveness against multiple human coronaviruses and RSV, indicating its potential for broad application in infectious diseases [9][11]

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]