Core Viewpoint - Salarius Pharmaceuticals, Inc. will implement a 1-for-8 reverse stock split to comply with Nasdaq's minimum closing bid price requirement of $1.00, effective June 14, 2024 [1][7]. Group 1: Reverse Stock Split Details - The reverse stock split will reduce the number of outstanding shares from approximately 4.7 million to about 0.6 million [2]. - All outstanding options and warrants will be adjusted accordingly, and the number of shares reserved for future issuance under the 2015 Equity Incentive Plan and Employee Stock Purchase Plan will also be adjusted [2]. - Stockholders will receive cash for any fractional shares based on the closing price on June 14, 2024, and the par value of common and preferred stock will remain at $0.0001 per share [2][8]. Group 2: Company Overview - Salarius Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing cancer therapies, including seclidemstat for pediatric cancers and SP-3164 for non-Hodgkin's lymphoma [9]. - The company has received financial support from the National Pediatric Cancer Foundation and a Product Development Award from the Cancer Prevention and Research Institute of Texas [9].
Salarius Pharmaceuticals Announces 1-for-8 Reverse Stock Split