Core Points - Salarius Pharmaceuticals received an extension from Nasdaq to regain compliance with listing rules by late July 2025 and early August 2025 [1][2] - The company is in the process of merging with Decoy Therapeutics, a preclinical biopharmaceutical company focused on peptide conjugate therapeutics [3][4] - The merger is expected to create value through Decoy's innovative pipeline targeting respiratory infectious diseases and GI oncology [4][6] Compliance with Nasdaq - Salarius was notified on April 23, 2025, that it was not compliant with Nasdaq Listing Rule 5550(a)(2) due to a closing bid price below $1.00 per share for 30 consecutive business days [2] - The company also failed to meet the requirement of maintaining at least $2.5 million in stockholders' equity as per Nasdaq Listing Rule 5550(b)(1) [2] - An extension was granted contingent on achieving compliance milestones by early July and early August 2025 [2] Merger with Decoy Therapeutics - The merger agreement was announced on January 13, 2025, and will involve Decoy merging with a wholly owned subsidiary of Salarius [3][11] - The combined company will be named Decoy Therapeutics and will focus on advancing Decoy's peptide conjugate therapeutics and Salarius' SP-3164 [4][11] - Following the merger, Decoy investors are expected to own approximately 92.4% of the merged company, while Salarius stockholders will own about 7.6% [11] Product Pipeline and Development - Decoy plans to advance its lead asset, a pan-coronavirus antiviral, to the FDA for an Investigational New Drug (IND) application within the next 12 months [6] - The company is also working on other antiviral programs and peptide drug conjugates targeting GI cancers [6] - Salarius' seclidemstat is being evaluated in a Phase 1/2 clinical study for myelodysplastic syndrome and chronic myelomonocytic leukemia [7][10] About Decoy Therapeutics - Decoy is leveraging machine learning and AI to design and manufacture peptide conjugate drug candidates targeting unmet medical needs [8] - The company has received funding from various sources, including institutional investors and government programs [8] About Salarius Pharmaceuticals - Salarius is a clinical-stage biopharmaceutical company with two drug candidates focused on cancer treatment [9][10] - The company has received financial support for its lead candidate, seclidemstat, from various organizations [10]