Core Viewpoint - Salarius Pharmaceuticals, Inc. will implement a 1-for-15 reverse stock split to regain compliance with Nasdaq's minimum closing bid price requirement of $1.00 [2][4]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect at 5:00 p.m. Eastern Time on August 15, 2025, with trading on a split-adjusted basis starting August 18, 2025 [1]. - The number of shares outstanding will decrease from approximately 7.6 million to about 509,000 shares [4]. - All outstanding options and warrants will be adjusted accordingly, and stockholders will receive cash for any fractional shares based on the closing price on August 15, 2025 [4][5]. Group 2: Approval Process - Stockholders approved the reverse stock split proposal at a special meeting on July 8, 2025, allowing the Board of Directors to determine the split ratio [3]. - The specific 1-for-15 ratio was subsequently approved by the Board of Directors [3]. Group 3: Company Overview - Salarius Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing cancer therapies, with two drug candidates: seclidemstat and SP-3164 [7]. - Seclidemstat is being studied in a Phase 1/2 clinical trial for hematologic cancers, while SP-3164 is an oral small molecule protein degrader [7].

HOUSTON, July 14, 2025 (GLOBE NEWSWIRE) -- Salarius Pharmaceuticals, Inc. (Nasdaq: SLRX) (Salarius or the Company) announces that on July 10, 2025 the Company received notification from The Nasdaq Stock Market LLC (Nasdaq) of an additional extension to regain compliance with Nasdaq Listing Rule 5550(b)(1) (Equity Standard) by late July 2025. As previously disclosed, Salarius must also regain compliance with Nasdaq Listing Rule 5550(a)(2) (Minimum Bid Price Requirement) by early August 2025. About the Planne ...

Core Insights - Decoy Therapeutics, Inc. is set to merge with Salarius Pharmaceuticals, Inc., with the new entity retaining the name Decoy Therapeutics, following the completion of the merger [1][10] - Renowned MIT Professor Robert S. Langer will join Decoy's Scientific Advisory Board, bringing extensive expertise in drug delivery systems and tissue engineering [1][2][3] Company Overview - Decoy Therapeutics is a preclinical-stage biotechnology company focused on developing peptide-conjugate therapeutics targeting unmet medical needs, particularly in respiratory viruses and gastrointestinal cancers [8] - The company utilizes a proprietary IMP3ACT platform that integrates machine learning and AI for rapid design and synthesis of novel antiviral and cancer therapies [5][7] Scientific Advisory Board - Dr. Robert S. Langer's appointment to the Scientific Advisory Board is expected to enhance Decoy's capabilities in drug design and development, particularly in dosage forms and administration routes [3][4] - Dr. Langer's contributions to the field include pioneering work that has led to transformative medicines, such as Roche's Avastin and Moderna's Spikevax [2][4] Technology and Innovation - Decoy's IMP3ACT platform allows for the rapid computational design of peptide-conjugate drugs, which have shown effectiveness against various human coronaviruses and other viral pathogens [5][7] - The technology leverages peptide chemistry to create multimeric conjugates that improve drug-like properties and pharmacokinetics [7] Financial and Strategic Position - Decoy has secured financing from institutional investors and non-dilutive capital sources, including the Massachusetts Life Sciences Seed Fund and the Google AI startup program [8] - The merger with Salarius is structured such that Decoy investors will own approximately 86% of the merged company, while Salarius stockholders will own about 14% [10]

Core Viewpoint - Salarius Pharmaceuticals is progressing with its merger with Decoy Therapeutics, which is expected to enhance the clinical development of innovative peptide conjugate therapeutics targeting respiratory viruses and cancer [1][3][5] Financial Highlights - For the year ended December 31, 2024, Salarius reported a net loss of $5.6 million, or $5.79 per share, a significant reduction from a net loss of $12.5 million, or $30.74 per share in 2023 [8][17] - Cash and cash equivalents decreased to $2.4 million as of December 31, 2024, down from $5.9 million a year earlier [8][15] - Total operating expenses for 2024 were $5.7 million, compared to $12.9 million in 2023, reflecting a substantial decrease in research and development spending [17] Merger Details - The merger with Decoy Therapeutics is structured such that Decoy investors will own approximately 86% of the combined company, while Salarius stockholders will own about 14%, subject to adjustments [10] - The merger aims to leverage Decoy's IMPACT™ platform for rapid design and manufacturing of peptide conjugate therapeutics, addressing unmet needs in respiratory infectious diseases and gastrointestinal oncology [3][4] Product Development - Salarius' lead candidate, seclidemstat, is currently in a Phase 1/2 clinical trial at MD Anderson Cancer Center for treating hematologic cancers, with updates expected later this year [1][4][5] - The combined company plans to integrate Salarius' SP-3164 into a targeted peptide-based PROTACS drug candidate [4]