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].

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]