Salarius Pharmaceuticals to implement 1-for-15 reverse stock split

HOUSTON - Salarius Pharmaceuticals, Inc. (NASDAQ:SLRX), a micro-cap biotech company with a market capitalization of just over $1 million, announced Thursday it will implement a 1-for-15 reverse stock split effective August 15, 2025, at 5:00 p.m. Eastern Time. According to InvestingPro data, the stock has fallen over 75% in the past year and currently trades near its 52-week low.

The clinical-stage biopharmaceutical company’s common stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market on August 18, 2025, under a new CUSIP number 79400X503.

According to the company’s statement, the reverse split aims to regain compliance with Nasdaq’s minimum $1.00 closing bid price requirement for continued listing.

Salarius stockholders approved the reverse split proposal at a special meeting on July 8, 2025, authorizing the Board of Directors to implement a ratio ranging from 1-for-4 to 1-for-40. The Board subsequently selected the specific 1-for-15 ratio.

The reverse split will reduce Salarius’ outstanding common shares from approximately 7.6 million to about 509,000. All outstanding options and warrants will be adjusted accordingly, and stockholders will receive cash in lieu of fractional shares based on the closing price on August 15.

The action will not affect stockholders’ ownership percentages, except in cases resulting in fractional shares. The reverse split will not reduce the number of authorized shares or change the par values of the company’s common or preferred stock.

Equiniti Trust Company is serving as the exchange agent and transfer agent for the reverse stock split, handling the exchange of pre-split certificates for post-split shares in book-entry form.

Salarius Pharmaceuticals focuses on developing cancer therapies using protein inhibition and protein degradation technologies. The company’s product portfolio includes seclidemstat, currently in a Phase 1/2 clinical study for potential treatment of MDS and CMML, and SP-3164, an IND-stage oral small molecule protein degrader. Want deeper insights into Salarius’s financial health and growth prospects? InvestingPro subscribers get access to detailed financial metrics, Fair Value analysis, and expert insights to make informed investment decisions.

In other recent news, Salarius Pharmaceuticals has been granted an extension by the Nasdaq Hearings Panel to meet its listing requirements, providing the company until mid-August 2025 to comply with the equity standard and until late August 2025 to satisfy the minimum bid price requirement. This extension follows previous notices of noncompliance due to the stock’s failure to maintain a minimum bid price of $1.00 per share. Additionally, Salarius Pharmaceuticals has amended its merger agreement with Decoy Therapeutics to allow certain debt holders to exchange their promissory notes for shares of Series B Non-Voting Convertible Preferred Stock. This move comes as part of an effort to facilitate a $6.0 million financing requirement. The merger agreement has undergone several amendments, including adjustments to the exchange ratio, increasing the number of shares of Common Stock issued to Decoy stockholders by approximately 17 million shares. Furthermore, Salarius shareholders have approved a reverse stock split and share issuance, with the specifics of the split to be determined by the board of directors. These developments highlight Salarius Pharmaceuticals’ ongoing efforts to navigate market conditions and regulatory requirements.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.