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HOUSTON, TX – Salarius Pharmaceuticals, Inc. (SLRX), with a market capitalization of just $1.28 million, is confronting the potential delisting of its common stock from The Nasdaq Capital Market. The company’s stock, currently trading at $0.73, has declined over 81% in the past year according to InvestingPro data. The Houston-based company was notified on Monday that its stock price had not met the minimum bid price requirement of $1.00 for 30 consecutive business days, as mandated by Nasdaq’s listing rules.
The notice from Nasdaq also indicated that Salarius does not qualify for the usual 180-day period to regain compliance due to a reverse stock split conducted within the past year. While InvestingPro data shows the company maintains a healthy current ratio of 1.98 and holds more cash than debt, this development compounds the company’s challenges as it had already been cited on March 26, 2025, for falling short of the Nasdaq’s minimum stockholders’ equity threshold of $2.5 million.
Salarius has until April 30, 2025, to appeal the delisting decision. If the company does not appeal or if the appeal is unsuccessful, its securities will be suspended from trading at the start of business on May 2, 2025, and a Form 25-NSE will be filed with the SEC to formally delist the company’s securities.
The pharmaceutical company, which InvestingPro analysis rates as having "FAIR" financial health with a score of 1.93, plans to request a hearing with a Nasdaq Hearings Panel and will present its strategy to address the compliance issues. This strategy includes a planned merger with Decoy Therapeutics Inc., which the company hopes will help it meet the Nasdaq’s requirements. Nevertheless, there is no assurance that the Hearings Panel will rule in favor of Salarius or that its securities will remain listed. Investors seeking deeper insights into Salarius’s financial health metrics and 12 additional ProTips can access comprehensive analysis through InvestingPro’s advanced platform.
The information contained in this article is based on a press release statement from Salarius Pharmaceuticals, Inc. The company’s forward-looking statements regarding its plans to appeal the delisting and regain compliance with Nasdaq’s requirements are subject to various risks and uncertainties, and there can be no certainty of a favorable outcome. Salarius Pharmaceuticals has expressed that it does not intend to update any forward-looking statements to reflect new information or subsequent events or circumstances, except as required by law.
In other recent news, Salarius Pharmaceuticals, Inc. has amended its merger agreement with Decoy Therapeutics, Inc., establishing fixed ownership percentages for post-merger operations. Under the revised terms, Salarius stockholders will own 14.1%, while Decoy stockholders will hold 85.9% of the new entity. Concurrently, Salarius faces a compliance issue with Nasdaq, as it received a notice for not meeting the minimum stockholders’ equity requirement. The company plans to submit a compliance plan by May 12, 2025, to address this issue. Additionally, Salarius has initiated a registered offering of common stock shares valued at up to $417,000, as part of its financial strategy to raise capital. The offering is conducted under an existing agreement with Ladenburg Thalmann & Co. Inc. Furthermore, Salarius has resumed patient enrollment in a Phase 1/2 clinical trial for seclidemstat, a treatment for myelodysplastic syndrome and chronic myelomonocytic leukemia, after addressing FDA concerns. The trial is showing promising interim results, with a 43% overall response rate among patients. These developments highlight Salarius Pharmaceuticals’ ongoing efforts to navigate financial and clinical challenges while pursuing strategic growth opportunities.
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