Salarius Pharmaceuticals granted Nasdaq extension to regain listing compliance

Salarius Pharmaceuticals, Inc. (NASDAQ:SLRX) announced Monday that it has received an additional extension from the Nasdaq Hearings Panel to regain compliance with Nasdaq’s listing requirements. The extension gives the company until mid August 2025 to meet the equity standard under Nasdaq Listing Rule 5550(b)(1), and until late August 2025 to satisfy the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).

According to a statement based on a Securities and Exchange Commission filing, Salarius had previously received notices from Nasdaq regarding its noncompliance. On April 23, 2025, the company was informed that its common stock had closed below the $1.00 minimum bid price for 30 consecutive business days, making it noncompliant with the minimum bid price rule. Currently trading at $0.74, the stock has fallen significantly from its 52-week high of $7.20. Salarius was not eligible for the standard 180-day compliance period due to a reverse stock split within the prior year.

Additionally, on March 26, 2025, Nasdaq notified Salarius that it no longer complied with the equity standard based on its Form 10-K for the year ended December 31, 2024. InvestingPro data shows the company’s financial health score is rated as ’FAIR’, with analysts not anticipating profitability this year. The company was initially given until May 12, 2025, to regain compliance or submit a plan to do so, but the failure to meet the minimum bid price requirement constituted a separate reason for potential delisting.

Salarius requested a hearing, which stayed any suspension or delisting action. On June 11, 2025, the Nasdaq Hearings Panel granted an initial extension, requiring the company to achieve certain milestones, including regaining compliance with the equity standard by early July 2025 and with the minimum bid price rule by early August 2025. On July 11, 2025, an additional extension was granted for the equity standard deadline to late July 2025.

The latest extension now allows Salarius until mid August 2025 to meet the equity standard and until late August 2025 to satisfy the minimum bid price requirement. The company’s continued listing on the Nasdaq Capital Market is contingent upon meeting these conditions.

This information is based on a press release statement contained in a recent SEC filing.

In other recent news, Salarius Pharmaceuticals, Inc. has announced several significant developments. The company reported that its shareholders have approved a reverse stock split and share issuance, with the exact ratio and timing to be determined by the board of directors. This decision was made during a special meeting where 561,364 out of 789,213 shares voted in favor. Additionally, Salarius Pharmaceuticals has amended its merger agreement with Decoy Therapeutics, Inc. to address changes in market conditions. This amendment, labeled Amendment No. 2, aims to secure necessary consents from Decoy noteholders and adjusts the exchange ratio to increase the number of shares issued to Decoy stockholders by approximately 17 million shares. Furthermore, a third amendment to the merger agreement was signed, allowing certain holders of Decoy’s promissory notes to exchange their debt for Series B Non-Voting Convertible Preferred Stock. This move aligns the terms of the Series B Preferred Stock closely with those of the Series A Preferred Stock, with specific adjustments in conversion and redemption provisions. These recent developments reflect Salarius Pharmaceuticals’ strategic maneuvers in response to market shifts and shareholder decisions.

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