Salarius Pharmaceuticals Inc - SLRX STOCK NEWS

Salarius Pharmaceuticals (NASDAQ: SLRX) and Decoy Therapeutics announced a definitive merger agreement. Decoy's IMP3ACT™ platform uses AI and ML for rapid peptide conjugate drug design. The combined company, to be named Decoy Therapeutics, will focus on developing peptide conjugate therapeutics for respiratory viruses and cancer.

Decoy has secured $7 million in non-dilutive funding from federal governments, corporations, and The Bill & Melinda Gates Foundation. Salarius' oral small molecule protein degrader SP-3164 will be integrated into Decoy’s pipeline. The new entity will be led by Decoy's co-founders and include executives from both companies.

Decoy aims to file an IND for a pan-coronavirus antiviral within 12 months. The merger is expected to create multiple value-creating inflection points, enhancing shareholder value. Ongoing development of Salarius' seclidemstat for hematologic cancers will continue, with strategic alternatives being evaluated.

Salarius Pharmaceuticals presented clinical data on seclidemstat combined with azacitidine for treating higher-risk myelodysplastic syndrome (MDS) and chronic myelomonocytic leukemia (CMML) at the 2024 European Hematology Association Annual Meeting.

The Phase 1/2 study reported a 43% overall response rate among 14 patients, with a median overall survival of 18.5 months and median event-free survival of 7.2 months.

The study included 16 enrolled patients, with 14 evaluable for efficacy and 15 for toxicity. Dose-limiting toxicity was observed in one patient in the 750mg BID cohort, leading to cohort expansion.

The maximum tolerated dose has not been reached, and the study will proceed to higher dose levels. Salarius believes the adverse events are manageable.

Results are considered promising for patients who have previously failed hypomethylating agent therapy.

Salarius Pharmaceuticals (NASDAQ: SLRX) announced a 1-for-8 reverse stock split effective June 14, 2024. Trading on a split-adjusted basis will begin on June 17, 2024. The reverse split aims to regain compliance with the $1.00 minimum closing bid price required by Nasdaq. This move reduces the number of issued and outstanding shares from approximately 4.7 million to about 0.6 million. Stockholders approved the proposal on May 9, 2024. The reverse split will uniformly affect all stockholders without altering ownership percentages, though cash will be given in lieu of fractional shares. The split does not impact the number of authorized shares or their par values. Equiniti Trust Company is the exchange agent for the split.

Salarius Pharmaceuticals, Inc. resumes patient enrollment in a clinical trial for Seclidemstat in combination with Azacitidine for hematologic cancers. The company implemented expense-reduction measures to extend cash runway. Financial results show a decrease in net loss for Q4 2023 compared to Q4 2022. Seclidemstat shows promising results in treating Ewing sarcoma.

Salarius Pharmaceuticals, Inc. (SLRX) implements cost-saving measures to extend cash runway till the first half of 2025. The measures support additional data generation from ongoing clinical trials in hematologic cancers and Ewing sarcoma, showing promising response rates.

Salarius Pharmaceuticals, Inc. (SLRX) has expanded its IP portfolio with composition-of-matter protection until 2039 for novel molecular glues, adding to its existing 17 issued patents across six patent families. This expansion covers the composition of matter for novel molecular glue degraders and extends the protection of Salarius’ targeted protein degradation (TPD) pipeline. The company is also exploring strategic options to advance the development of the TPD portfolio with third parties.

Salarius Pharmaceuticals, Inc. (Nasdaq: SLRX) announces that an additional Ewing sarcoma patient achieved a partial response in the Phase 1/2 clinical trial, bringing the objective response rate among first-relapse Ewing patients to 60%. The company continues to support clinical programs while exploring strategic alternatives. The FDA has removed the partial clinical hold on the MD Anderson trial with seclidemstat in blood cancers.

Salarius Pharmaceuticals, Inc. participated in an FDA Type B End-of-Phase 2 (EOP2) meeting to receive guidance regarding the development program for seclidemstat to treat Ewing sarcoma. The meeting included new Ewing sarcoma clinical data from an ongoing investigation, showing promising results for first-relapse patients. The company is amending the current clinical trial protocol to reflect guidance agreed to with FDA during the EOP2 meeting. Additionally, Salarius is evaluating strategic options to advance the clinical development of seclidemstat with a third party.

Salarius Pharmaceuticals, Inc. (Nasdaq: SLRX) reported FDA removal of partial clinical hold for Ewing sarcoma Phase 1/2 study with seclidemstat SP-3164. The company also announced plans to explore strategic alternatives and implement cost-savings measures due to financial constraints. Key financial highlights include $11.5 million cash as of June 30, 2023, net loss of $3.9 million for Q2 2023, and a reduction in workforce by over 50%. The company is conducting a comprehensive review of strategic alternatives focused on maximizing shareholder value.