Salarius Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

Salarius Pharmaceuticals (Nasdaq: SLRX) announced the launch of an underwritten public offering of its common stock. The offering, managed by Ladenburg Thalmann & Co. Inc., is subject to market conditions and may not be completed as planned. The company has a shelf registration statement effective as of May 17, 2019. Salarius focuses on developing treatments for cancers linked to dysregulated gene expression, with its lead candidate, seclidemstat, under clinical evaluation for Ewing sarcoma and other tumors. Risks related to the offering and market conditions are highlighted in the release.

Positive

• Salarius is developing seclidemstat, which has multiple designations from the FDA, indicating potential for market approval.
• Funds from the public offering may be used to advance clinical studies and drug development.

Negative

• The public offering may lead to shareholder dilution.
• Completion of the offering is uncertain due to market conditions.

HOUSTON, July 29, 2020 (GLOBE NEWSWIRE) -- Salarius Pharmaceuticals, Inc. (Nasdaq: SLRX), a clinical-stage oncology company targeting cancers caused by dysregulated gene expression, today announced that it has commenced an underwritten public offering of shares of its common stock.  All of the shares are being offered by Salarius.  The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Ladenburg Thalmann & Co. Inc. is acting as sole book-running manager in connection with the public offering.

A shelf registration statement on Form S-3 (File No. 333-231010) relating to the shares was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on May 17, 2019.  A copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained be obtained at the SEC’s website at www.sec.gov or from Ladenburg Thalmann & Co. Inc., Attn: Prospectus Department, 277 Park Avenue, 26th Floor, New York, New York 10172, by calling (212) 409-2000.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Salarius Pharmaceuticals, Inc.

Salarius Pharmaceuticals, Inc. is a clinical-stage oncology company targeting cancers caused by dysregulated gene expression, or epigenetic causes of cancers and is developing treatments for patients that need them the most.  Epigenetics refers to the regulatory system that affects gene expression. Salarius’ lead candidate, seclidemstat, is currently in clinical development for treating Ewing sarcoma, for which it has Fast Track Designation, Orphan Drug Designation and Rare Pediatric Disease Designation by the U.S. Food and Drug Administration.  Salarius is also developing seclidemstat for a number of cancers, with a second Phase 1/2 clinical study in advanced solid tumors, including prostate, breast, and ovarian cancers.

Forward-Looking Statements

This press release contains forward-looking statements within the Private Securities Litigation Reform Act of 1995, including statements that relate to the offering, the expected completion of the offering, and other information that is not historical information.  Actual results or developments may differ materially from those projected or implied in these forward-looking statements.  Factors that may cause such a difference include risks and uncertainties related to completion of the public offering on the anticipated terms or at all, market conditions, the impact of the COVID-19 pandemic, and the satisfaction of customary closing conditions related to the public offering.  More information about the risks and uncertainties faced by Salarius is contained in the sections captioned “Risk Factors” in the preliminary prospectus supplement and the accompanying prospectus related to the public offering filed with the SEC, including the documents incorporated by reference therein.  Salarius disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Relations
Tiberend Strategic Advisors, Inc.
Maureen McEnroe, CFA/Miriam Miller
(212) 375-2664 / 2694
mmcenroe@tiberend.com
mmiller@tiberend.com

Media Relations
Tiberend Strategic Advisors, Inc.
Johanna Bennett
(212) 375-2686
jbennett@tiberend.com

FAQ

What is the current public offering by Salarius Pharmaceuticals (SLRX)?

Salarius Pharmaceuticals has commenced an underwritten public offering of its common stock, managed by Ladenburg Thalmann & Co. Inc.

What is the purpose of Salarius Pharmaceuticals' public offering?

The public offering aims to raise funds for advancing clinical studies and drug development.

What are the risks associated with Salarius Pharmaceuticals' stock offering?

Risks include potential shareholder dilution and uncertainty regarding the market conditions affecting the completion of the offering.

What clinical developments is Salarius Pharmaceuticals (SLRX) currently pursuing?

Salarius is focused on developing seclidemstat, which targets cancers caused by dysregulated gene expression and is currently in trials for Ewing sarcoma and other tumors.