Salarius granted additional extension to regain Nasdaq compliance

Salarius Pharmaceuticals (SLRX) announces that on July 10 the Company received notification from The Nasdaq Stock Market of an additional extension to regain compliance with Nasdaq Listing Rule 5550(b)(1) by late July. As previously disclosed, Salarius must also regain compliance with Nasdaq Listing Rule 5550(a)(2) by early August 2025. On April 23, Salarius was notified by Nasdaq that it was not in compliance with Nasdaq Listing Rule 5550(a)(2) because the closing bid price of Salarius’ common stock for the prior 30 consecutive business days was lower than the minimum bid price requirement of $1.00 per share. On March 26, Nasdaq notified the Company that it no longer complied with the requirement under Nasdaq Listing Rule 5550(b)(1) to maintain a minimum of $2.5M in stockholders’ equity for continued listing on The Nasdaq Stock Market. On June 16, Salarius disclosed that the Nasdaq Hearings Panel had granted an extension contingent on Salarius achieving milestones that consist of regaining compliance with the Equity Standard by early July, and regaining compliance with the Minimum Bid Price Requirement by early August. On January 13, Salarius announced entry into a definitive merger agreement for a business combination with Decoy Therapeutics. Under the definitive agreement announced on January 13, Decoy will merge with a wholly owned subsidiary of Salarius, subject to the closing conditions set forth in the agreement. The newly formed company will be named Decoy Therapeutics.