Salarius Pharmaceuticals regains compliance with Nasdaq listing rules

Salarius Pharmaceuticals (SLRX) received notice from the Nasdaq Stock Market that it has regained compliance with Nasdaq Listing Rule 5550(b)(1), the Equity Standard Requirement. This follows the Company’s announcement on September 9 that it had regained compliance with Nasdaq Listing Rule 5550(a)(2), the Minimum Bid Price Requirement. On January 13, Salarius announced it had entered into a definitive merger agreement for a business combination with Decoy Therapeutic. Under the agreement, 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. Nasdaq further notified the Company that it will be subject to a Mandatory Panel Monitor for a period of one year from October 10. If, within that one-year monitoring period, the Listing Qualifications Staff finds the Company out of compliance with the Equity Standard Requirement that was the subject of the exception, the Staff will issue a delisting determination letter and the Company will have the opportunity to request a hearing with the Nasdaq Hearings Panel.