#USA #Houston #Clinical Trials #Salarius Pharmaceuticals #Decoy Therapeutics

Salarius Pharmaceuticals Completes Public Offering for $7 Million

On November 11, 2025, Salarius Pharmaceuticals, Inc. (NASDAQ: SLRX) revealed the successful pricing of an underwritten public offering that is projected to generate approximately $7 million in total proceeds before costs such as underwriting discounts and commissions. The offering includes a total of 2,514,335 shares of common stock, alongside pre-funded warrants that enable the purchase of an additional 2,152,331 shares. Each set of common stock comes with Series A and Series B Warrants offering opportunities to purchase up to 4,666,666 shares each.

The combined price per common share and accompanying warrants is set at $1.50, while the pre-funded warrants are priced at $1.4999—all subjected to execution until fulfilled in full. This offering is notably orchestrated by Ladenburg Thalmann & Co. Inc., acting as the primary book-running manager.

The anticipated closings are expected to occur around November 12, 2025, following the completion of primary closing conditions, including Salarius' merger transaction with Decoy Therapeutics, Inc. Moreover, the underwriters have been granted a 45-day option to acquire up to 699,999 additional shares or warrants at the public offering prices.

The net proceeds from this offering aim to enhance the clinical development for Salarius and Decoy’s research initiatives, clearly indicating the company's commitment to advancing its impactful oncology programs. This includes addressing certain extant promissory notes required by Decoy and covering essential corporate operational costs, research and development, as well as capital expenditures.

Details of the Offering

Each pre-funded warrant allows for immediate exercise at a price of $0.0001, while both Series A and Series B Warrants are available at $1.50 and are designed for a five-year and one-year term respectively from their award date.

The offering operates under a registration statement (Form S-1, File No. 333-284368), filed prior to its effective status achieved on November 10, 2025. Interested investors can review a preliminary prospectus lodged with the SEC on October 21, 2025, and the final prospectus will soon be accessible via the SEC's website. It is essential for prospective investors to familiarize themselves fully with the offering documents regarding the associated risks and Salarius' business prospects before making commitments.

Salarius Pharmaceuticals: A Brief Overview

Salarius Pharmaceuticals stands as a clinical-stage biopharmaceutical firm concentrated on developing treatments for cancer, particularly through its prominent candidate, seclidemstat, which is currently being investigated in a Phase 1/2 clinical study for hematologic cancers at MD Anderson Cancer Center. This innovative drug targets patients with limited treatment choices for conditions such as myelodysplastic syndromes (MDS) and chronic myelomonocytic leukemia (CMML).

In conjunction with its lead product, the company is also advancing SP-3164, an oral small-molecule protein degrader that is in the investigational new drug (IND) phase. Notably, Salarius had previously garnered financial backing for seclidemstat aimed at treating Ewing sarcoma, demonstrating its capability to attract funding from reputable sources such as the National Pediatric Cancer Foundation and the Cancer Prevention and Research Institute of Texas (CPRIT).

Collaboration with Decoy Therapeutics

In the backdrop of this initial offering, Salarius is poised to merge with Decoy Therapeutics, a biotech innovator that leverages artificial intelligence alongside machine learning to expedite the development of peptide-based treatment options for unmet medical needs. With a focus on respiratory viruses and gastrointestinal cancers, Decoy has already received an array of funding, including non-dilutive capital from prominent institutions such as the Massachusetts Life Sciences Seed Fund, and the Google AI startup program. Their incorporation and speedy development align with Salarius' strategy for advancing cancer therapies.

Conclusion

The recent public offering marks a significant step for Salarius Pharmaceuticals as it seeks to deepen its foothold in the competitive biopharmaceutical market. With ambitions to meld their promising research with Decoy’s innovative approach, the company is firmly positioned to navigate the complexities of clinical oncology and strive towards improving patient outcomes. As the closing date approaches, stakeholders and potential investors will closely monitor developments regarding Salarius and its operational trajectory.