HOUSTON, TX - Salarius Pharmaceuticals, Inc. (NASDAQ:SLRX), a company specializing in pharmaceutical preparations, has announced December 20, 2024, as the date for its 2024 Annual Meeting of Stockholders. The meeting details will be included in the proxy statement to be filed with the U.S. Securities and Exchange Commission (SEC) ahead of the event.
Shareholders on record as of October 25, 2024, will be eligible to vote at the Annual Meeting or any adjournment thereof. The announcement, made today, also informs shareholders of the new deadlines for proposal submissions to be presented at the meeting.
In compliance with SEC rules, proposals for inclusion in the proxy materials must be received by the Company's Secretary by the close of business on October 7, 2024. Proposals must adhere to SEC requirements and the Company's Bylaws to be eligible for inclusion.
Additionally, any stockholder proposals or director nominations not intended for inclusion in the proxy materials must also be received by October 7, 2024. These submissions must comply with the advance notice procedures outlined in the Company's Bylaws.
For stockholders intending to solicit proxies in support of director nominees other than the Company's nominees, they must adhere to the universal proxy rules and provide notice by October 21, 2024.
In other recent news, Salarius Pharmaceuticals, Inc. has registered additional shares of common stock worth up to $335,921, under an existing agreement with Ladenburg Thalmann & Co. Inc. The company has also registered two new stock offerings with the aim to raise up to $1,146,894. In a significant development, Salarius decided to discontinue its Phase 1/2 clinical trial of seclidemstat for Ewing sarcoma, as part of a strategy to conserve cash while seeking strategic alternatives.
Furthermore, Salarius faced a serious setback when a patient in a clinical trial experienced a grade 4 adverse event, leading to a partial clinical hold by the U.S. Food and Drug Administration. Despite this, the company will continue to support a separate clinical trial conducted by The University of Texas MD Anderson Cancer Center.
To meet Nasdaq's minimum bid price requirement, Salarius announced a 1-for-8 reverse stock split, reducing the number of issued and outstanding common stock shares. Equiniti Trust Company, LLC, has been appointed as the exchange agent and transfer agent for the reverse split process.
InvestingPro Insights
As Salarius Pharmaceuticals, Inc. (NASDAQ:SLRX) prepares for its 2024 Annual Meeting of Stockholders, investors should be aware of several key financial metrics and trends. According to InvestingPro data, SLRX's market capitalization stands at a modest $2.09 million, reflecting its status as a small-cap pharmaceutical company. The stock is currently trading near its 52-week low, with a significant price decline of 74.68% over the past year.
InvestingPro Tips highlight that SLRX holds more cash than debt on its balance sheet, which could be crucial for a pharmaceutical company investing in research and development. However, the company is not profitable over the last twelve months, with analysts not anticipating profitability this year. This aligns with the company's negative operating income of -$6.74 million for the last twelve months as of Q2 2024.
For investors considering SLRX, it's worth noting that the stock generally trades with high price volatility, which is evident in its recent performance. The 1-week and 1-month price total returns both stand at -15.79%, indicating recent downward pressure on the stock.
These insights provide context to the upcoming annual meeting and may influence shareholder decisions. InvestingPro offers 15 additional tips for SLRX, providing a more comprehensive analysis for those interested in deeper research on this pharmaceutical stock.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.