HOUSTON, March 08, 2021 (GLOBE NEWSWIRE) – Salarius Pharmaceuticals, Inc. (Nasdaq: SLRX), a clinical-stage biopharmaceutical company developing potential new drugs for patients with pediatric cancers, solid tumors and other cancers, today announced the closing of its previously announced subscribed public offering of 16,806,722 common shares, of which 2,192,181 were sold following the full exercise of the underwriters’ option to purchase additional shares, at a public offering price of $ 1.3685 per share. Following the exercise of the underwriters’ over-allotment option, the total gross proceeds of the offer for Salarius, before deduction of discounts and underwriting fees and other costs related to the offer, amounted to to about $ 23 million.
“Today’s funding, along with other recent events, provides Salarius with approximately $ 37 million in liquidity and funding through the completion of our ongoing clinical trials and beyond for our lead drug candidate,” seclidemstat, ”said David Arthur, President and CEO of Salarius. Medications. “We are now treating three separate patient populations for Ewing’s and Ewing’s sarcomas with seclidemstat as part of a rapid-to-market strategy and look forward to releasing data from our ongoing clinical trials in June 2021. Each of these patient populations represents a potential regulatory pathway to approval and a corresponding business opportunity. Our ultimate goal is to expand the use of seclidemstat to benefit more patients by continuing to develop seclidemstat in broader market indications including solid tumors and hematologic cancers. Today is an important step in our mission to develop new treatment options for patients in their fight against cancer. “
Ladenburg Thalmann & Co. Inc. acted as sole bookrunner in connection with the public offering.
The securities were offered pursuant to a registration statement on Form S-3 (File No. 333-231010), which was declared effective by the United States Securities and Exchange Commission (the “SEC”) on May 17. 2019. A copy of the final prospectus supplement and accompanying prospectus relating to the offering can be obtained on the SEC’s website at www.sec.gov or from Ladenburg Thalmann & Co. Inc. , Attn: Prospectus Department, 640 Fifth Avenue, 4e Floor, New York, NY 10019 or by calling (212) 409-2000.
This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal 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 biopharmaceutical company developing cancer therapies for patients in need of new treatment options. Salarius’ lead candidate, seclidemstat, is being investigated as a potential treatment for pediatric cancers, solid tumors and other cancers with limited treatment options. Seclidemstat is currently in a Phase 1/2 clinical trial for relapsed / refractory Ewing’s sarcoma, for which it has received Fast Track designation, orphan drug designation, and rare pediatric disease designation from the Food and Drug Administration. the United States. Salarius is also developing seclidemstat for several cancers with high unmet medical need, with a second clinical study in advanced solid tumors, including prostate, breast and ovarian cancers. Salarius received financial support from the National Pediatric Cancer Foundation to advance the Ewing sarcoma clinical program and also received a Product Development Award from the Cancer Prevention and Research Institute of Texas (CPRIT). For more information, please visit salariuspharma.com.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included in this press release are forward-looking statements. These forward-looking statements may be identified by terms such as “anticipate”, “potential”, “progress”, “design”, “estimate”, “continue”, “will”, “aim”, “power”, “believe,” “” plan “,” enable “,” expect “,” intend “,” objective “,” provide “,” power “,” position “,” plan “,” develop “and terms or similar expressions or the negative thereof.Examples of such statements include, but are not limited to, statements relating to the following: the status and planned progress and milestones of Salarius’ sarcoma clinical trials Relapsed and refractory Ewing and Ewing related sarcomas; Salarius develops cancer therapies for patients who need it most; Development of the Salarius seclidemstat for several cancers with high unmet medical need; Salarius develops seclidemstat as a potential treatment for pediatric cancers, tumors so lides and other cancers with limited treatment options; the potential of seclidemstat as a treatment for Ewing’s sarcoma and Ewing-related sarcomas; the ability and extent to which seclidemstat might impact the treatment of Ewing’s sarcoma and Ewing’s sarcoma; the ability of Salarius to amplify the use of seclidemstat; and Salarius’ ability to expand the use of seclidemstat to other cancer indications. Salarius may not actually carry out the plans, achieve the intentions or meet the expectations or objectives disclosed in the forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements are subject to risks and uncertainties which could cause actual results and performance to differ materially from those referred to in forward-looking statements. These risks and uncertainties include, but are not limited to, the following: the adequacy of Salarius’ capital resources; the ability and need for Salarius to raise additional capital to meet Salarius’ operational needs and to achieve its business objectives and strategy; Salarius’ ability to forecast future capital requirements and the use of cash, as well as the timing and accuracy thereof; Salarius’ ability to access funding remaining available under the CPRIT grant; future results of clinical trials and the impact of the results on Salarius; that the results of studies and clinical trials may not be predictive of future results of clinical trials; the adequacy of the intellectual property protection of Salarius; risks associated with drug development and the regulatory approval process; the competitive landscape and other risks associated with the industry; market conditions and regulatory or contractual restrictions that may affect Salarius’ ability to raise additional capital; the possibility of unforeseen expenses or other uses of Salarius cash; the risks associated with the COVID-19 epidemic; and other risks described in documents filed by Salarius with the Securities and Exchange Commission, including those discussed in Salarius ‘quarterly report on Form 10-Q for the quarter ended September 30, 2020 and in Salarius’ annual report on Form 10-K for the year ended December 31, 2019. The forward-looking statements contained in this press release speak only as of the date of this press release and are based on management’s assumptions and estimates as of that date. dated. Salarius disclaims any intention or obligation to update these forward-looking statements to reflect events or circumstances that exist after the date on which they were made.
Johanna Bennett (media)