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Salarius Pharmaceuticals, Inc. (SLRX) Stock on the Rise Today, Here’s What you Should Know

Salarius Pharmaceuticals, Inc. (SLRX), a clinical stage biopharmaceutical company is focused on the development of oncology related therapeutics for cancer patients. One of the principal candidate, Seclidemstat, is being investigated in Phase 1/2 clinical trials for the treatment of sarcomas, solid tumors which include breast, prostate and ovarian cancers. Seclidemstat has received several designations from FDA including Orphan Drug Designation, Fast Track Designation, and Rare Pediatric Disease Designation for the treatment of Ewing Sarcoma.

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The price of SLRX stock ended the regular trading session of December 15, 2021 with a decrease of 2.69% at $0.53. At last check in the current trading session, the stock showed rise by 5.4%.

Events and Happenings

On December 15, 2021, SLRX reported that David Arthur, CEO of SLRX, presented the company at the Life Science Virtual Investor Forum on December 16, 2021. On November 29, 2021, SLRX informed that the Company’s management participated in the all-virtual Benchmark Company Discovery One-on-One Investor Conference on December 2, 2021.

Key Financials

On November 04, 2021, SLRX announced the financial results for the third quarter 2021 ended September 30, 2021. Some of the important financial highlights are as follows

Net Loss per Share

For the third quarter 2021, the net loss announced by the company was $3.7 million, or $0.08 per basic and diluted share, as opposed to the net loss of $1.7 million, or $0.10 per basic and diluted share for the Q3 2020. 

Total Current Assets

Total current assets reported by the company for third quarter 2021 were $35.18 million against the total current assets of $13.9 million for the same period of prior year.

On October 07, 2021, SLRX reported about the research results discussed at AACR-NCI-EORTC 2021 Virtual International Conference on Molecular Targets and Cancer Therapeutics. The conference held from October 7-10, 2021 and the findings showed SP-2577 potential activity in sarcomas was a result of its differentiated mechanism of action. On October 05, 2021, SLRX informed that the CEO of SLRX presented the company at BioFuture Conference 2021, virtually held on October 5-6, 2021.

On September 28, 2021, SLRX reported that it received a payment of $2.7 million in lieu of its current agreement with the Cancer Prevention and Research Institute of Texas (CPRIT). The grant was awarded to support the operations of the company and development of its potential lead drug, seclidemstat.

Conclusion

From the past month, the company observed a 28% decline in the stock price mainly due to uncertain reasons. But the today it is showing a positive trend The company has remained active in the recent past in terms of taking scientific community and investors in confidence which will be a positive sign for investment.

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