Business Context and Reporting Period
This Form 8-K Current Report is filed by Salarius Pharmaceuticals, Inc. (not Decoy Therapeutics Inc.) on August 15, 2025. The report details a material corporate action regarding the company's capital structure.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on a corporate governance event.
Material Changes
- Reverse Stock Split: The Company effected a 1-for-15 reverse stock split of its issued and outstanding common stock, effective at 5:00 p.m. Eastern Time on August 15, 2025.
- Trading Adjustments: Beginning August 18, 2025, the Common Stock trades on the Nasdaq Capital Market on a split-adjusted basis under a new CUSIP number (79400X503).
- Fractional Shares: No fractional shares were issued; stockholders entitled to fractional shares received cash in lieu thereof based on the closing price on the Effective Date.
- Ownership Impact: The split does not alter any stockholder's ownership percentage (except for cash-in-lieu adjustments) and does not reduce the number of authorized shares.
- Derivatives Adjustment: All outstanding options, warrants, and shares reserved under the 2015 Employee Stock Purchase Plan were adjusted in accordance with their terms.
Guidance, Outlook, and Risks
The filing includes standard forward-looking statements regarding the reverse split and its timing. Management directs investors to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, for a detailed discussion of risks and uncertainties, including general market conditions.
Investor Verification Checklist
- Verify the new CUSIP number (79400X503) for trading purposes starting August 18, 2025.
- Confirm the cash payment received for any fractional shares, if applicable.
- Review the adjustment terms for any held options or warrants to ensure proper conversion ratios.
- Check the Company's recent 10-K and 10-Q filings for updated financial health and liquidity status, as this 8-K does not provide them.