Business Context and Reporting Period
This Form 8-K is filed by Salarius Pharmaceuticals, Inc. (not Decoy Therapeutics Inc.) on August 27, 2025. The report addresses regulatory compliance issues with The Nasdaq Stock Market regarding listing standards.
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 corporate governance and listing status.
Material Changes and Events
- Equity Standard Extension: The Nasdaq Hearings Panel granted an extension to regain compliance with Listing Rule 5550(b)(1) (Equity Standard) until October 20, 2025.
- Minimum Bid Price Action: The company effected a 1-for-15 reverse stock split on August 15, 2025, to address non-compliance with the Minimum Bid Price Requirement (Rule 5550(a)(2)).
- Compliance Timeline: The company expects to regain compliance with the Minimum Bid Price Requirement by the deadline of August 29, 2025.
- Historical Context: Non-compliance with the Equity Standard was identified in March 2025 based on the 2024 Form 10-K. Non-compliance with the Minimum Bid Price was identified in April 2025 due to a closing bid price below $1.00 for 30 consecutive days.
Guidance, Outlook, and Risks
The filing contains forward-looking statements regarding the company's ability to meet the August 29, 2025, and October 20, 2025, compliance deadlines. The extension granted by the Hearings Panel is contingent on the company achieving scheduled milestones and notifying Nasdaq of such achievements. Risks include general market conditions and the potential for delisting if compliance is not maintained.
Investor Verification Checklist
- Verify the post-split trading price of Salarius common stock (SLRX) to confirm compliance with the $1.00 minimum bid price by August 29, 2025.
- Monitor subsequent filings to confirm the company meets the Equity Standard milestones by October 20, 2025.
- Review the company's most recent Form 10-K and 10-Q for detailed financial health, as this 8-K does not provide financial metrics.
- Confirm the effective date and ratio of the 1-for-15 reverse stock split in trading records.