The company’s move removes the last major hurdle to completing its merger with Decoy Therapeutics, a deal aimed at advancing antiviral and cancer drug programs through Decoy’s IMP3ACT platform.
Salarius Pharmaceuticals’ stock rose 5% after-hours on Monday after announcing it had regained full compliance with all Nasdaq listing requirements, removing the main hurdle to its planned merger with Decoy Therapeutics.
The company said Nasdaq informed Salarius on Oct. 10 that it met the equity standard requirement, following an earlier notice in September that it had regained compliance with the minimum bid price rule.
Nasdaq notified the company that it will remain under a one-year Mandatory Panel Monitor period through October 2026, during which any violation of equity standards could lead to a delisting notice and hearing process.
The merger with Decoy Therapeutics, first announced in January and amended in September, will see Decoy merge into a unit of Salarius, with the combined company operating under the name Decoy Therapeutics. The deal is intended to accelerate the development of peptide conjugate therapeutics through Decoy’s IMP3ACT platform and integrate Salarius’ SP-3164 degrader program.
Once complete, the combined company will be led by Decoy’s co-founders, Frederick Pierce and Barbara Hibner, alongside key executives from both firms. Over the next year, Decoy plans to push its lead antiviral drug for coronaviruses closer to FDA review, while also working on new treatments for flu, COVID-19, RSV, and certain gastrointestinal cancers.
Salarius, meanwhile, is supporting a clinical study at MD Anderson Cancer Center that’s testing its main drug, seclidemstat, as a possible treatment for serious blood cancers with few existing options.
On Stocktwits, retail sentiment for Salarius was ‘bullish’ amid a 5,000% surge in 24-hour message volume.
One user said they had added to their Salarius position, citing the company’s low float, full Nasdaq compliance, and solid cash runway.
Another user noted they felt confident about the stock’s setup, pointing to its low price, small float, and high cost-to-borrow rate, adding that any positive news could send it soaring.
Salarius’ stock has declined 86% so far in 2025.
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