HOUSTON, TX – Salarius Prescription drugs, Inc. (NASDAQ:SLRX), an organization specializing in pharmaceutical preparations, has introduced December 20, 2024, because the date for its 2024 Annual Assembly of Stockholders. The assembly particulars will probably be included within the proxy assertion to be filed with the U.S. Securities and Alternate Fee (SEC) forward of the occasion.
Shareholders on document as of October 25, 2024, will probably be eligible to vote on the Annual Assembly or any adjournment thereof. The announcement, made at this time, additionally informs shareholders of the brand new deadlines for proposal submissions to be introduced on the assembly.
In compliance with SEC guidelines, proposals for inclusion within the proxy supplies should be obtained by the Firm’s Secretary by the shut of enterprise on October 7, 2024. Proposals should adhere to SEC necessities and the Firm’s Bylaws to be eligible for inclusion.
Moreover, any stockholder proposals or director nominations not supposed for inclusion within the proxy supplies should even be obtained by October 7, 2024. These submissions should adjust to the advance discover procedures outlined within the Firm’s Bylaws.
For stockholders aspiring to solicit proxies in assist of director nominees apart from the Firm’s nominees, they have to adhere to the common proxy guidelines and supply discover by October 21, 2024.
In different current information, Salarius Prescription drugs, Inc. has registered extra shares of frequent inventory price as much as $335,921, below an present settlement with Ladenburg Thalmann & Co. Inc. The corporate has additionally registered two new inventory choices with the intention to lift as much as $1,146,894. In a big growth, Salarius determined to discontinue its Section 1/2 medical trial of seclidemstat for Ewing sarcoma, as a part of a method to preserve money whereas searching for strategic alternate options.
Moreover, Salarius confronted a critical setback when a affected person in a medical trial skilled a grade 4 adversarial occasion, resulting in a partial medical maintain by the U.S. Meals and Drug Administration. Regardless of this, the corporate will proceed to assist a separate medical trial carried out by The College of Texas MD Anderson Most cancers Heart.
To fulfill Nasdaq’s minimal bid value requirement, Salarius introduced a 1-for-8 reverse inventory cut up, lowering the variety of issued and excellent frequent inventory shares. Equiniti Belief Firm, LLC, has been appointed because the alternate agent and switch agent for the reverse cut up course of.
InvestingPro Insights
As Salarius Prescription drugs, Inc. (NASDAQ:SLRX) prepares for its 2024 Annual Assembly of Stockholders, buyers ought to concentrate on a number of key monetary metrics and tendencies. In keeping with InvestingPro knowledge, SLRX’s market capitalization stands at a modest $2.09 million, reflecting its standing as a small-cap pharmaceutical firm. The inventory is at the moment buying and selling close to its 52-week low, with a big value decline of 74.68% over the previous yr.
InvestingPro Suggestions spotlight that SLRX holds extra cash than debt on its steadiness sheet, which may very well be essential for a pharmaceutical firm investing in analysis and growth. Nonetheless, the corporate isn’t worthwhile over the past twelve months, with analysts not anticipating profitability this yr. This aligns with the corporate’s unfavorable working revenue of -$6.74 million for the final twelve months as of Q2 2024.
For buyers contemplating SLRX, it is price noting that the inventory usually trades with excessive value volatility, which is clear in its current efficiency. The 1-week and 1-month value complete returns each stand at -15.79%, indicating current downward strain on the inventory.
These insights present context to the upcoming annual assembly and should affect shareholder choices. InvestingPro provides 15 extra ideas for SLRX, offering a extra complete evaluation for these excited by deeper analysis on this pharmaceutical inventory.
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