Salarius Provides Update On Strategic Review Process And Plans To Support Ongoing Seclidemstat Clinical Trials By Further Reducing Expenses, Implementing A Series Of Cost-Savings Measures Designed To Extend Expected Cash Runway Into The First Half Of 2025
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Salarius Pharmaceuticals, Inc. (NASDAQ:SLRX) is implementing cost-saving measures to extend its cash runway into the first half of 2025, supporting ongoing seclidemstat clinical trials for hematologic cancers and Ewing sarcoma. The company has seen encouraging results, with a 50% objective response rate in hematologic cancer trials and a 60% rate in Ewing sarcoma patients. CEO David Arthur transitions to a part-time consultant role to reduce expenses. Salarius continues to explore strategic alternatives with Canaccord Genuity, LLC to maximize shareholder value.
February 22, 2024 | 1:05 pm
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Salarius Pharmaceuticals is extending its cash runway into 2025 through cost-saving measures, while continuing to support seclidemstat clinical trials with promising results. The company is also exploring strategic alternatives to maximize shareholder value.
The implementation of cost-saving measures and the extension of the cash runway into the first half of 2025 are positive steps for Salarius Pharmaceuticals, indicating a strategic approach to financial management and a commitment to ongoing clinical trials. The promising results from seclidemstat clinical trials in hematologic cancers and Ewing sarcoma, combined with the exploration of strategic alternatives, could potentially enhance shareholder value and generate investor interest. The transition of the CEO to a part-time consultant role is a significant move to reduce expenses, further supporting the company's financial stability.
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