Salarius Pharmaceuticals, Inc. (SLRX) has experienced a gain of 3.85% in the premarket today on 3rd September 2021. SLRX saw a gain of 2.97% to reach $1.04 at the end of the last trading session.
What’s going on?
Salarius Pharmaceuticals, Inc (SLRX) is a biotech company that is developing medicines to treat cancer patients. There is no particular news in today’s date for SLRX stock. However, there is some recent news regarding the stock. Let’s dig deep into it.
SLRX announces second quarter 2021 financial results
On August 5, 2021, SLRX announced the financial results of the second quarter of 2021 that ended on June 30, 2021. Salarius has continued to make great progress in the second quarter and recent weeks, with significant advancement in clinical programs leading to several data readouts. The quarter was concluded with $33.1 million in cash, which is significant.
SLRX reported a $0.07 basic and diluted net loss per share from continuing operations in the second quarter of 2021. By the conclusion of the second quarter, the company had $36.8 million in total working capital.
In the most recent quarter, the firm spent $3.2 million in net cash on operational activities. As compared to the same quarter of 2020, net cash for operations increased to $0.7 million.
Fox Chase Cancer Center
SLRX stated on 13 July 2021 that Fox Chase Cancer Center in Philadelphia, PA, has been added as an active study area for the dose-expansion stage of SLRX’s ongoing clinical research assessing seclidemstat in patients with refractory Ewing sarcoma and advanced FET-rearranged sarcomas.
With the inclusion of Fox Chase, the open-label study evaluating seclidemstat at the recommended Phase 2 dosage now includes nine active sites (RP2D). Patient recruitment is already ongoing at all locations, and the clinical trial’s initial dose-expansion patients have been dosed.
Announcement of New Clinical Trial to Study Seclidemstat in Hematologic Cancers by SLRX
SLRX announced the start of a clinical trial to test seclidemstat, a new lysine-specific demethylase 1 (LSD1) inhibitor, as a possible hematologic cancer therapy on 15 June 2021. Dr. Guillermo Montalban-Bravo of The University of Texas MD Anderson Cancer Center’s Leukemia Department will lead this investigator-initiated Phase 1/2 study.
The trial will be an open-label, dosage-finding, dose-expansion research to establish the maximum tolerated dose (MTD) of seclidemstat in combination with azacytidine as a therapy for Myelodysplastic Syndromes (MDS) and Chronic Myelomonocytic Leukemia (CMML). MDS and CMML are blood malignancies that can lead to Acute Myeloid Leukemia, leukemia that is fatal (AML).
The study was started due to convincing preclinical evidence showing that seclidemstat had an anti-proliferative effect in hematologic malignancies and synergy with azacytidine when taken together.
Conclusion:
In terms of economic perception, things are looking up for SLRX stock. Analysts predict that this stock will increase by more than 400% in the next 12 months. Before making any choice, investors must conduct thorough fundamental and technical research.
