Salarius Pharmaceuticals, Inc. (SLRX) stock rebounded in the after-hours on the news of dosing milestone achievement in its ongoing trial. On December 29, the company announced achieving doing milestone in its Phase ½ Sarcoma Trial.
During the regular session, the stock was in the red with a loss of 6.19% at its closing price of $0.4925. Following the news, the stock became bullish in the after-hours, reaching $0.5200 with a 5.58% gain.
Currently, SLRX’s 44.78 million outstanding shares trade at a market capitalization of $23.51 million.
Phase ½ Sarcoma Trial
The company is conducting Phase ½ Sarcoma clinical trial for the evaluation of seclidemstat. Moreover, scelidemstat is under evaluation as a treatment for Ewing sarcoma and other FET-rearranged sarcomas. As per the recent announcement, the trial’s Ewing sarcoma patient arm has reached its second lead-in safety cohort. Moreover, this cohort would be treating the patients with seclidemstat 900 mg BID in combination with topotecan and cyclophosphamide.
Seclidemstat is a reversible inhibitor of the LSD1 enzyme that is known to have an important role in the development as well as the progression of some cancers.
In addition, the company expects potential data readouts from the trial in 2022, as enrollment continues in all patient groups. Currently, patient enrollment is happening across the U.S. at 13 clinical trial sites.
SLRX’s Recent Developments
Recently, the company participated in two conferences in the month of December.
Firstly, SLRX’s CEO David Arthur presented at the Life Science Investor Forum which took place on December 16, 2021. Mr. Arthur shared an overview of the company’s achievements and upcoming milestones at the conference. Moreover, he also discussed the ongoing Phase ½ Sarcoma clinical trial of scelidemstat.
Secondly, Mr. Arthur along with other members of SLRX participated in the Benchmark Company Discovery One-On-One Investor Conference. Moreover, this conference was held virtually on Thursday, December 2, 2021. Mr. Arthur and the management team hosted one-on-one meetings with the registered investors at the conference.
SLRX’s Financials
On November 04, the company declared its financial results for the third quarter of 2021.
SLRX incurred a net loss per basic and diluted share of $0.08 (total net loss $3.7 million) in the third quarter of 2021. This compares to $0.10 (total net loss of $1.7 million) in the third quarter of 2020.
Moreover, the company ended the third quarter with a working capital of $33.6 million on September 30, 2021.
