Salarius Pharmaceuticals, Inc. (SLRX), a clinical-stage biotechnology company, has seen a decrease of 0.91% in the premarket trading session. Consequently, SLRX stock is changing hands at $1.09 at the time of this writing. Apparently, there seems to be no obvious reason for this decrease in SLRX stock. On Friday, SLRX stock closed the day after surging 7.84% in the regular trading session. Let’s have a discussion about some recent developments related to SLRX stock.
Q2 2021 financial results
On the 5th of August, SLRX reported the quarterly results for the second quarter of the fiscal year 2021, which ended on 30th June 2021. According to the details, the company had cash and cash equivalents of $33.07 million on the 30th of June. The total assets the company had on the 30th of June were $47.40 million. The total liabilities the company had on the 30th of June were $1.55 million. The revenue company generated during the quarter was $0.57 million. During the equivalent period of 2020, the revenue stood at $1.24 million. The total operating expenses during the quarter stood at $3.68 million. During the equivalent period of 2020, the total operating expenses were $3.14 million. The company suffered a net loss of $3.07 million during the quarter. During the equivalent period of 2020, the net loss was $1.78 million. The net loss per basic and diluted share stood at $0.07. During the equivalent period of 2020, the net loss per basic and diluted share was $0.13. Commenting on the results, David Arthur, Chief Executive Officer of Salarius Pharmaceuticals said that he is pleased with how Salarius is positioned for the second half of 2021 and beyond.
SLRX added Fox Chase Center as trial site
On 13th July, SLRX announced to add Fox Chase Cancer Center, Philadelphia, as trial site for a dose-expansion stage of clinical-trial. The ongoing clinical-trial is being conducted to evaluate “seclidemstat”, the company’s lead drug candidate. The evaluation was regarding seclidemstat in patients with relapsed or refractory Ewing sarcoma and advanced FET-rearranged sarcomas. The addition of Fox expanded the number of active site participating in the open lab trial to nine. The trail is intended to assess seclidemstat at the recommended Phase 2 dose (RP2D), according to the company. Seclidemstat is an oral, reversible inhibitor of lysine-specific histone demethylase 1 (LSD1). LSD1 is an enzyme which plays an important role in the development of cancer. David Arthur expressed his pleasure over the development. He said that to work with Fox Chase Center affirms the potential of seclidemstat to have a meaningful impact.
What future holds in store for SLRX?
Recent past had been a positive time for SLRX stock, as it has grown by 26% during the previous month alone. During the last one year, the stock has increased on an average by 33%. According to the analysts, the EPS of SLRX stock would increase by 76% during the current fiscal. All of these indicators point toward an optimistic future for SLRX stock.
