SLRX stock touches 52-week low at $1.24 amid market challenges By Investing.com

In a turbulent market environment, Salarius Pharmaceuticals, Inc. (SLRX) shares hit a new 52-week low of $1.24.The micro-cap company, with a market cap of just $1.82 million, is navigating a rough patch.Keeping 4.09 and more cash on its balance sheet , than the current debt ratio, the company has seen its stock price retreat significantly from its 52-week high of $7.20 has been, reflecting a 1-year change in stock performance of -74.29%. This decline highlights the volatility and challenging conditions in the biopharma sector as companies like Salarius continue to seek stability and growth amid a landscape of regulatory hurdles and competitive pressures. : According to InvestingPro: analysis shows the stock to be undervalued at current levels, with 12 additional key insights available to subscribers.

In other recent news, Salarius Pharmaceuticals, Inc. announced key developments, including financial moves and clinical trial updates. , Salarius also registered new shares of common stock valued at up to $335,921. Ladenburg Thalmann & Co. Inc. pursuant to an existing agreement, and has initiated two new stock offerings with the goal of raising up to $1,146,894.

In terms of clinical trials, Salarius has decided to stop a phase 1/2 clinical trial of seclidemstat while looking for strategic alternatives. However, a setback occurred when a patient experienced a grade 4 adverse event in the clinical trial occurred, resulting in a partial clinical suspension by the US Food and Drug Administration.However, the company will continue to support Texas to a separate clinical trial being conducted by the university’s Dr. Anderson Cancer Center.

Finally, to meet Nasdaq’s minimum price requirement, Salarius announced a 1-for-8 reverse stock split.Equiniti Trust Company LLC has been appointed as the exchange and transfer agent for the reverse split process the company’s strategic maneuvers in response to both financial and clinical trial challenges.

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