Salarius Pharmaceuticals Files 10-K/A Amendment

TL;DR

<b>Salarius Pharmaceuticals, Inc. has filed an amendment to its 2023 annual report, providing updated information for its fiscal year ending December 31, 2023.</b>

AI Summary

Salarius Pharmaceuticals, Inc. (DCOY) filed a Amended Annual Report (10-K/A) with the SEC on April 22, 2024. Salarius Pharmaceuticals, Inc. filed an amendment (10-K/A) to its annual report for the fiscal year ended December 31, 2023. The company's principal executive offices are located at 2450 Holcombe Blvd., Suite X, Houston, TX 77021. Salarius Pharmaceuticals' common stock is traded on The Nasdaq Stock Market LLC under the symbol SLRX. The company was formerly known as Flex Pharma, Inc., with a name change effective July 30, 2014. Salarius Pharmaceuticals is classified as a non-accelerated filer and a smaller reporting company.

Why It Matters

For investors and stakeholders tracking Salarius Pharmaceuticals, Inc., this filing contains several important signals. This amendment indicates that the company is providing updated financial and operational information for the fiscal year 2023, which could contain material changes from previous filings. As a smaller reporting company and non-accelerated filer, Salarius Pharmaceuticals may have different disclosure requirements and flexibility compared to larger filers, impacting how investors interpret the information.

Risk Assessment

Risk Level: low — Salarius Pharmaceuticals, Inc. shows low risk based on this filing. The filing is an amendment to a 10-K, suggesting updates to previously reported information rather than new material events, thus posing a low immediate risk.

Analyst Insight

Investors should review the specific changes and disclosures within this 10-K/A filing to understand any material updates to Salarius Pharmaceuticals' financial position or business operations.

Key Numbers

• 2023-12-31 — Fiscal Year End (Report period)
• 2024-04-22 — Filing Date (Date of submission)
• 001-36812 — SEC File Number (Commission File Number)
• 46-5087339 — IRS Number (Registrant's IRS Employer Identification No.)

Key Players & Entities

• Salarius Pharmaceuticals, Inc. (company) — Registrant
• 2023 (date) — Fiscal year ended
• December 31 (date) — Fiscal year ended
• 2450 Holcombe Blvd., Suite X, Houston, TX 77021 (address) — Principal executive offices
• SLRX (ticker) — Trading Symbol
• The Nasdaq Stock Market LLC (company) — Exchange
• Flex Pharma, Inc. (company) — Former company name
• 20140730 (date) — Date of name change

FAQ

Risk Factors

• Reporting Requirements [low — regulatory]: The company is subject to ongoing reporting requirements under the Securities Exchange Act of 1934, including filing annual reports (10-K) and amendments.

Industry Context

Salarius Pharmaceuticals operates in the pharmaceutical preparations industry, focusing on the development of therapies.

Regulatory Implications

The company is required to comply with SEC regulations for public companies, including timely filing of financial reports.

What Investors Should Do

1. Review the full 10-K/A filing for specific details on amendments and updated financial information.
2. Monitor future SEC filings for ongoing developments and financial performance of Salarius Pharmaceuticals.
3. Analyze the company's market position and competitive landscape within the pharmaceutical sector.

Key Dates

• 2023-12-31: Fiscal Year End — Defines the period for the annual report.
• 2024-04-22: Filing Date — Date the 10-K/A amendment was filed with the SEC.

Year-Over-Year Comparison

This filing is an amendment (10-K/A) to the previous annual report, indicating updates rather than a new filing for the period.

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 SLRX The Nasdaq Stock Market LLC Secu
• $125 million — py company and for which he raised over $125 million from leading venture firms, where he se
• $160 million — erapeutics, for which company he raised $160 million through venture capital and Federal and

Filing Documents

• flks-20231231.htm (10-K/A) — 418KB
• slrx20231231ex-313for10xka.htm (EX-31.3) — 5KB
• slrx12312023-314expfocerti.htm (EX-31.4) — 5KB
• 0001615219-24-000038.txt (&nbsp;) — 664KB
• flks-20231231.xsd (EX-101.SCH) — 2KB
• flks-20231231_lab.xml (EX-101.LAB) — 34KB
• flks-20231231_pre.xml (EX-101.PRE) — 20KB
• flks-20231231_htm.xml (XML) — 5KB

Directors, Executive Officers, and Corporate Governance 1

Item 10. Directors, Executive Officers, and Corporate Governance 1

Executive Compensation 9

Item 11. Executive Compensation 9

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 19

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 19

Certain Relationships and Related Transactions, and Director Independence 20

Item 13. Certain Relationships and Related Transactions, and Director Independence 20

Principal Accounting Fees and Services 22

Item 14. Principal Accounting Fees and Services 22 Part IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 23 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This report contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Exchange Act, which are subject to the "safe harbor" created by those sections. Forward-looking statements are based on our management's beliefs and assumptions and on information currently available to our management. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," "project," "predict," "propose," "intend," "continue," "potential," "possible," "foreseeable," "likely," "unforeseen" and similar expressions intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance, time frames or achievements to be materially different from any future results, performance, time frames or achievements expressed or implied by the forward-looking statements. We discuss many of these risks, uncertainties and other factors in greater detail under the heading "Risk Factors" in Part I, Item 1A of our 2023 Annual Report on Form 10-K, as filed with the SEC on March 22, 2024. These forward-looking statements represent our estimates and assumptions only as of the date of this filing. You should read this report completely and with the understanding that our actual future results may be materially different from what we expect. We hereby qualify our forward-looking statements by our cautionary statements. Except as required by law, we assume no obligation to update our forward-looking statements publicly, or to update the reasons that actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance Directors Our Board consists of seven (7) directors which are divided into three classes: Class I, Class II, and Class III. Each class has a three-year term: Our Class I directors are Arnold C. Hanish and William K. McVicar and their terms will expire at the annual meeting of stockholders to be held in 2025. Our Class II directors are David J. Arthur, Bruce J. McCreedy, and Jonathan Lieber and their terms will expire at the annual meeting of stockholders to be held in 2026. Our Class III directors are Tess Burleson and Paul Lammers and their terms will expire at the annual meeting of stockholders to be held in 2024. Any additional directorships resulting from an increase in the number of directors will be distributed among the three classes so that, as nearly as possible, each class will consist of one-third of the directors. The division of our Board into three classes with staggered three-year terms may delay or prevent a change of our management or a change in control of the Company. Our directors may be removed for cause by the affirmative vote of the holders of at least two-thirds of our voting stock of the capital stock issued and outstanding then entitled to vote at an election of directors. The following table sets forth the name, age and committee appointments of each of our current directors as of April 12, 2024: Name Age Position David J. Arthur 61 President, Chief Executive Officer and Director William K. McVicar 66 Chair Tess Burleson(1)(2)(3) 57 Director Arnold C. Hanish(1)(3) 76 Director Paul Lammers(3) 66 Director Jonathan Lieber(1)(2) 54 Director Bruce J. McCreedy (2) 64 Director (1) Member of the Audit Committee. (2) Member of the Nominating and Corporate Governance Committee. (3) Member of the Compensation Committee. The names of the nominees and certain biographical information about each current director, including a description of his or her business exp

: Gender Identity

Part I: Gender Identity Directors 1 6 - -

: Demographic Background

Part II: Demographic Background African American or Black - - - - Alaskan Native or Native American - - - - Asian - - - - Hispanic or Latinx - - - - Native Hawaiian or Pacific Islander - - - - White - 6 - - Two or More Races or Ethnicities 1 - - - LGBTQ+ 0 Did Not Disclose Demographic Background 0 Executive Officers The following table shows information about our executive officers as of April 12, 2024: Name Age Position David J. Arthur 61 President, Chief Executive Officer and Director Mark J. Rosenblum 70 Executive Vice President of Finance and Chief Financial Officer The following presents biographical information for each of our executive officers in the table above, other than for Mr. Arthur, whose information is presented above. Mark J. Rosenblum Mr. Rosenblum has served as our Executive Vice President Finance and Chief Financial Officer since September 2019. Prior to September 2019, Mr. Rosenblum served as a financial consultant to us since February 2019. Prior to joining us, Mr. Rosenblum served as chairman, chief executive officer and a director of ActiveCare, Inc. (Nasdaq: 4 ACAR), a healthcare company, from December 2017 to March 2019, which was sold to Biotelemetry, Inc (now Royal Philips (NYSE: PHG). Mr. Rosenblum worked as a financial consultant for various companies from 2014 to 2017. Prior to that, Mr. Rosenblum served as the chief financial officer of Advaxis, Inc. (Nasdaq: ADXS), a biotechnology company, from January 2010 to April 2014. From 1985 through 2003, Mr. Rosenblum was employed by Wellman, Inc., a global public chemical manufacturer, which was subsequently acquired by DAK Americas, serving in various capacities including chief accounting officer. Mr. Rosenblum holds both a Masters in Accountancy and a B.S. degree in Accounting from the University of South Carolina. Mr. Rosenblum began his career in 1977 with Haskins & Sells, CPA (currently known as Deloitte), was a licensed Certified Public Accountant for over

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