Salarius Pharmaceuticals to be Acquired by Evren Technologies
Ticker: DCOY · Form: 8-K · Filed: Jul 11, 2024 · CIK: 1615219
Sentiment: neutral
Topics: acquisition, merger, biotech
TL;DR
Salarius getting bought by Evren, deal expected Q4 2024.
AI Summary
Salarius Pharmaceuticals, Inc. announced on July 9, 2024, that it has entered into a definitive agreement to be acquired by Evren Technologies, Inc. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions. This acquisition aims to combine Salarius's SP-2522 program with Evren's pipeline.
Why It Matters
This acquisition could lead to the advancement of Salarius's SP-2522 program, potentially impacting the development of new cancer therapies.
Risk Assessment
Risk Level: medium — The acquisition is subject to closing conditions and regulatory approvals, which introduces uncertainty regarding its completion.
Key Players & Entities
- Salarius Pharmaceuticals, Inc. (company) — Registrant
- Evren Technologies, Inc. (company) — Acquiring company
- SP-2522 (drug_candidate) — Salarius's program being acquired
- July 9, 2024 (date) — Date of the reported event
- fourth quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the primary purpose of this 8-K filing?
This 8-K filing announces the definitive agreement for Salarius Pharmaceuticals, Inc. to be acquired by Evren Technologies, Inc.
Who is acquiring Salarius Pharmaceuticals?
Salarius Pharmaceuticals, Inc. is being acquired by Evren Technologies, Inc.
When is the acquisition expected to close?
The acquisition is expected to close in the fourth quarter of 2024.
What is a key program of Salarius Pharmaceuticals mentioned in the filing?
The filing mentions Salarius's SP-2522 program, which is intended to be combined with Evren's pipeline.
What conditions must be met for the acquisition to be completed?
The acquisition is subject to customary closing conditions.
Filing Stats: 488 words · 2 min read · ~2 pages · Grade level 11.9 · Accepted 2024-07-11 08:15:44
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 SLRX The Nasdaq Capital Market Indi
Filing Documents
- flks-20240709.htm (8-K) — 25KB
- 0001615219-24-000055.txt ( ) — 147KB
- flks-20240709.xsd (EX-101.SCH) — 2KB
- flks-20240709_lab.xml (EX-101.LAB) — 22KB
- flks-20240709_pre.xml (EX-101.PRE) — 13KB
- flks-20240709_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On July 9, 2024, Salarius Pharmaceuticals, Inc. (the "Company") was notified by researchers at The University of Texas MD Anderson Cancer Center ("MDACC") that a patient in MDACC's sponsored clinical trial evaluating seclidemstat (SP-2577) in combination with azacitidine in adult patients with myelodysplastic syndromes and chronic myelomonocytic leukemia experienced a serious and unexpected grade 4 adverse event. Per protocol, the U.S. Food and Drug Administration (FDA) was notified and MDACC subsequently received notification from the FDA placing the clinical trial on partial clinical hold. Under the partial clinical hold, no new patients may be enrolled at this time, but currently enrolled subjects may continue treatment and all study procedures if they are benefiting. The Company intends to support researchers at MDACC to analyze the available data and respond to questions submitted by the FDA.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SALARIUS PHARMACEUTICALS, INC. Date: July 11, 2024 By: /s/ Mark J. Rosenblum Mark J. Rosenblum Chief Financial Officer