Salarius Announces Pricing of $5.3 Million Underwritten Public Offering
July 30 2020 - 9:23AM
Salarius Pharmaceuticals, Inc. (Nasdaq: SLRX), a clinical-stage
oncology company targeting cancers caused by dysregulated gene
expression, today announced the pricing of an underwritten public
offering of 4,461,209 shares of its common stock at a price to the
public of $1.20 per share. All of the shares are being sold by
Salarius. The gross proceeds to Salarius from the offering, before
deducting the underwriting discounts and commissions and other
offering expenses, are expected to be approximately $5.3 million.
The closing of the offering is expected to take place on or about
August 3, 2020, subject to the satisfaction or waiver of customary
closing conditions. In addition, Salarius has granted the
underwriter a 45-day option to purchase up to 669,181
additional shares of common stock at the public offering price per
share, less underwriting discounts and commissions.
Ladenburg Thalmann & Co. Inc. is acting
as sole book-running manager in connection with the public
offering.
The securities were offered pursuant to a
registration statement on
Form S-3 (File No. 333-231010), which was
declared effective by the United States Securities and Exchange
Commission (the “SEC”) on May 17, 2019. When available,
copies of the final prospectus supplement and accompanying
prospectus relating to the offering can be obtained at the SEC’s
website at www.sec.gov or from Ladenburg Thalmann & Co.
Inc., Attn: Prospectus Department, 277 Park Avenue, 26th Floor, New
York, New York 10172, by calling (212) 409-2000.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Salarius Pharmaceuticals,
Inc.Salarius Pharmaceuticals, Inc. is a clinical-stage
oncology company targeting cancers caused by dysregulated gene
expression, or epigenetic causes of cancers, and is developing
treatments for patients that need them the most. Epigenetics
refers to the regulatory system that affects gene expression.
Salarius’ lead candidate, seclidemstat, is currently in clinical
development for treating Ewing sarcoma, for which it has Fast Track
Designation, Orphan Drug Designation and Rare Pediatric Disease
Designation by the U.S. Food and Drug Administration.
Salarius is also developing seclidemstat for a number of cancers,
with a second Phase 1/2 clinical study in advanced solid tumors,
including prostate, breast and ovarian cancers.
Forward-Looking Statements
This press release contains forward-looking
statements within the Private Securities Litigation Reform Act of
1995, including statements that relate to the offering, the
expected closing of the offering, and other information that is not
historical information. Actual results or developments may differ
materially from those projected or implied in these forward-looking
statements. Factors that may cause such a difference include risks
and uncertainties related to completion of the public offering on
the anticipated terms or at all, market conditions, the impact of
the COVID-19 pandemic, and the satisfaction of customary closing
conditions related to the public offering. More information about
the risks and uncertainties faced by Salarius is contained in the
sections captioned “Risk Factors” in the preliminary prospectus
supplement and the accompanying prospectus related to the public
offering filed with the SEC, including the documents incorporated
by reference therein. Salarius disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise.
Contact
Investor RelationsTiberend Strategic Advisors,
Inc. Maureen McEnroe, CFA/Miriam Miller(212) 375-2664 /
2694mmcenroe@tiberend.commmiller@tiberend.com
Media RelationsTiberend Strategic Advisors,
Inc.Johanna Bennett(212) 375-2686 jbennett@tiberend.com
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