Salarius Announces Pricing of $20 Million Underwritten Public Offering of Common Stock
March 04 2021 - 8:30AM
Salarius Pharmaceuticals, Inc. (Nasdaq: SLRX), a clinical-stage
biopharmaceutical company developing potential new medicines for
patients with pediatric cancers, solid tumors, and other cancers,
today announced the pricing of an underwritten public offering of
14,614,541 shares of its common stock at a price to the public of
$1.3685 per share. The gross proceeds to Salarius from the
offering, before deducting the underwriting discounts and
commissions and other offering expenses, are expected to be
approximately $20 million. The closing of the offering is expected
to take place on or about March 8, 2021, 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 2,192,181 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, 640 Fifth Avenue, New York, NY 10019 or by
email at prospectus@ladenburg.com.
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 biopharmaceutical company developing cancer
therapies for patients in need of new treatment options. Salarius’
lead candidate, seclidemstat, is being studied as a potential
treatment for pediatric cancers, solid tumors and other cancers
with limited treatment options. Seclidemstat is currently in a
Phase 1/2 clinical trial for relapsed/refractory Ewing sarcoma, for
which it has received Fast Track Designation, Orphan Drug
Designation and Rare Pediatric Disease Designation from the U.S.
Food and Drug Administration. Salarius is also developing
seclidemstat for several cancers with high unmet medical need, with
a second clinical study in advanced solid tumors, including
prostate, breast, and ovarian cancers. Salarius has received
financial support from the National Pediatric Cancer Foundation to
advance the Ewing sarcoma clinical program and was also the
recipient of a Product Development Award from the Cancer Prevention
and Research Institute of Texas (CPRIT). For more information,
please visit salariuspharma.com.
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 completion 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
Tiberend Strategic Advisors, Inc. Maureen McEnroe, CFA/Miriam
Miller (investors)(212) 375-2664 /
2694mmcenroe@tiberend.commmiller@tiberend.com
Johanna Bennett (media)(212) 375-2686 jbennett@tiberend.com
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