(RTTNews) - Salarius Pharmaceuticals, Inc. (SLRX), a clinical-stage biopharmaceutical company, Thursday announced that it will implement a 1-for-15 reverse stock split effective August 15.
Trading on a split-adjusted basis will begin August 18, 2025, under a new CUSIP number.
The move aims to restore compliance with Nasdaq's $1.00 minimum bid price requirement. Shareholders approved the split at a July 8, 2025 meeting, authorizing the board to select the ratio.
The adjustment will reduce outstanding shares from about 7.6 million to approximately 509,000, with proportional changes to outstanding options, warrants, and reserved shares.
Ownership percentages will remain unchanged, though fractional shares will be cashed out based on the August 15 closing price.
SLRX is currently trading at $0.46, down $0.02 or 4.28 percent on the Nasdaq.
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