8-K: Salarius Pharmaceuticals Faces Nasdaq Delisting Threat

Salarius Pharmaceuticals, Inc. received a delisting notice from Nasdaq due to its common stock falling below the minimum bid price requirement, with an appeal planned.

Summary

• Salarius Pharmaceuticals, Inc. (the Company) received a notice from Nasdaq on December 31, 2025, indicating non-compliance with Nasdaq listing rule 5550(a)(2).
• The non-compliance stems from the Company's common stock closing bid price being below the minimum $1.00 per share requirement for 30 consecutive business days.
• Due to a prior reverse stock split within the last year and being subject to a Mandatory Panel Monitor, the Company is not eligible for the standard 180-day compliance period.
• Nasdaq has determined that the Company's securities will be delisted and suspended from The Nasdaq Capital Market at the opening of business on January 9, 2026, unless an appeal is filed.
• The Company intends to appeal the delisting determination to a Nasdaq Hearings Panel by January 7, 2026, which will stay the suspension and delisting process.
• There are no assurances that the appeal will result in a favorable decision or that the Company's securities will remain listed on Nasdaq.

Sentiment

Score: 2

Explanation: The filing indicates a severe negative event with the receipt of a delisting notice from Nasdaq, compounded by the ineligibility for a standard compliance period. While an appeal is planned, there are no assurances of a favorable outcome, creating significant uncertainty and risk for the company and its shareholders.

Positives

• The Company intends to appeal the delisting determination by January 7, 2026, which will temporarily stay the suspension of its securities.
• The Company plans to present its strategy to regain compliance with Nasdaq's minimum bid price requirement.

Negatives

• Received a notice of non-compliance with Nasdaq's minimum bid price requirement ($1.00 per share).
• The Company's common stock closing bid price has been below $1.00 for 30 consecutive business days.
• Not eligible for the standard 180-day compliance period due to a prior reverse stock split and being under a Mandatory Panel Monitor.
• Nasdaq has determined that the Company's securities will be delisted and suspended from The Nasdaq Capital Market on January 9, 2026, if the appeal is unsuccessful or not filed.

Risks

• Failure to obtain a favorable decision from the Nasdaq Hearings Panel, leading to delisting.
• Inability to regain compliance with Nasdaq's minimum bid price requirement.
• Loss of liquidity and investor interest if the stock is delisted from Nasdaq.
• Potential negative impact on the Company's ability to raise capital in the future.
• Reputational damage associated with delisting.

Future Outlook

The Company intends to appeal Nasdaq's delisting determination by January 7, 2026, and will present its plans to regain compliance with the minimum bid price requirement. However, there are no assurances that the appeal will be successful or that the Company's securities will remain listed on The Nasdaq Capital Market.

Management Comments

• "The Company intends to appeal the delisting determination on or before January 7, 2026 by requesting an appeal with a Nasdaq Hearings Panel."
• "The Company intends to present its plans to regain compliance with the Minimum Bid Price Requirement."
• "There are no assurances a favorable decision from the Hearing Panel will be obtained or that the Company’s securities will remain listed on The Nasdaq Capital Market."

Industry Context

The biotechnology and pharmaceutical industries are highly capital-intensive, and maintaining a listing on a major exchange like Nasdaq is crucial for access to capital, liquidity for investors, and corporate visibility. Delisting can severely hinder a company's ability to fund research and development, attract talent, and maintain investor confidence, especially for smaller companies like Salarius Pharmaceuticals.

Stakeholder Impact

• Shareholders: Significant negative impact due to potential loss of liquidity, reduced market visibility, and likely downward pressure on share price if delisted. Uncertainty regarding the appeal outcome.
• Employees: Potential uncertainty regarding the company's future and ability to fund operations, which could affect morale and retention.
• Creditors/Lenders: May view the company as higher risk, potentially impacting future financing terms or access to credit.

Next Steps

• File an appeal with the Nasdaq Hearings Panel by January 7, 2026.
• Present plans to the Hearings Panel to regain compliance with the Minimum Bid Price Requirement.
• Await the decision from the Nasdaq Hearings Panel regarding the appeal.

Key Dates

Recommendation

The immediate threat of delisting from Nasdaq, coupled with the ineligibility for a standard compliance period due to prior issues (reverse stock split, Mandatory Panel Monitor), presents an extremely high risk profile. While an appeal is planned, the outcome is uncertain, and delisting would severely impair the company's ability to operate, raise capital, and maintain investor confidence. This situation signals significant fundamental challenges and a high probability of further share price erosion.

Keywords

Salarius Pharmaceuticals, SLRX, Nasdaq delisting, minimum bid price, listing compliance, reverse stock split, biotechnology, pharmaceuticals, SEC filing, 8-K