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Wednesday, March 22, 2023

Salarius Pharmaceuticals, Inc. (SLRX) Stock Declining Despite No Clear Reason

Salarius Pharmaceuticals, Inc. (SLRX), a clinical-stage biotechnology company, has declined by 1.76% in the premarket trading session. Consequently, SLRX stock s trading at $0.4793 at the time of the writing. On Thursday, SLRX closed the day at $0.49 after plunging 6.06% during the mid-day session. The last press release from the company was regarding a presentation at a virtual conference.

Presentation at the Conferences

On Thursday, SLRX announced that it would present at the upcoming H.C. Wainwright BioConnect. The company also said that it would participate in the Biotech Showcase and BIO Partnering @ JPM. All of these events will be held in virtual mode. The CEO of Salarius would highlight the company’s business and recent corporate achievements and some developments related to clinical trials of seclidemstat, the company’s lead investigational cancer drug.

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Q3 2021 Operational Results

In early November, SLRX released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September 2021. The company bore total operating expenses of $3.74 million during the quarter against $3.13 million for the same quarter of 2020. The net loss suffered by the company during the three months was $3.73 million against $1.71 million for the same three month period of 2020. The loss per basic and diluted share for the period was $0.08 against $0.10 for the same period of 2020.

SLRX Financial Results

Alongside the operational results, SLRX also released the financial results of the company. The company had cash and cash equivalents of $31.9 million on 30th September. The total current assets in possession of the company at the said date were $35.18 million, while the total assets were $44.26 million. The company had total payable liabilities of $1.61 million on the said date, while the total shareholder’s equity was estimated to be $42.65 million.

Future Outlook for SLRX

A closer look at statistics reveals that SLRX stock has mostly shown abysmal performance during the recent past, potentially owing to some negative developments associated with clinical trials of the company. But analysts are hopeful that the stock has got the tendency to attract potential investors in huge volumes.

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