Salarius Pharmaceuticals Inc (NASDAQ: SLRX) in the Green Zone Over Key Clinical Findings

Salarius Pharmaceuticals Inc (NASDAQ: SLRX) exited yesterday at $1.22, up 0.83%. SLRX has been in the green zone for a long time, and here’s why. 

Investors responding well to key findings from seclidemstat’s clinical research

SLRX, the clinical-stage biopharmaceutical company, is known for developing treatments for cancers, solid tumors, and pediatric cancers. The recently announced findings from its clinical research of lead candidate, seclidemstat, have gone down well with the investors. The announced findings represented data on early efficacy, dosing, and safety signals of seclidemstat in patients suffering from a rare kind of pediatric bone cancer, among other solid tumors. 

The lead candidate is a novel, oral, reversible inhibitor for LSD1 enzyme, which plays a crucial role in the progression and development of cancers. The data showed favorable pharmacokinetics and a manageable safety profile, indicating that the research is going well ahead. 

Q1-21 financial highlights

Apart from this, SLRX reported its financial figures for the three months ending March 31, 2021. Net loss reported is $1.9 million, or $0.06 per basic and diluted share in Q1-2021 as against $2.1 million, or $0.22 per basic and diluted share net loss in the corresponding period in the previous year. 

The company used $2.7 million net cash for its operating activities in Q1-2021, a decline of around $1.0 million from the year before. Cash and cash equivalents came in at $36.6 million at the end of the first quarter in 2021. 

Q1: A period of significant activities for Salarius Pharmaceuticals Inc (NASDAQ: SLRX)

During the first quarter, the company strengthened its capital position with gross proceeds of over $30 million. Additionally, dose escalation of the Phase 1/2 trial of seclidemstat is another crucial aspect. Now, the company has entered the dose-expansion stage for the drug trial, including FET-rearranged sarcomas, which is also called Ewing-related sarcomas. 

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