Salarius Phar­ma­ceu­ti­cals lays off over 50% of staff in search for strate­gic al­ter­na­tives

Salarius Phar­ma­ceu­ti­cals an­nounced it has laid off over half of its 12 em­ploy­ees and is look­ing for strate­gic al­ter­na­tives — any­thing from an ac­qui­si­tion to a re­verse merg­er or li­cens­ing agree­ments — just a month af­ter the com­pa­ny re­ceived FDA clear­ance to be­gin a tri­al fol­low­ing a $6 mil­lion pri­vate place­ment in May.

David Arthur, the Hous­ton biotech’s pres­i­dent and CEO, said in a state­ment that af­ter re­view­ing each drug pro­gram’s fund­ing needs and the “cur­rent fi­nan­cial mar­kets,” the board of di­rec­tors de­cid­ed to lim­it drug de­vel­op­ment and in­stead search for a strate­gic al­ter­na­tive.

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