Shares of Salarius Pharmaceuticals (SLRX) were up over 151% Monday after the company said it and Decoy Therapeutics agreed to a merger deal to create a new company in which Salarius and Decoy investors will respectively hold 14% and 86% of the combined company's outstanding shares.
Salarius' wholly-owned unit will merge with Decoy and the newly formed company will operate as Decoy Therapeutics, according to the statement.
Decoy Chief Executive Officer Frederick Pierce, Chief Scientific Officer Barbara Hibne and Salarius' Chief Financial Officer Mark Rosenblum will be part of the combined company's leadership team.
Price: 3.93, Change: +2.37, Percent Change: +151.92
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