Salarius Pharmaceutical Inc. (NASDAQ:SLRX) has announced its financial results and corporate updates for the three months ended September 30, 2020.
Salarious expanded Ewing sarcoma clinical study
The company ended the quarter with $9.6 million in cash and cash equivalents, which was due in part to gross proceeds of $6.2 million from the underwritten public offering closed on August 3, 2020. In Q3 2020, the company reported a net loss of $0.1 per diluted and basic share compared to $0.73 per share in Q3 2019.
Recently the company announced that the Ewing sarcoma Phase 1/2 clinical study is finalizing dose escalation to ascertain the maximum tolerated dose. The company plans to advance the study into phase 2 dose expansion in the first quarter of 2021. Most importantly, the Ewing sarcoma clinical study expansion extended to incorporate patients having Ewing-related sarcomas like desmoplastic small round cell tumor, myxoid liposarcoma, and other sarcomas whose biology is similar to Ewing sarcoma. These kinds of sarcomas epitomize rare cancers that affect adults and children with an unmet need for more treatment alternatives.
Seclidemstat is a potential treatment for several cancers
Salarius CEO and President David Arthur said that the events in Q3 2020 confirm Salarius’ growth strategy. They also show the potential of seclidemstat as a possible treatment alternative for cancers with a high unmet medical need. He said that the company’s lead Ewing sarcoma clinical program is advancing well and could reach the maximum tolerated dose in the phase 1 part as scheduled. Phase 2 dose-escalation part of the study will commence in Q1 2021. Arthur said that this is a huge milestone that will allow the company to establish a recommended phase 2 dose regiment for the study and commence broader patient treatment of Ewing sarcomas and related sarcomas.
The CEO confirmed the advanced solid tumors and Ewing sarcoma are the company’s advanced development programs. He said that seclidemstat presents a chance to address cancers where more treatment alternatives are necessary. As a result, the company moved to expand the Ewing sarcoma clinical study to include other sarcomas.
