Salarius Pharma slumps as higher costs drive bigger loss, PT cut

Decoy Therapeutics

11/03/2022 13:56

** Cancer drug developer's shares  SLRX.O  decline as much
as 20% to 40 cents before the bell
     ** SLRX reports Q4 2021 net loss of $4.1 mln, or 9
cents/share, driven by a 28% rise in costs; loss was $1.8 mln,
or 10 cents/share, in Q4 2020  urn:newsml:reuters.com:*:nGNX5F94Lb
    ** End-2021 cash, equivalents of $29.2 mln expected to fund
operations into 2023
    ** H.C. Wainwright trims price target to $4 from $5, citing
increased costs of capital; keeps "buy" rating
    ** Wainwright says bigger loss also related to lack of grant
funding
    ** SLRX may require additional equity dilutive financing to
fund drug development - Brokerage 
    ** SLRX fell ~46% in 2021 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))