Salarius Pharmaceuticals Announces Planned Corporate Name and Ticker Symbol Change to Decoy Therapeutics, Reflecting Strategic Pivot to Next-Generation Antiviral and Peptide-Conjugate Platform

Rhea-AI Summary

Salarius Pharmaceuticals (NASDAQ: SLRX) announced that following its combination with Decoy Therapeutics, it will change its corporate name to Decoy Therapeutics, Inc. and adopt the NASDAQ ticker DCOY, expected to become effective in early January 2026. The company will continue trading as SLRX until the effective date and the transfer agent remains unchanged. Decoy management, joined by Salarius finance, will lead operations as the combined business focuses on a peptide-conjugate platform targeting viral diseases and oncology.

Key priorities for 2026 include advancing lead antiviral programs toward regulatory readiness, expanding preclinical validation, leveraging AI-enabled discovery, and pursuing collaborations and non-dilutive funding.

Positive

• Merger complete; rebrand to DCOY planned for early January 2026
• Decoy management to lead combined company's operations
• Focus on peptide-conjugate platform targeting pan-coronavirus, influenza, RSV
• Lead antiviral program advancing toward IND/human trial readiness
• Strategic interest from BARDA and global health organizations
• 2026 roadmap emphasizes AI-enabled discovery and partnership pursuit

Negative

• None.

Key Figures

Ticker change effective Early January 2026 Planned switch from SLRX to DCOY on Nasdaq

Strategic roadmap year 2026 Execution-focused roadmap for pipeline and platform expansion

Market Reality Check

$0.6520 Last Close

Volume Volume 382,313 is below the 20-day average of 483,189, indicating muted trading interest pre-news. normal

Technical Shares at $0.653 are trading well below the 200-day MA of $8.08, reflecting a prolonged downtrend before this announcement.

Peers on Argus

While SLRX was down 8.93% pre-news, several biotech peers also traded lower (e.g., LIPO -19.26%, PTIX -7.49%, GTBP -6.67%), suggesting broader weakness but without confirmed sector-wide momentum from the scanner.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 01	Research partnership	Positive	-7.4%	Collaboration on influenza fusion inhibitors and plan for pan-coronavirus IND.
Nov 19	Post-merger update	Positive	-8.3%	Clarified ongoing Nasdaq listing and outlined cash, shares, and IND plans.
Nov 13	Merger completion	Positive	+5.2%	Closed Decoy merger, detailed IMP3ACT platform and lead antiviral roadmap.
Nov 11	Equity offering	Negative	-51.0%	Underwritten public offering with common shares, pre-funded and common warrants.
Oct 13	Nasdaq compliance	Positive	-2.9%	Regained full Nasdaq compliance and reiterated planned Decoy combination.

Pattern Detected

Recent news has often been strategic or operationally positive, yet the stock has frequently traded lower afterward, with the November 13 merger completion as the main positive outlier.

Recent Company History

Over the past few months, Salarius/Decoy has executed a major strategic shift. On November 13, 2025, it completed the Decoy merger and a financing, creating a peptide-conjugate platform company with pro forma cash of $14 million. Subsequent disclosures highlighted Nasdaq compliance, insider buying, and collaboration on avian flu research, plus expectations for an IND filing within 12 months. Today’s name and ticker change to Decoy Therapeutics and DCOY continues that transition toward a focused antiviral and oncology platform.

Regulatory & Risk Context

Active S-3 Shelf Registration 2025-08-15

An effective Form S-3 shelf filed on 2025-08-15 allows Salarius to offer various securities, including common and preferred stock, warrants, debt, and units via future prospectus supplements. The company has already used this shelf at least 2 times, as indicated by 424B4 and 424B5 filings, which can facilitate additional capital raises subject to market conditions.

Market Pulse Summary

This announcement outlines Salarius’ transition to Decoy Therapeutics, with a new Nasdaq ticker DCOY and a 2026 roadmap centered on antiviral and peptide-conjugate platforms. It builds on recent merger and financing steps that funded development and advanced Decoy’s IMP3ACT technology. Investors can track execution toward planned IND-enabling activities, the evolution of BARDA and global health interest in the lead antiviral program, and any further use of the existing Form S-3 shelf for capital needs.

Key Terms

peptide-conjugate medical

"platform-driven biotechnology company focused on novel peptide-conjugate therapeutics"

A peptide-conjugate is a small chain of amino acids (a peptide) chemically linked to another molecule—such as a drug, imaging agent or carrier—to guide that molecule to a specific tissue or cell. Think of it like a guided delivery package that helps the active ingredient reach its target more precisely. For investors, peptide-conjugates can improve a therapy’s effectiveness and safety, influence development costs and timelines, and affect commercial potential and regulatory risk.

Biomedical Advanced Research and Development Authority (BARDA) regulatory

"has attracted strategic interest from the Biomedical Advanced Research and Development Authority (BARDA)"

A U.S. government agency that funds and supports the development of medical treatments, vaccines, diagnostics and devices for public health emergencies. For investors, BARDA matters because its funding, technical support and procurement commitments can lower a company’s development risk and create a reliable customer, much like a major early backer or anchor buyer that helps turn a risky idea into a viable product and market opportunity.

organoid-level medical

"Cell-based and organoid-level validation of novel GPCR targeted drug candidates"

Organoid-level describes tests or effects observed in miniature, lab-grown versions of human organs made from stem cells that mimic real tissue structure and function. For investors, evidence at the organoid level means a company’s therapy or drug has shown activity in a model that is more realistic than flat cell cultures but still not a full animal or human trial, like testing in a detailed scale model of a city before building the real thing.

GPCR medical

"validation of novel GPCR targeted drug candidates outside of antivirals"

G protein-coupled receptors (GPCRs) are a large family of proteins on cell surfaces that act like locks sensing chemical signals — when the right key binds, they trigger internal cell responses. They matter to investors because GPCRs are the target of many marketed drugs and experimental therapies; success or failure in developing a GPCR-targeting drug can change a company’s revenue prospects, clinical progress, and licensing value, much like winning control of a widely used distribution channel.

investigational new drug (IND) applications regulatory

"efforts are intended to support multiple investigational new drug (IND) applications"

An investigational new drug (IND) application is a formal regulatory request to begin testing a drug in humans, showing initial laboratory and safety data to the authority that oversees medicines. It’s like asking permission to take a prototype car out of the garage and drive it on public roads: approval lets clinical trials proceed, which is a major step that can unlock value or expose risks for investors as a drug’s safety and effectiveness are evaluated.

AI-enabled computational infrastructure technical

"Leveraging AI-enabled computational infrastructure to accelerate candidate selection"

A set of hardware, software and networking tools designed specifically to run artificial intelligence tasks — think powerful servers, specialized chips, large storage systems and the programs that connect them. It matters to investors because this 'engine room' determines how fast and cheaply a company can develop, deploy and scale AI features; like a commercial kitchen for complex recipes, better infrastructure can lower costs, speed product delivery and create a competitive edge or require heavy upfront spending.

non-dilutive grant funding financial

"positioning Decoy to pursue additional non-dilutive grant funding, collaborations"

Money awarded by governments, foundations, or similar organizations that a company can use for specific projects without having to give up ownership stakes or repay it. It matters to investors because it boosts a company’s cash and can extend its runway or fund development without diluting existing shareholders—think of it as a grant or scholarship that supports growth rather than a loan or sale of company shares.

pan-coronavirus medical

"early programs addressing pan-coronavirus activity and multi-viral threats"

Pan-coronavirus describes medicines, vaccines or diagnostic tools designed to work against a broad range of coronaviruses and their variants by targeting features those viruses share. For investors, a pan-coronavirus product is like a universal charger: one solution can serve many future outbreaks and strains, which can expand the potential market, reduce the risk that a single new variant will make the product obsolete, and therefore affect a developer’s long-term revenue and valuation.

AI-generated analysis. Not financial advice.

The combined Company will move forward as Decoy Therapeutics, Inc. and trade on the NASDAQ Stock Market under the ticker “DCOY” effective in early January 2026

Company to focus on advancing lead antiviral programs, expanding platform validation and achieving multiple data milestones

Strategic 2026 roadmap designed to accelerate development, expand pipeline breadth, and drive long-term shareholder value

HOUSTON, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Salarius Pharmaceuticals, Inc. (NASDAQ: SLRX) today announced that in connection with its recent combination with Decoy Therapeutics Inc. (Decoy), the Company intends to change its corporate name to Decoy Therapeutics Inc. and its NASDAQ ticker symbol to DCOY.

The planned name and ticker change mark a pivotal step in the Company’s transformation into a platform-driven biotechnology company focused on novel peptide-conjugate therapeutics with applications across viral diseases and oncology.

The Company expects the name and ticker symbol change to become effective in early January 2026. The Company will continue to trade under the existing symbol SLRX until the effective date. The Company's transfer agent will remain unchanged. Stockholder approval was not required to take any specific action with respect to the corporate name change or new ticker symbol. The corporate name change and new ticker symbol will not impact the Company's operations. As previously announced Decoy’s senior management team joined by Salarius’s finance team will lead the new Company’s operations.

“This planned rebrand reflects far more than a name change, it represents the strategic foundation of the combined companies,” said Rick Pierce, Chief Executive Officer of Decoy Therapeutics. “With the merger complete, we are now singularly focused on advancing integration of Decoy’s differentiated therapeutic platforms, expanding our pipeline and creating multiple value-inflection opportunities through data generation, program advancements, including getting our lead program into human clinical trials.”

A Platform Built for Scale, Speed, and Strategic Partnerships
Decoy Therapeutics is advancing a proprietary peptide-conjugate platform designed to selectively intercept and neutralize high-value biological targets, with early programs addressing pan-coronavirus activity and multi-viral threats, including influenza and RSV. The Company’s lead antiviral program has attracted strategic interest from the Biomedical Advanced Research and Development Authority (BARDA) and global health organizations, positioning Decoy to pursue additional non-dilutive grant funding, collaborations, and future development partnerships as data emerge.

In parallel, Decoy is advancing next-generation discovery programs, including:

• Multi-virus decoy candidates designed to address overlapping respiratory threats
• Cell-based and organoid-level validation of novel GPCR targeted drug candidates outside of antivirals

Together, these efforts are intended to support multiple investigational new drug (IND) applications and their enabling activities, peer-reviewed publications, and partnering discussions, while maintaining capital efficiency and flexibility.

2026 Focus: Execution, Data and Potential Milestones

Looking ahead, the Company plans to prioritize:

• Advancing lead antiviral programs toward regulatory readiness
• Expanding discovery and preclinical validation across multiple platforms
• Leveraging AI-enabled computational infrastructure to accelerate candidate selection
• Pursuing strategic collaborations with big pharma, technology leaders, and academic institutions
• Strengthening the Company’s capital structure and investor visibility
  
  

The Company believes this execution-focused approach positions Decoy Therapeutics to generate multiple shots on goal while retaining upside through partnerships and non-dilutive funding sources.

About Decoy Therapeutics Inc.
Salarius’ subsidiary Decoy is a preclinical-stage biotechnology company that is leveraging ML and AI tools alongside high-speed synthesis techniques to rapidly design, engineer and manufacture peptide conjugate drug candidates that target serious unmet medical needs. The Company’s initial pipeline is focused on respiratory viruses and GI cancers. Decoy has attracted financing from institutional investors as well as significant non-dilutive capital from the Massachusetts Life Sciences Seed Fund, the Google AI startup program and the NVIDIA Inception program among other sources. The company has also received QuickFire Challenge award funding provided by the BARDA through BLUE KNIGHT™, a collaboration between Johnson & Johnson Innovation – JLABS and BARDA within the Administration for Strategic Preparedness and Response.

About Salarius Pharmaceuticals, Inc.

Salarius is a clinical-stage biopharmaceutical company with two drug candidates for patients with cancer in need of new treatment options. Salarius’ product portfolio includes seclidemstat, the company’s lead candidate, which is being studied in an investigator-initiated Phase 1/2 clinical study in hematologic cancers underway at MD Anderson Cancer Center as a potential treatment for myelodysplastic syndrome (MDS) and chronic myelomonocytic leukemia (CMML) in patients with limited treatment options. SP-3164, the company’s IND-stage second asset, is an oral small molecule protein degrader. Salarius previously received financial support for seclidemstat for the treatment of Ewing sarcoma from the National Pediatric Cancer Foundation and was a recipient of a Product Development Award from the Cancer Prevention and Research Institute of Texas. For more information, please visit www.salariuspharma.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company, including expected achievement of milestones for its lead asset and future prospects of the Company. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of the Company, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “can,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” and other similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the risk that the Company will not obtain sufficient financing to execute on their business plans and risks related to Decoy’s products and development plans, including unanticipated issues with any IND application process and the potential of the IMP3ACT™ platform. Readers are urged to carefully review and consider the various disclosures made by Salarius in its reports filed with the SEC, including its Current Report on Form 8-K filed with the SEC on August 22, 2025, its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as revised or supplemented by its Quarterly Reports on Form 10-Q and other documents filed with the SEC. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, the Company’s actual results may vary materially from those expected or projected.

Contact:
Salarius Pharmaceuticals
Rick Pierce, CEO
Pierce@decoytx.com
617-447-8299

Business Development
Peter Marschel, CBO
Peter@Decoytx.com
617-943-6305

Investors and Media
Alliance Advisors IR
Jody Cain
jcain@allianceadvisors.com
310-691-7100

Investor Contact:
JTC Team, LLC
Jenene Thomas
(908) 824-0775
dcoy@jtcir.com 

FAQ

When will Salarius (SLRX) change its name to Decoy Therapeutics and ticker to DCOY?

The name and ticker change are expected to become effective in early January 2026, with SLRX trading continuing until that date.

Will the corporate name and ticker change affect Salarius's (SLRX) transfer agent or stockholder approvals?

The transfer agent will remain unchanged and no stockholder approval was required for the corporate name or ticker change.

What will Decoy Therapeutics (future DCOY) focus on after the merger?

The combined company will focus on a peptide-conjugate platform advancing antiviral programs and expanding discovery in viral diseases and oncology.

Is Decoy Therapeutics pursuing human trials for its lead antiviral program (future DCOY)?

The company stated the lead antiviral program is being advanced toward regulatory readiness and aims to move into human clinical trials.

Has Decoy Therapeutics (DCOY) received government interest or funding support?

The lead antiviral program has attracted strategic interest from BARDA and global health organizations, positioning the company to pursue non-dilutive grant funding and collaborations.