---
schema_version: "secwatch.filing_event.v1"
accession: "0001615219-25-000004"
form_type: "8-K"
ticker: "DCOY"
cik: "0001615219"
company_name: "Decoy Therapeutics Inc."
filed_at: "2025-01-13T23:59:59+00:00"
generated_at: "2026-05-28T03:25:01.685898+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Salarius to merge with Decoy; Decoy valued at $28M, legacy holders ~14.1% ownership

## Summary
- Merger structured as stock-for-stock with Decoy valued at $28M and Salarius at $4.6M, based on cash at close.
- Legacy Salarius stockholders retain ~14.1%; Decoy stockholders own ~85.9% of combined company.
- Closing conditioned on minimum $6M Qualified Financing and continued Nasdaq listing.
- Combined company to focus on Decoy's IMP3ACT peptide platform, SP-3164 P-PROTACs; initial targets antivirals and CRC.
- Salarius paid $350K to cancel a warrant for 454,546 shares; SP-2577 program remains on partial clinical hold.

## SEC filing metadata
- accession: 0001615219-25-000004
- form_type: 8-K
- ticker: DCOY
- cik: 0001615219
- company_name: Decoy Therapeutics Inc.
- filed_at: 2025-01-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1615219/000161521925000004/0001615219-25-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1615219/000161521925000004/flks-20250110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001615219-25-000004
- JSON: https://secwatch.observer/filing/0001615219-25-000004.json
- Plain text: https://secwatch.observer/filing/0001615219-25-000004.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.