Salarius-Decoy merger update: legacy holders ~7.6% stake, $6M minimum financing required

Decoy Therapeutics Inc.

Step one: Decoy stockholders receive ~92.4% of Salarius; legacy holders ~7.6% based on exchange ratio.
Merger closing conditioned on minimum $6.0M Qualified Financing and continued Nasdaq listing.
Step two requires stockholder approval for Preferred Stock conversion; Nasdaq initial listing must precede.
Decoy's lead pan-coronavirus prophylactic IND planned H1 2026; funded by Gates Foundation and BARDA.
Combined company to explore P-PROTACs using Salarius' SP-3164, initial focus on metastatic colorectal cancer.

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