Why Is Salarius Pharmaceuticals Stock (SLRX) Up 65% Today?
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Salarius Pharmaceuticals (SLRX) stock surged 66.33% on Wednesday after a significant drop the previous day due to an underwritten public offering of over 2.5 million shares at $1.50 each, raising approximately $7 million. The stock typically rebounds post-offering, and the offering was set to close today. The proceeds will fund clinical development and pay off Decoy's promissory notes. Despite the rally, SLRX is down 96.45% year-to-date and 95.37% over the past year, with heavy trading volume exceeding 27 million shares today.
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