Salarius Pharmaceuticals Inc. has announced a Third Amendment to its Agreement and Plan of Merger with Decoy Therapeutics Inc., which allows certain holders of Decoy's non-convertible promissory notes to exchange their debt for shares of Salarius' newly created Series B Non-Voting Convertible Preferred Stock. This amendment, entered on July 18, 2025, maintains the relative ownership percentages of the combined company, with Salarius legacy stockholders retaining 7.6% and Decoy's legacy stockholders holding 92.4% pre-Qualified Financing. The amendment ensures that the number of shares underlying the Series A Preferred Stock, issued to Decoy stockholders and convertible noteholders, will be adjusted to account for the Series B Preferred Stock, preserving the previously disclosed ownership ratios. The company is set to finalize the note exchange agreements immediately after the merger's completion.