Salarius Pharmaceuticals, Inc. has announced an agreement to merge with Decoy Therapeutics. The transaction involves Salarius merging with Decoy through a series of mergers, resulting in Decoy becoming a wholly-owned subsidiary of Salarius. The merger is structured as a stock-for-stock exchange, where all of Decoy's outstanding equity interests will be swapped for Salarius common and newly designated Series A Preferred Stock. The preferred stock is intended to have economic rights similar to Salarius common stock but with limited voting rights. The successful completion of the merger is subject to certain conditions, including a minimum of $6.0 million in proceeds from future offerings and maintaining the listing of Salarius' common stock on Nasdaq. Salarius has also adjusted the exercise price of previously issued warrants and issued additional warrants, reflecting strategic adjustments in preparation for the merger.