Salarius Pharmaceuticals Inc. ( SLRX ) shares are up Tuesday following news that the company received a conditional extension from the Nasdaq Stock Market to regain compliance with listing standards.

What To Know: The Nasdaq Hearings Panel granted Salarius time to meet two key requirements: restoring its stockholders' equity to at least $2.5 million by early July and bringing its share price back above the $1.00 minimum bid threshold by early August.

This development follows a delisting notice issued earlier this year when Salarius failed to meet both the $1.00 minimum bid price rule and the $2.5 million minimum stockholders' equity requirement under Nasdaq Listing Rules 5550(a)(2) and 5550(b)(1), respectively.

The ruling gives Salarius a narrow window to retain its listing and avoid removal from the Nasdaq Capital Market. If the company fails to meet either milestone, the panel may move forward with delisting the stock.

SLRX Price Action: Salarius shares were up 63.2% at $1.02 at the time of writing, according to Benzinga Pro.

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