0001628280-25-001947 | S-1 | XBRL Viewer | Salarius Pharmaceuticals INC

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PREPAID EXPENSES AND OTHER CURRENT ASSETS - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid insurance	$ 419,602	$ 468,495	$ 624,612
Other prepaid and current assets	119,015	151,268	167,576
Total prepaid expenses and other current assets	$ 538,617	$ 619,763	$ 803,373

COMMITMENTS AND CONTINGENCIES	9 Months Ended	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Cancer Prevention and Research Institute of Texas In June 2016, the Company entered into a Cancer Research Grant Contract with CPRIT. Pursuant to the contract, CPRIT awarded the Company a grant up to $18.7 million, further modified to $16.1 million to fund development of LSD 1 inhibitor. The grant expired in 2023. The Company will retain ownership over any intellectual property developed under the contract (“Project Result”). With respect to non-commercial use of any Project Result, the Company agreed to grant to CPRIT a nonexclusive, irrevocable, royalty-free, perpetual, worldwide license with right to sublicense any necessary additional intellectual property rights to exploit all Project Results by CPRIT, other governmental entities and agencies of the State of Texas, and private or independent institutions of higher education located in Texas, for education, research and other non-commercial purposes. The Company is obligated to make revenue-sharing payments to CPRIT with respect to net sales of any product covered by the contract, up to a maximum repayment of certain percentage of the aggregate amount paid to the Company by CPRIT under the CPRIT contract. The payments are determined as a percentage of net sales, which may be reduced if the Company is required to obtain a license from a third party to sell any such product. In addition, upon meeting the foregoing limitation on revenue-sharing payments, the Company agreed to make continued revenue-sharing payments to CPRIT of less than 1% of net sales. License Agreement with the University of Utah Research Foundation In 2011, the Company entered into a license agreement with the University of Utah, under which the Company acquired an exclusive license to an epigenetic enzyme lysine specific demethylase 1 (“LSD1”). In exchange for the license, the Company issued 2% equity ownership in the Company on a fully diluted basis at the effective date of the agreement subject to certain adjustments specified in the agreement, such as granted revenue sharing rights on any resulting products or processes to commence on first commercial sale, and milestone payments based upon regulatory approval of any resulting product or process as well as on the second anniversary of first commercial sale. Lease Agreement The Company presently leases office space under operating lease agreements on a month-to-month basis.	COMMITMENTS AND CONTINGENCIES Cancer Prevention and Research Institute of Texas In June 2016, the Company entered into a Cancer Research Grant Contract with CPRIT. Pursuant to the contract, CPRIT awarded the Company a grant up to $18.7 million, further modified to $16.1 million to fund development of LSD 1 inhibitor. The grant expired during 2023. The Company will retain ownership over any intellectual property developed under the contract (“Project Result”). With respect to non-commercial use of any Project Result, the Company agreed to grant to CPRIT a nonexclusive, irrevocable, royalty-free, perpetual, worldwide license with right to sublicense any necessary additional intellectual property rights to exploit all Project Results by CPRIT, other governmental entities and agencies of the State of Texas, and private or independent institutions of higher education located in Texas, for education, research and other non-commercial purposes. The Company is obligated to make revenue-sharing payments to CPRIT with respect to net sales of any product covered by the contract, up to a maximum repayment of certain percentage of the aggregate amount paid to the Company by CPRIT under the CPRIT contract. The payments are determined as a percentage of net sales, which may be reduced if the Company is required to obtain a license from a third party to sell any such product. In addition, upon meeting the foregoing limitation on revenue-sharing payments, the Company agreed to make continued revenue-sharing payments to CPRIT of less than 1% of net sales. License Agreement with the University of Utah Research Foundation In 2011, the Company entered into a license agreement with the University of Utah, under which, the Company acquired license to LSD 1. In exchange for the license, the Company issued 2% equity ownership in the Company based on a fully diluted basis at the effective date of the agreement and subject to certain adjustments specified in the agreement, granted revenue sharing rights on any resulting products or processes to commence on first commercial sale, and milestone payments based upon regulatory approval of any resulting product or process as well as on the second anniversary of first commercial sale. Lease Agreement The Company presently leases office space under operating lease agreements on a month to month basis.

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2023	Sep. 30, 2024	Dec. 31, 2011
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Award amount	$ 18.7	$ 16.1
Continued payments, percent of net sales		1.00%	1.00%
University of Utah Research Foundation
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by noncontrolling owner				2.00%

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended	12 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Sep. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable, are used to measure fair value: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Significant unobservable inputs including Salarius’ own assumptions in determining fair value. The Company believes the recorded values of its financial instruments, including cash and cash equivalents, accounts payable and note payable approximate their fair values due to the short-term nature of these instruments.	FAIR VALUE OF FINANCIAL INSTRUMENTS Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable, are used to measure fair value: Level 1-Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2-Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3-Significant unobservable inputs including Salarius’ own assumptions in determining fair value. The Company believes the recorded values of its financial instruments, including cash and cash equivalents, accounts payable and note payable approximate their fair values due to the short-term nature of these instruments.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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+ Details

EQUITY-BASED COMPENSATION - Summary of Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares
Outstanding, beginning balance (shares)	13,391	7,990
Granted (shares)	0	6,420
Exercised (shares)	0	0
Forfeited (shares)	(2,228)	(847)
Expired (shares)	0	(172)
Outstanding, ending balance (shares)	11,163	13,391	7,990
Exercisable (shares)	8,448	4,763
Weighted-Average Exercise Price
Beginning balance (in usd per share)	$ 189	$ 550
Granted (in usd per share)	0	88
Exercised (in usd per share)		0
Forfeited (in usd per share)		0
Expired (in usd per share)		0
Ending balance (in usd per share)	190	189	$ 550
Exercisable (in usd per share)	$ 212	$ 287
Weighted-Average Remaining Contractual Term (in years)
Outstanding, weighted-average remaining contractual term	7 years 3 months 3 days	8 years 3 months 14 days	8 years 6 months
Exercisable, weighted-average remaining contractual term	7 years 1 month 17 days	7 years 7 months 17 days

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standard Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”).	Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standard Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The Company considered its going concern disclosure requirements in accordance with ASC 205-40-50.The Company has performed an analysis and concluded substantial doubt exists with respect to the Company being able to continue as a going concern through one year from the date of issuance of the consolidated financial statements for the year ended December 31, 2023.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America as defined by the FASB ASC requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America as defined by the FASB ASC requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Salarius considers all highly liquid investments with original maturities of three months or less to be cash equivalents.	Cash and Cash Equivalents Salarius considers all highly-liquid investments with original maturities of three months or less to be cash equivalents.
Financial Instruments and Credit Risks	Financial Instruments and Credit Risks Financial instruments that potentially subject the Company to credit risk include cash and cash equivalents and restricted cash. Cash is deposited in demand accounts in federally insured domestic institutions to minimize risk. Insurance is provided through the Federal Deposit Insurance Corporation. Although the balances in these accounts exceed the federally insured limit from time to time, the Company has not incurred losses related to these deposits.	Financial Instruments and Credit Risks Financial instruments that potentially subject the Company to credit risk include cash and cash equivalents and restricted cash. Cash is deposited in demand accounts in federally insured domestic institutions to minimize risk. Insurance is provided through the Federal Deposit Insurance Corporation (“FDIC”). Although the balances in these accounts exceed the federally insured limit from time to time, the Company has not incurred losses related to these deposits.
Warrants	Warrants The Company determines whether warrants should be classified as a liability or equity. For warrants classified as liabilities, the Company estimates the fair value of the warrants at each reporting period using Level 3 inputs with changes in fair value recorded in the Condensed Consolidated Statement of Operations within change in fair value of warrant liability. The estimates in valuation models are based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk-free interest rate and the fair value of the common stock underlying the warrants, and could differ materially in the future. The Company will continue to adjust the fair value of the warrant liability at the end of each reporting period for changes in fair value from the prior period until the earlier of the exercise or expiration of the applicable warrant. For warrants classified as equity contracts, the Company allocates the transaction proceeds to the warrants and any other free-standing instruments issued in the transaction based on an allowable allocation method.	Warrants The Company determines whether warrants should be classified as a liability or equity. For warrants classified as liabilities, the Company estimates the fair value of the warrants at each reporting period using Level 3 inputs with changes in fair value recorded in the Consolidated Statement of Operations within change in fair value of warrant liability. The estimates in valuation models are based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk-free interest rate and the fair value of the common stock underlying the warrants, and could differ materially in the future. The Company will continue to adjust the fair value of the warrant liability at the end of each reporting period for changes in fair value from the prior period until the earlier of the exercise or expiration of the applicable warrant. For warrants classified as equity contracts, the Company allocates the transaction proceeds to the warrants and any other free-standing instruments issued in the transaction based on an allowable allocation method.
Grants Receivable and Revenue	Grants Receivable and Revenue Salarius’ source of revenue had been from a grant received from CPRIT. Grant revenue is recognized when qualifying costs are incurred and there is reasonable assurance that conditions of the grant have been met. Cash received from grants in advance of incurring qualifying costs is recorded as deferred revenue and recognized as revenue when qualifying costs are incurred. Final reimbursement from the grant was received in the first quarter of 2024. The Company’s CPRIT grant expired during 2023 and no additional amounts are expected to be recognized or received.	Grants Receivable and Revenue Recognition Salarius’ source of revenue has been from a grant received from CPRIT. Grant revenue is recognized when qualifying costs are incurred and there is reasonable assurance that conditions of the grant have been met. Cash received from grants in advance of incurring qualifying costs is recorded as deferred revenue and recognized as revenue when qualifying costs are incurred. The Company records revenue and a corresponding grants receivable when qualifying costs are incurred before the grants are received. The Company’s CPRIT grant expired during 2023 and no additional amounts are expected to be recognized or received.
Research and Development Costs	Research and Development Costs Research and development costs consist of expenses incurred in performing research and development activities, including pre-clinical studies and clinical trials. Research and development costs include salaries and personnel-related costs, consulting fees, fees paid for contract research services, the costs of laboratory equipment and facilities, license fees and other external costs. Research and development costs are expensed when incurred.	Research and Development Costs Research and development costs consist of expenses incurred in performing research and development activities, including pre-clinical studies and clinical trials. Research and development costs include salaries and personnel-related costs, consulting fees, fees paid for contract research services, the costs of laboratory equipment and facilities, license fees and other external costs. Research and development costs are expensed when incurred. Costs incurred in obtaining IPRD that has no alternative future use are charged to research and development expense as acquired, and presented as investing activity cash outflows on the Statement of Cash Flow.
Equity-Based Compensation	Equity-Based Compensation Salarius measures equity-based compensation based on the grant date fair value of the awards and recognizes the associated expense in the financial statements over the requisite service period of the award, which is generally the vesting period. The Company uses the Black-Scholes option valuation model to estimate the fair value of stock options granted to employees and directors. Assumptions utilized in these models including expected volatility calculated based on implied volatility from traded stocks of peer companies, dividend yield and risk-free interest rate. Additionally, forfeitures are accounted for in compensation cost as they occur. Restricted stock and restricted stock units granted to employees and directors are measured at fair value based upon the closing price of the Company’s common stock on the grant date.	Equity-Based Compensation Salarius measures equity-based compensation based on the grant date fair value of the awards and recognizes the associated expense in the financial statements over the requisite service period of the award, which is generally the vesting period. The Company uses the Black-Scholes option valuation model to estimate the fair value of the stock-based compensation and incentive units. Assumptions utilized in these models include expected volatility calculated based on implied volatility from traded stocks of peer companies, dividend yield and risk-free interest rate. Additionally, forfeitures are accounted for in compensation cost as they occur.
Loss Per Share	Loss Per Share Basic net loss per share is calculated by dividing the net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Since the Company was in a loss position for all periods presented, diluted net loss per share is the same as basic net loss per share for all periods, as the inclusion of all potential common shares outstanding is anti-dilutive.	Loss Per Share Basic net loss per share is calculated by dividing the net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Since the Company was in a loss position for all periods presented, diluted net loss per share is the same as basic net loss per share for all periods, as the inclusion of all potential common shares outstanding is anti-dilutive.
Income Taxes	Income Taxes Income taxes are recorded in accordance with FASB ASC Topic 740, Income Taxes (“ASC 740”), which provides for deferred taxes using an asset and liability approach. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and the tax reporting basis of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. The Company provides a valuation allowance against net deferred tax assets unless, based upon the available evidence, it is more likely than not that the deferred tax assets will be realized. The Company has evaluated available evidence and concluded that the Company may not realize the benefit of its deferred tax assets; therefore, a valuation allowance has been established for the full amount of the deferred tax assets. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. As of September 30, 2024 and December 31, 2023, the Company did not have any significant uncertain tax positions and no interest or penalties have been charged. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company is subject to routine audits by taxing jurisdictions.	Income Taxes Income taxes are recorded in accordance with FASB ASC Topic 740, Income Taxes (“ASC 740”), which provides for deferred taxes using an asset and liability approach. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and the tax reporting basis of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. The Company provides a valuation allowance against net deferred tax assets unless, based upon the available evidence, it is more likely than not that the deferred tax assets will be realized. The Company has evaluated available evidence and concluded that the Company may not realize the benefit of its deferred tax assets; therefore, a valuation allowance has been established for the full amount of the deferred tax assets. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. As of December 31, 2023 and 2022, the Company did not have any significant uncertain tax positions and no interest or penalties have been charged. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company is subject to routine audits by taxing jurisdictions.
Fair Value of Financial Instruments	Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable, are used to measure fair value: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Significant unobservable inputs including Salarius’ own assumptions in determining fair value. The Company believes the recorded values of its financial instruments, including cash and cash equivalents, accounts payable and note payable approximate their fair values due to the short-term nature of these instruments.	Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable, are used to measure fair value: Level 1-Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2-Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3-Significant unobservable inputs including Salarius’ own assumptions in determining fair value. The Company believes the recorded values of its financial instruments, including cash and cash equivalents, accounts payable and note payable approximate their fair values due to the short-term nature of these instruments

STOCKHOLDERS' EQUITY	9 Months Ended	12 Months Ended
STOCKHOLDERS' EQUITY	Sep. 30, 2024	Dec. 31, 2023
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Common Stock - Issuances During the nine months ended September 30, 2024 and September 30, 2023, the Company sold 608,949 and 87,034 shares of common stock in an “at the market offering” (“ATM”) with gross proceeds of $1.7 million and $1.7 million, respectively. On May 11, 2023, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with an accredited investor (the “Investor”), pursuant to which the Company agreed to issue and sell to the Investor in a private placement (the “Offering”) (i) 41,250 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), (ii) pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to 413,296 shares of Common Stock, (iii) Series A-1 warrants (the “Series A-1 Warrants”) to purchase up to 454,546 shares of Common Stock and (iv) Series A-2 warrants (the “Series A-2 Warrants”) and together with the Series A-1 Warrants, the “Common Stock Warrants,” and together with the Pre-Funded Warrants, the “Warrants”) to purchase up to 454,546 shares of Common Stock, at a purchase price of (a) $13.20 per Share and accompanying Common Stock Warrants and (b) $13.1992 per Pre-Funded Warrant and accompanying Common Stock Warrants. The aggregate gross proceeds from the Offering were approximately $6.0 million, exclusive of placement agent fees and expenses and other offering expenses. The Offering closed on May 16, 2023. During the nine months ended September 30, 2024 and September 30, 2023 , the Company issued 340,000 and 73,296 shares of its Common Stock upon the exercise of Pre-Funded Warrants. Warrants Exercisable for Cash The Company has five-year (5) warrants outstanding that were issued in February 2020 and subsequently modified in December 2020 in connection with the issuance of additional inducement warrants. The warrants are exercisable at a price per share of $230.00. The inducement warrants expire on June 11, 2026, and are exercisable at a price per share of $236.40. The Company has five-and-one-half-year (5.5) year warrants outstanding that were issued in April 2022, with an exercise price of $67.98 per share. The warrants became exercisable six months following the issuance date and will expire five and one-half years from the issuance date. The Company’s Series A-1 Warrants are exercisable for a period of five and one-half (5.5) years from the issuance date at an exercise price of $11.20 per share, expiring on November 16, 2028. Series A-2 Warrants expired on November 18, 2024. Each Pre-Funded Warrant was sold in lieu of shares of Common Stock, are exercisable immediately upon issuance, have an exercise price of $0.0008 per share and expire when exercised in full. At September 30, 2024, there were zero Pre- Funded Warrants outstanding. In connection with the above mentioned Offering, the Company issued warrants to representatives to purchase up to 31,818 shares of common stock at an exercise price per share of $16.50 and a term of five and one-half (5.5) years. As of September 30, 2024 and 2023, approximately 1,015,385 and 1,355,600 warrants remain outstanding (0 and 340,000 are Pre-Funded Warrants), respectively. The terms of the outstanding warrants require the Company, upon the consummation of any fundamental transaction to, among other obligations, cause any successor entity resulting from the fundamental transaction to assume the Company’s obligations under the warrants and the associated transaction documents. In addition, holders of warrants are entitled to participate in any fundamental transaction on an as-converted or as-exercised basis, which could result in the holders of the Company’s common stock receiving a lesser portion of the consideration from a fundamental transaction. In addition, certain of our outstanding warrants provide that, in the event of a fundamental transaction that is approved by our board of directors, the holders of such warrants have the option to require us to pay to such holders an amount of cash equal to the Black-Scholes value of the warrants. Such amount could be significantly more than the warrant holders would otherwise receive if they were to exercise their warrants and receive the same consideration as the other holders of common stock, which in turn could reduce the consideration that holders of common stock would be concurrently entitled to receive in such fundamental transaction. The terms of the warrants could also impede the Company’s ability to enter into certain transactions or obtain additional financing in the future.	STOCKHOLDERS’ EQUITY Common Stock Issuances On February 5, 2021, the Company entered into an At the Market Offering Agreement (“ATM”) with Ladenburg Thalmann & Co. Inc. Under this agreement the Company is able to issue and sell, from time to time, shares of its common stock. On February 5, 2021 and July 2, 2021, the Company filed prospectus supplements with the SEC to register the offering and sale of Common Stock having an aggregate offering price of up to $6.3 million and $25.0 million, respectively. During the twelve months ended December 31, 2023, the Company sold 87,034 shares of common stock under the At the Market Offering Agreement with gross proceeds of $1.7 million. On May 11, 2023, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with an accredited investor (the “Investor”), pursuant to which the Company agreed to issue and sell to the Investor in a private placement (the “Offering”) (i) 41,250 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), (ii) pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to 413,296 shares of Common Stock, (iii) Series A-1 warrants (the “Series A-1 Warrants”) to purchase up to 454,546 shares of Common Stock and (iv) Series A-2 warrants (the “Series A-2 Warrants”) and together with the Series A-1 Warrants, the “Common Stock Warrants,” and together with the Pre-Funded Warrants, the “Warrants”) to purchase up to 454,546 shares of Common Stock, at a purchase price of (a) $13.2 per Share and accompanying Common Stock Warrants and (b) $13.1992 per Pre-Funded Warrant and accompanying Common Stock Warrants. The aggregate gross proceeds from the Offering were approximately $6.0 million, exclusive of placement agent fees and expenses and other offering expenses. The Offering closed on May 16, 2023. During the twelve months ended December 31, 2023, the Company issued 73,296 shares of its Common Stock upon the exercise of Pre-Funded Warrants. On January 12, 2022, the Company issued 5,000 shares of the Company’s common stock, valued at $0.5 million to purchase in-process research and development technology SP-3164. On April 22, 2022, the Company entered into a securities purchase agreement with certain institutional and accredited investors for the sale by the Company of approximately 46,697 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) at a purchase price of $50 per share. Concurrently, the Company also sold unregistered warrants exercisable for an aggregate of approximately 35,023 shares of Common Stock, which represents 75% of the shares of Common Stock sold, with an exercise price of $ 67.98 per share. The transaction closed on April 26, 2022 with gross proceeds of $2.3 million before deducting certain fees due to the placement agent and other estimated transaction expenses. Warrants Exercised for Cash The Company has five-year warrants outstanding that were issued in February 2020 and subsequently modified in December 2020 in connection with the issuance of additional inducement warrants. The warrants are exercisable at a price per share of $230. The inducement warrants expire on June 11, 2026, and are exercisable at a price per share of $236.40. The Company has 35,023 warrants outstanding that were issued in April 2022, with an exercise price of $67.98 per share. The warrants were exercisable six months following the issuance date and will expire five and one-half years from the issuance date. During the twelve months ended December 31, 2023 and 2022, no warrants were exercised. In May 2023, the Company issued Series A-1 Warrants that are exercisable for a period of five and one-half (5.5) years from the issuance date at an exercise price of $11.20 per share. Series A-2 Warrants are exercisable for a period of eighteen (18) months from the issuance date at an exercise price of $11.20 per share. Each Pre-Funded Warrant was sold in lieu of shares of Common Stock, are exercisable immediately upon issuance, have an exercise price of $0.0001 per share and expire when exercised in full. During the twelve months ended December 31, 2023, no Series A-1 or A-2 warrants were exercised. In connection with the above mentioned Offering, the Company issued warrants to its exclusive placement agency H.C Wainwright & Co., LLC to purchase up to 31,818 shares of common stock at an exercise price per share of $16.50 and a term of five and one-half (5.5) years. During the twelve months ended December 31, 2023, no warrants were exercised. As of December 31, 2023 and 2022, approximately 1,355,598 (340,000 are Pre-Funded Warrants) and 74,689 warrants remain outstanding, respectively. The terms of the outstanding warrants require the Company, upon the consummation of any fundamental transaction to, among other obligations, cause any successor entity resulting from the fundamental transaction to assume the Company’s obligations under the warrants and the associated transaction documents. In addition, holders of warrants are entitled to participate in any fundamental transaction on an as-converted or as-exercised basis, which could result in the holders of the Company’s common stock receiving a lesser portion of the consideration from a fundamental transaction. The terms of the warrants could also impede the Company’s ability to enter into certain transactions or obtain additional financing in the future.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2023	Sep. 30, 2024	Dec. 31, 2011
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Award amount	$ 18.7	$ 16.1
Continued payments, percent of net sales		1.00%	1.00%
University of Utah Research Foundation
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by noncontrolling owner				2.00%

ORGANIZATION AND OPERATIONS (Details) - $ / shares	Sep. 30, 2024	Jun. 14, 2024	Dec. 31, 2023	Dec. 31, 2022	Oct. 14, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical)	Jun. 14, 2024	Oct. 14, 2022
Income Statement [Abstract]
Conversion ratio	0.125	0.04

EQUITY-BASED COMPENSATION (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Fair Value Assumptions

The fair value of the option grants awarded during the nine - month period ended September 30, 2024 was $0.1 million, which has been estimated with the following assumptions on the grant date.


	Nine Months Ended September 30 2024
Risk-free interest rate	4.25%-4.61%
Volatility	106.07% - 123.31%
Expected life (years)	5.00-6.00
Expected dividend yield	0	%

The fair value of the option grants of $0.5 million has been estimated with the following assumptions for the year ended December 31, 2022:


	2022
Risk-free interest rate	1.62%-1.70%
Volatility	125.19% - 126.42%
Expected life (years)	5 -6 years
Expected dividend yield	0.00	%

Summary of Stock Option Activity

The following table summarizes stock option activity for employees and non-employees for the nine months ended September 30, 2024 and 2023:


	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)
Outstanding at December 31, 2022	13,391	$	189.36	8.29
Granted	—
Exercised	—
Forfeited	—
Expired	—
Outstanding at September 30, 2023	13,391	$	189.36	7.54
Exercisable at September 30, 2023	8,893	$	226.40	7.36

Outstanding at December 31, 2023	11,164	$	190.24	7.26
Granted	21,125	$	3.02
Exercised	—
Forfeited	735
Expired	—
Outstanding at September 30, 2024	31,554	$	66.75	8.45
Exercisable at September 30, 2024	9,086	$	206.48	6.41

The following table summarizes stock option activity for employees and non-employees for the twelve months ended December 31, 2023 and 2022:


	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)
Outstanding at December 31, 2021	7,990	$	550	8.50
Granted	6,420	88
Exercised	—	—
Forfeited	(847)	—
Expired	(172)	—
Outstanding at December 31, 2022	13,391	$	189	8.29
Exercisable at December 31, 2022	4,763	$	287	7.63

Granted	—	$	—
Exercised	—
Forfeited	(2,228)
Expired	—
Outstanding at December 31, 2023	11,163	$	190	7.26
Exercisable at December 31, 2023	8,448	$	212	7.13

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)

Total

Common Stock (1)

Additional Paid-In Capital

Accumulated Deficit

Beginning balance (in shares) at Dec. 31, 2021

^[1]

226,199

Beginning balance at Dec. 31, 2021

$ 38,722,985

$ 23

^[1]

$ 70,920,154

$ (32,197,192)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[1]

46,697

Issuance of equity securities, net

1,984,876

$ 5

^[1]

1,984,871

Equity-based compensation (in shares)

^[1]

3,491

Equity-based compensation expense

768,255

Net loss

(31,607,956)

Ending balance (in shares) at Dec. 31, 2022

^[1],[2]

281,987

Ending balance at Dec. 31, 2022

10,384,608

$ 28

^[1],[2]

74,189,728

(63,805,148)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[2]

17,812

Issuance of equity securities, net

311,681

$ 2

^[2]

311,679

Equity-based compensation (in shares)

^[2]

8,737

Equity-based compensation expense

203,345

$ 1

^[2]

203,344

Net loss

(5,340,773)

Ending balance (in shares) at Mar. 31, 2023

^[2]

308,536

Ending balance at Mar. 31, 2023

5,558,861

$ 31

^[2]

74,704,751

(69,145,921)

Beginning balance (in shares) at Dec. 31, 2022

^[1],[2]

281,987

Beginning balance at Dec. 31, 2022

10,384,608

$ 28

^[1],[2]

74,189,728

(63,805,148)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net loss

(11,660,897)

Ending balance (in shares) at Sep. 30, 2023

^[2]

492,304

Ending balance at Sep. 30, 2023

6,083,703

$ 49

^[2]

81,549,699

(75,466,045)

Beginning balance (in shares) at Dec. 31, 2022

^[1],[2]

281,987

Beginning balance at Dec. 31, 2022

10,384,608

$ 28

^[1],[2]

74,189,728

(63,805,148)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[1]

201,580

Issuance of equity securities, net

6,920,529

$ 20

^[1]

6,920,509

Equity-based compensation (in shares)

^[1]

8,737

Equity-based compensation expense

524,838

$ 1

^[1]

524,837

Net loss

$ (12,542,693)

(12,542,693)

Ending balance (in shares) at Dec. 31, 2023

492,304

^[1],[2]

Ending balance at Dec. 31, 2023

$ 5,287,282

$ 49

^[1],[2]

81,635,074

(76,347,841)

Beginning balance (in shares) at Mar. 31, 2023

^[2]

308,536

Beginning balance at Mar. 31, 2023

5,558,861

$ 31

^[2]

74,704,751

(69,145,921)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[2]

110,472

Issuance of equity securities, net

6,608,790

$ 11

^[2]

6,608,779

Equity-based compensation expense

123,459

Net loss

(3,877,308)

Ending balance (in shares) at Jun. 30, 2023

^[2]

419,008

Ending balance at Jun. 30, 2023

8,413,802

$ 42

^[2]

81,436,989

(73,023,229)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[2]

73,296

Issuance of equity securities, net

$ 7

^[2]

Equity-based compensation expense

112,658

Net loss

(2,442,816)

Ending balance (in shares) at Sep. 30, 2023

^[2]

492,304

Ending balance at Sep. 30, 2023

$ 6,083,703

$ 49

^[2]

81,549,699

(75,466,045)

Beginning balance (in shares) at Dec. 31, 2023

492,304

^[1],[2]

Beginning balance at Dec. 31, 2023

$ 5,287,282

$ 49

^[1],[2]

81,635,074

(76,347,841)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[2]

47,000

Issuance of equity securities, net

$ 5

^[2]

Equity-based compensation expense

77,508

Net loss

(1,715,290)

Ending balance (in shares) at Mar. 31, 2024

^[2]

539,304

Ending balance at Mar. 31, 2024

$ 3,649,538

$ 54

^[2]

81,712,615

(78,063,131)

Beginning balance (in shares) at Dec. 31, 2023

492,304

^[1],[2]

Beginning balance at Dec. 31, 2023

$ 5,287,282

$ 49

^[1],[2]

81,635,074

(76,347,841)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net loss

$ (4,111,844)

Ending balance (in shares) at Sep. 30, 2024

1,441,157

^[2]

Ending balance at Sep. 30, 2024

$ 2,924,583

$ 144

^[2]

83,384,124

(80,459,685)

Beginning balance (in shares) at Mar. 31, 2024

^[2]

539,304

Beginning balance at Mar. 31, 2024

3,649,538

$ 54

^[2]

81,712,615

(78,063,131)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[2]

101,873

Issuance of equity securities, net

65,080

$ 10

^[2]

65,070

Equity-based compensation expense

85,168

Net loss

(1,424,433)

Ending balance (in shares) at Jun. 30, 2024

^[2]

641,177

Ending balance at Jun. 30, 2024

2,375,353

$ 64

^[2]

81,862,853

(79,487,564)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[2]

799,980

Issuance of equity securities, net

1,461,342

$ 80

^[2]

1,461,262

Equity-based compensation expense

60,009

Net loss

$ (972,121)

(972,121)

Ending balance (in shares) at Sep. 30, 2024

1,441,157

^[2]

Ending balance at Sep. 30, 2024

$ 2,924,583

$ 144

^[2]

$ 83,384,124

$ (80,459,685)

[1]	Share and per share amounts have been recast to reflect the 1-for-8 reverse stock split effected in June 14, 2024 on retroactive basis for all periods presented.
[2]	Share and per share amounts have been restated to reflect the 1-for-8 reverse stock split effected in June 14, 2024 on retroactive basis for all periods presented.

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
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+ Details

- Definition

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the federal statutory tax rate and the effective tax rates for the year ended December 31, 2023 and 2022 is as follows:


	December 31
	2023		2022
Federal Tax at Statutory Rate	21.00	%	21.00	%
Permanent	(0.89)	%	(6.25)	%
Change in Valuation Allowance	(22.77)	%	(21.73)	%
True Ups	—	%	(0.06)	%
R&D Credit	2.66	%	7.04	%

Effective Tax Rate	—	%	—	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets were as follows:


	December 31
	2023		2022
Capitalized R&D Expenses	$	5,610,221	$	5,199,721
Other Deferred Items	44,193		145,935
Stock Compensation	455,192		484,205
Net Operating Loss - US	6,161,916		3,919,323
R&D Credits	3,627,377		3,293,572
Net deferred tax assets	15,898,899		13,042,756

Valuation Allowance	(15,898,899)		(13,042,756)
Net deferred tax assets (liabilities)	$	—	$	—

GRANT RECEIVABLE FROM CPRIT (Details) - USD ($)		1 Months Ended	9 Months Ended		12 Months Ended
GRANT RECEIVABLE FROM CPRIT (Details) - USD ($)	Feb. 15, 2023	Jun. 30, 2016	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Grants receivable from CPRIT					$ 0	$ 1,610,490
Award amount		$ 18,700,000			16,100,000
Grant
Accounts, Notes, Loans and Financing Receivable [Line Items]
Grants receivable from CPRIT					0	$ 1,600,000
Award amount	$ 1,500,000
Grant \| CPRIT
Accounts, Notes, Loans and Financing Receivable [Line Items]
Grants receivable from CPRIT			$ 0		$ 0
Award amount			100,000	$ 1,500,000
Grants received			$ 16,100,000

EQUITY-BASED COMPENSATION (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Fair Value Assumptions

The fair value of the option grants awarded during the nine - month period ended September 30, 2024 was $0.1 million, which has been estimated with the following assumptions on the grant date.


	Nine Months Ended September 30 2024
Risk-free interest rate	4.25%-4.61%
Volatility	106.07% - 123.31%
Expected life (years)	5.00-6.00
Expected dividend yield	0	%

The fair value of the option grants of $0.5 million has been estimated with the following assumptions for the year ended December 31, 2022:


	2022
Risk-free interest rate	1.62%-1.70%
Volatility	125.19% - 126.42%
Expected life (years)	5 -6 years
Expected dividend yield	0.00	%

Summary of Stock Option Activity

The following table summarizes stock option activity for employees and non-employees for the nine months ended September 30, 2024 and 2023:


	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)
Outstanding at December 31, 2022	13,391	$	189.36	8.29
Granted	—
Exercised	—
Forfeited	—
Expired	—
Outstanding at September 30, 2023	13,391	$	189.36	7.54
Exercisable at September 30, 2023	8,893	$	226.40	7.36

Outstanding at December 31, 2023	11,164	$	190.24	7.26
Granted	21,125	$	3.02
Exercised	—
Forfeited	735
Expired	—
Outstanding at September 30, 2024	31,554	$	66.75	8.45
Exercisable at September 30, 2024	9,086	$	206.48	6.41

The following table summarizes stock option activity for employees and non-employees for the twelve months ended December 31, 2023 and 2022:


	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)
Outstanding at December 31, 2021	7,990	$	550	8.50
Granted	6,420	88
Exercised	—	—
Forfeited	(847)	—
Expired	(172)	—
Outstanding at December 31, 2022	13,391	$	189	8.29
Exercisable at December 31, 2022	4,763	$	287	7.63

Granted	—	$	—
Exercised	—
Forfeited	(2,228)
Expired	—
Outstanding at December 31, 2023	11,163	$	190	7.26
Exercisable at December 31, 2023	8,448	$	212	7.13

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) - shares	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Antidilutive securities excluded from computation of earnings per share (shares)	1,047,070	1,370,516	1,366,892	88,080

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Net loss	$ (4,111,844)	$ (11,660,897)	$ (12,542,693)	$ (31,607,956)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,318	8,946	10,051	6,677
Equity-based compensation expense	222,685	439,462	524,838	796,803
Grant receivable writeoff	0	130,000	130,000
Changes in operating assets and liabilities:
Grants receivable	0	1,480,490	1,480,490	0
Prepaid expenses and other current assets	506,888	671,848	807,770	202,538
Accounts payable	(437,052)	(1,769,690)	(2,255,477)	1,312,735
Accrued expenses and other current liabilities	33,186	(635,067)	(1,001,116)	854,527
Net cash (used in) operating activities	(3,782,819)	(11,334,908)	(12,846,137)	(17,595,321)
Financing activities
Proceeds from issuance of equity securities	1,526,460	6,920,530	6,920,529	1,987,376
Payments on note payable	(359,522)	(111,469)	(280,917)	0
Net cash provided by financing activities	1,166,938	6,809,061	6,639,612	1,987,376
Net decrease in cash, cash equivalents and restricted cash	(2,615,881)	(4,525,847)	(6,206,525)	(17,107,945)
Cash, cash equivalents and restricted cash at beginning of period	5,899,910	12,106,435	12,106,435	29,214,380
Cash, cash equivalents and restricted cash at end of period	3,284,029	7,580,588	5,899,910	12,106,435
Non-cash investing and financing activities:
Cash paid for interest	12,064	6,799	14,754	0
Accrued cost for shares issued for cash	0	0		2,500
Insurance premium financed by note payable	$ 398,728	$ 570,560	$ 570,560

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On March 15, 2024, the Company filed a preliminary proxy statement with the SEC in connection with a special meeting of stockholders will be held on May 9, 2024. The business for the meeting is to consider and vote to approve an amendment to the Company’s Certificate of Incorporation to effect a reverse stock split of the Company’s outstanding shares of common stock at a ratio in the rage of 1:4 to 1:8.

INCOME TAX - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Capitalized R&D Expenses	$ 5,610,221	$ 5,199,721
Other Deferred Items	44,193	145,935
Stock Compensation	455,192	484,205
Net Operating Loss - US	6,161,916	3,919,323
R&D Credits	3,627,377	3,293,572
Net deferred tax assets	15,898,899	13,042,756
Valuation Allowance	(15,898,899)	(13,042,756)
Net deferred tax assets (liabilities)	$ 0	$ 0

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Operating expenses:

Research and development

$ 7,173,747

$ 15,836,828

General and administrative

5,721,197

7,138,403

Loss on impairment of goodwill

8,865,909

Total operating expenses

12,894,944

31,841,140

Loss before other income (expense)

(12,894,944)

(31,841,140)

Change in fair value of warrant liability

14,454

Interest income

352,251

218,730

Net loss

(12,542,693)

(31,607,956)

Loss attributable to common stockholders

$ (12,542,693)

$ (31,607,956)

Loss per common share, basic (in dollars per share)

^[1]

$ (30.74)

$ (119.02)

Loss per common share, diluted (in dollars per share)

^[1]

(30.74)

(119.02)

Total net loss per share (in dollars per share)

^[1]

$ (30.74)

$ (119.02)

Weighted average number of shares outstanding, basic (in shares)

408,078

265,564

Weighted average number of shares outstanding, diluted (in shares)

408,078

265,564

[1]	Share and per share amounts have been recast to reflect the 1-for-8 reverse stock split effected on June 14, 2024 on retroactive basis for all periods presented.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Operating expenses:

Research and development

$ 137,234

$ 1,036,354

$ 594,683

$ 7,113,794

General and administrative

869,237

1,495,831

3,650,920

4,810,449

Total operating expenses

1,006,471

2,532,185

4,245,603

11,924,243

Loss before other income (expense)

(1,006,471)

(2,532,185)

(4,245,603)

(11,924,243)

Interest income

34,350

89,369

133,759

263,346

Loss from continuing operations

(972,121)

(2,442,816)

(4,111,844)

(11,660,897)

Net loss

$ (972,121)

$ (2,442,816)

$ (4,111,844)

$ (11,660,897)

Loss per common share, basic (in dollars per share)

^[1]

$ (0.76)

$ (5.21)

$ (5.13)

$ (30.71)

Loss per common share, diluted (in dollars per share)

^[1]

$ (0.76)

$ (5.21)

$ (5.13)

$ (30.71)

Weighted average number of shares outstanding, basic (in shares)

^[1]

1,281,869

469,254

801,395

379,693

Weighted average number of shares outstanding, diluted (in shares)

^[1]

1,281,869

469,254

801,395

379,693

[1]	Share and per share amounts have been restated to reflect the 1-for-8 reverse stock split effected in June 14, 2024 on retroactive basis for all periods presented.

COVER PAGE	12 Months Ended
COVER PAGE	Dec. 31, 2023
Cover [Abstract]
Document Type	S-1
Entity Registrant Name	SALARIUS PHARMACEUTICALS, INC.
Entity Incorporation, State or Country Code	DE
Entity Primary SIC Number	2834
Entity Tax Identification Number	46-5087339
Entity Address, Address Line One	2450 Holcombe Blvd.
Entity Address, Address Line Two	Suite X
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77021
City Area Code	713
Local Phone Number	913-5608
Contact Personnel Name	David J. Arthur
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Amendment Flag	false
Central Index Key	0001615219

PREPAID EXPENSES AND OTHER CURRENT ASSETS

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets at September 30, 2024 and December 31, 2023 consisted of the following:


	September 30, 2024		December 31, 2023
Insurance	$	419,602	$	468,495

Other prepaid and current assets	119,015		151,268
Total prepaid expenses and other current assets	$	538,617	$	619,763

Insurance is mainly comprised of prepaid directors’ and officers’ insurance. In July 2024, the Company financed its directors and officers’ insurance premium with a short term note, the principal amount of which is approximately $0.4 million bearing interest at a rate of 9.74%. The note payable balance, which was included within Current Liabilities on the Condensed Consolidated Balance Sheet was $0.3 million at both September 30, 2024 and December 31, 2023.

PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets at December 31, 2023 and 2022 consisted of the following:


	December 31,
	2023		2022
Prepaid clinical trial expenses	$	—	$	11,185
Prepaid insurance	468,495		624,612

Other prepaid and current assets	151,268		167,576
Total prepaid expenses and other current assets	$	619,763	$	803,373

Prepaid insurance is mainly comprised of prepaid directors’ and officers’ insurance. In July 2023, the Company financed its directors and officers’ insurance premium with a short term note the principal amount of which is approximately $0.6 million bearing interest at a rate of 7.87%. The note payable balance, which was included within Current Liabilities on the Consolidated Balance Sheet was $ 0.3 million as of December 31, 2023.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)

Total

Common Stock (1)

Additional Paid-In Capital

Accumulated Deficit

Beginning balance (in shares) at Dec. 31, 2021

^[1]

226,199

Beginning balance at Dec. 31, 2021

$ 38,722,985

$ 23

^[1]

$ 70,920,154

$ (32,197,192)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Common stock issued for in-process research and development technology (in shares)

^[1]

5,000

Common Stock issued for in-process research and development technology

487,900

Issuance of equity securities, net (in shares)

^[1]

46,697

Issuance of equity securities, net

1,984,876

$ 5

^[1]

1,984,871

Equity-based compensation and services expense (in shares)

^[1]

3,491

Equity-based compensation expense

768,255

Issuance of equity securities for services (in shares)

^[1]

600

Issuance of equity securities for services

28,548

Net loss

(31,607,956)

Ending balance (in shares) at Dec. 31, 2022

^[1],[2]

281,987

Ending balance at Dec. 31, 2022

10,384,608

$ 28

^[1],[2]

74,189,728

(63,805,148)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[2]

17,812

Issuance of equity securities, net

311,681

$ 2

^[2]

311,679

Equity-based compensation and services expense (in shares)

^[2]

8,737

Equity-based compensation expense

203,345

$ 1

^[2]

203,344

Net loss

(5,340,773)

Ending balance (in shares) at Mar. 31, 2023

^[2]

308,536

Ending balance at Mar. 31, 2023

5,558,861

$ 31

^[2]

74,704,751

(69,145,921)

Beginning balance (in shares) at Dec. 31, 2022

^[1],[2]

281,987

Beginning balance at Dec. 31, 2022

10,384,608

$ 28

^[1],[2]

74,189,728

(63,805,148)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net loss

(11,660,897)

Ending balance (in shares) at Sep. 30, 2023

^[2]

492,304

Ending balance at Sep. 30, 2023

6,083,703

$ 49

^[2]

81,549,699

(75,466,045)

Beginning balance (in shares) at Dec. 31, 2022

^[1],[2]

281,987

Beginning balance at Dec. 31, 2022

10,384,608

$ 28

^[1],[2]

74,189,728

(63,805,148)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[1]

201,580

Issuance of equity securities, net

6,920,529

$ 20

^[1]

6,920,509

Equity-based compensation and services expense (in shares)

^[1]

8,737

Equity-based compensation expense

524,838

$ 1

^[1]

524,837

Net loss

$ (12,542,693)

(12,542,693)

Ending balance (in shares) at Dec. 31, 2023

492,304

^[1],[2]

Ending balance at Dec. 31, 2023

$ 5,287,282

$ 49

^[1],[2]

81,635,074

(76,347,841)

Beginning balance (in shares) at Mar. 31, 2023

^[2]

308,536

Beginning balance at Mar. 31, 2023

5,558,861

$ 31

^[2]

74,704,751

(69,145,921)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[2]

110,472

Issuance of equity securities, net

6,608,790

$ 11

^[2]

6,608,779

Equity-based compensation expense

123,459

Net loss

(3,877,308)

Ending balance (in shares) at Jun. 30, 2023

^[2]

419,008

Ending balance at Jun. 30, 2023

8,413,802

$ 42

^[2]

81,436,989

(73,023,229)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[2]

73,296

Issuance of equity securities, net

$ 7

^[2]

Equity-based compensation expense

112,658

Net loss

(2,442,816)

Ending balance (in shares) at Sep. 30, 2023

^[2]

492,304

Ending balance at Sep. 30, 2023

$ 6,083,703

$ 49

^[2]

81,549,699

(75,466,045)

Beginning balance (in shares) at Dec. 31, 2023

492,304

^[1],[2]

Beginning balance at Dec. 31, 2023

$ 5,287,282

$ 49

^[1],[2]

81,635,074

(76,347,841)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[2]

47,000

Issuance of equity securities, net

$ 5

^[2]

Equity-based compensation expense

77,508

Net loss

(1,715,290)

Ending balance (in shares) at Mar. 31, 2024

^[2]

539,304

Ending balance at Mar. 31, 2024

$ 3,649,538

$ 54

^[2]

81,712,615

(78,063,131)

Beginning balance (in shares) at Dec. 31, 2023

492,304

^[1],[2]

Beginning balance at Dec. 31, 2023

$ 5,287,282

$ 49

^[1],[2]

81,635,074

(76,347,841)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net loss

$ (4,111,844)

Ending balance (in shares) at Sep. 30, 2024

1,441,157

^[2]

Ending balance at Sep. 30, 2024

$ 2,924,583

$ 144

^[2]

83,384,124

(80,459,685)

Beginning balance (in shares) at Mar. 31, 2024

^[2]

539,304

Beginning balance at Mar. 31, 2024

3,649,538

$ 54

^[2]

81,712,615

(78,063,131)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[2]

101,873

Issuance of equity securities, net

65,080

$ 10

^[2]

65,070

Equity-based compensation expense

85,168

Net loss

(1,424,433)

Ending balance (in shares) at Jun. 30, 2024

^[2]

641,177

Ending balance at Jun. 30, 2024

2,375,353

$ 64

^[2]

81,862,853

(79,487,564)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of equity securities, net (in shares)

^[2]

799,980

Issuance of equity securities, net

1,461,342

$ 80

^[2]

1,461,262

Equity-based compensation expense

60,009

Net loss

$ (972,121)

(972,121)

Ending balance (in shares) at Sep. 30, 2024

1,441,157

^[2]

Ending balance at Sep. 30, 2024

$ 2,924,583

$ 144

^[2]

$ 83,384,124

$ (80,459,685)

[1]	Share and per share amounts have been recast to reflect the 1-for-8 reverse stock split effected in June 14, 2024 on retroactive basis for all periods presented.
[2]	Share and per share amounts have been restated to reflect the 1-for-8 reverse stock split effected in June 14, 2024 on retroactive basis for all periods presented.

INCOME TAX

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAX

The Company has no current or deferred tax expense due to its current year loss and its overall net operating loss position. A reconciliation of the federal statutory tax rate and the effective tax rates for the year ended December 31, 2023 and 2022 is as follows:


	December 31
	2023		2022
Federal Tax at Statutory Rate	21.00	%	21.00	%
Permanent	(0.89)	%	(6.25)	%
Change in Valuation Allowance	(22.77)	%	(21.73)	%
True Ups	—	%	(0.06)	%
R&D Credit	2.66	%	7.04	%

Effective Tax Rate	—	%	—	%

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets were as follows:


	December 31
	2023		2022
Capitalized R&D Expenses	$	5,610,221	$	5,199,721
Other Deferred Items	44,193		145,935
Stock Compensation	455,192		484,205
Net Operating Loss - US	6,161,916		3,919,323
R&D Credits	3,627,377		3,293,572
Net deferred tax assets	15,898,899		13,042,756

Valuation Allowance	(15,898,899)		(13,042,756)
Net deferred tax assets (liabilities)	$	—	$	—

The valuation allowance recorded by the Company as of December 31, 2023 and December 31, 2022 resulted from the uncertainties of the future utilization of deferred tax assets relating from NOL carry forwards for federal and state income tax purposes. Realization of the NOL carry forwards is contingent on future taxable earnings. The deferred tax asset was reviewed for expected utilization using a “more likely than not” approach by assessing the available positive and negative evidence surrounding its recoverability. Accordingly, a full valuation allowance continues to be recorded against the Company’s deferred tax asset, as it was determined based upon past and projected future losses that it was “more likely than not” that the Company’s deferred tax assets would not be realized. In future years, if the deferred tax assets are determined by management to be “more likely than not” to be realized, the recognized tax benefits relating to the reversal of the valuation allowance will be recorded. The Company will continue to assess and evaluate strategies that will enable the deferred tax asset, or portion thereof, to be utilized, and will reduce the valuation allowance appropriately as such time when it is determined that the “more likely than not” criteria is satisfied.

The federal net operating loss carryforwards of $29.3 million have an indefinite life, but the R&D credits of $3.4 million begin to expire in 2039. Due to the change in ownership provisions of the Internal Revenue Code, the availability of the Company’s net operating loss carry forwards could be subject to annual limitations against taxable income in future periods, which could substantially limit the eventual utilization of such carry forwards. The Company has not analyzed the historical or potential impact of its equity financings on beneficial ownership and therefore no determination has been made whether the net operating loss carry forward is subject to any Internal

Revenue Code Section 382 limitation. To the extent there is a limitation, there could be a reduction in the deferred tax asset with an offsetting reduction in the valuation allowance.

Tax positions taken or expected to be taken in the course of preparing the Company’s tax returns are required to be evaluated to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet a more-likely-than-not threshold, as well as accrued interest and penalties, if any, would be recorded as a interest and penalties expense in the current year. There were no uncertain tax positions that require accrual or disclosure to the financial statements as of December 31, 2023.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
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-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

STOCKHOLDERS' EQUITY	9 Months Ended	12 Months Ended
STOCKHOLDERS' EQUITY	Sep. 30, 2024	Dec. 31, 2023
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Common Stock - Issuances During the nine months ended September 30, 2024 and September 30, 2023, the Company sold 608,949 and 87,034 shares of common stock in an “at the market offering” (“ATM”) with gross proceeds of $1.7 million and $1.7 million, respectively. On May 11, 2023, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with an accredited investor (the “Investor”), pursuant to which the Company agreed to issue and sell to the Investor in a private placement (the “Offering”) (i) 41,250 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), (ii) pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to 413,296 shares of Common Stock, (iii) Series A-1 warrants (the “Series A-1 Warrants”) to purchase up to 454,546 shares of Common Stock and (iv) Series A-2 warrants (the “Series A-2 Warrants”) and together with the Series A-1 Warrants, the “Common Stock Warrants,” and together with the Pre-Funded Warrants, the “Warrants”) to purchase up to 454,546 shares of Common Stock, at a purchase price of (a) $13.20 per Share and accompanying Common Stock Warrants and (b) $13.1992 per Pre-Funded Warrant and accompanying Common Stock Warrants. The aggregate gross proceeds from the Offering were approximately $6.0 million, exclusive of placement agent fees and expenses and other offering expenses. The Offering closed on May 16, 2023. During the nine months ended September 30, 2024 and September 30, 2023 , the Company issued 340,000 and 73,296 shares of its Common Stock upon the exercise of Pre-Funded Warrants. Warrants Exercisable for Cash The Company has five-year (5) warrants outstanding that were issued in February 2020 and subsequently modified in December 2020 in connection with the issuance of additional inducement warrants. The warrants are exercisable at a price per share of $230.00. The inducement warrants expire on June 11, 2026, and are exercisable at a price per share of $236.40. The Company has five-and-one-half-year (5.5) year warrants outstanding that were issued in April 2022, with an exercise price of $67.98 per share. The warrants became exercisable six months following the issuance date and will expire five and one-half years from the issuance date. The Company’s Series A-1 Warrants are exercisable for a period of five and one-half (5.5) years from the issuance date at an exercise price of $11.20 per share, expiring on November 16, 2028. Series A-2 Warrants expired on November 18, 2024. Each Pre-Funded Warrant was sold in lieu of shares of Common Stock, are exercisable immediately upon issuance, have an exercise price of $0.0008 per share and expire when exercised in full. At September 30, 2024, there were zero Pre- Funded Warrants outstanding. In connection with the above mentioned Offering, the Company issued warrants to representatives to purchase up to 31,818 shares of common stock at an exercise price per share of $16.50 and a term of five and one-half (5.5) years. As of September 30, 2024 and 2023, approximately 1,015,385 and 1,355,600 warrants remain outstanding (0 and 340,000 are Pre-Funded Warrants), respectively. The terms of the outstanding warrants require the Company, upon the consummation of any fundamental transaction to, among other obligations, cause any successor entity resulting from the fundamental transaction to assume the Company’s obligations under the warrants and the associated transaction documents. In addition, holders of warrants are entitled to participate in any fundamental transaction on an as-converted or as-exercised basis, which could result in the holders of the Company’s common stock receiving a lesser portion of the consideration from a fundamental transaction. In addition, certain of our outstanding warrants provide that, in the event of a fundamental transaction that is approved by our board of directors, the holders of such warrants have the option to require us to pay to such holders an amount of cash equal to the Black-Scholes value of the warrants. Such amount could be significantly more than the warrant holders would otherwise receive if they were to exercise their warrants and receive the same consideration as the other holders of common stock, which in turn could reduce the consideration that holders of common stock would be concurrently entitled to receive in such fundamental transaction. The terms of the warrants could also impede the Company’s ability to enter into certain transactions or obtain additional financing in the future.	STOCKHOLDERS’ EQUITY Common Stock Issuances On February 5, 2021, the Company entered into an At the Market Offering Agreement (“ATM”) with Ladenburg Thalmann & Co. Inc. Under this agreement the Company is able to issue and sell, from time to time, shares of its common stock. On February 5, 2021 and July 2, 2021, the Company filed prospectus supplements with the SEC to register the offering and sale of Common Stock having an aggregate offering price of up to $6.3 million and $25.0 million, respectively. During the twelve months ended December 31, 2023, the Company sold 87,034 shares of common stock under the At the Market Offering Agreement with gross proceeds of $1.7 million. On May 11, 2023, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with an accredited investor (the “Investor”), pursuant to which the Company agreed to issue and sell to the Investor in a private placement (the “Offering”) (i) 41,250 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), (ii) pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to 413,296 shares of Common Stock, (iii) Series A-1 warrants (the “Series A-1 Warrants”) to purchase up to 454,546 shares of Common Stock and (iv) Series A-2 warrants (the “Series A-2 Warrants”) and together with the Series A-1 Warrants, the “Common Stock Warrants,” and together with the Pre-Funded Warrants, the “Warrants”) to purchase up to 454,546 shares of Common Stock, at a purchase price of (a) $13.2 per Share and accompanying Common Stock Warrants and (b) $13.1992 per Pre-Funded Warrant and accompanying Common Stock Warrants. The aggregate gross proceeds from the Offering were approximately $6.0 million, exclusive of placement agent fees and expenses and other offering expenses. The Offering closed on May 16, 2023. During the twelve months ended December 31, 2023, the Company issued 73,296 shares of its Common Stock upon the exercise of Pre-Funded Warrants. On January 12, 2022, the Company issued 5,000 shares of the Company’s common stock, valued at $0.5 million to purchase in-process research and development technology SP-3164. On April 22, 2022, the Company entered into a securities purchase agreement with certain institutional and accredited investors for the sale by the Company of approximately 46,697 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) at a purchase price of $50 per share. Concurrently, the Company also sold unregistered warrants exercisable for an aggregate of approximately 35,023 shares of Common Stock, which represents 75% of the shares of Common Stock sold, with an exercise price of $ 67.98 per share. The transaction closed on April 26, 2022 with gross proceeds of $2.3 million before deducting certain fees due to the placement agent and other estimated transaction expenses. Warrants Exercised for Cash The Company has five-year warrants outstanding that were issued in February 2020 and subsequently modified in December 2020 in connection with the issuance of additional inducement warrants. The warrants are exercisable at a price per share of $230. The inducement warrants expire on June 11, 2026, and are exercisable at a price per share of $236.40. The Company has 35,023 warrants outstanding that were issued in April 2022, with an exercise price of $67.98 per share. The warrants were exercisable six months following the issuance date and will expire five and one-half years from the issuance date. During the twelve months ended December 31, 2023 and 2022, no warrants were exercised. In May 2023, the Company issued Series A-1 Warrants that are exercisable for a period of five and one-half (5.5) years from the issuance date at an exercise price of $11.20 per share. Series A-2 Warrants are exercisable for a period of eighteen (18) months from the issuance date at an exercise price of $11.20 per share. Each Pre-Funded Warrant was sold in lieu of shares of Common Stock, are exercisable immediately upon issuance, have an exercise price of $0.0001 per share and expire when exercised in full. During the twelve months ended December 31, 2023, no Series A-1 or A-2 warrants were exercised. In connection with the above mentioned Offering, the Company issued warrants to its exclusive placement agency H.C Wainwright & Co., LLC to purchase up to 31,818 shares of common stock at an exercise price per share of $16.50 and a term of five and one-half (5.5) years. During the twelve months ended December 31, 2023, no warrants were exercised. As of December 31, 2023 and 2022, approximately 1,355,598 (340,000 are Pre-Funded Warrants) and 74,689 warrants remain outstanding, respectively. The terms of the outstanding warrants require the Company, upon the consummation of any fundamental transaction to, among other obligations, cause any successor entity resulting from the fundamental transaction to assume the Company’s obligations under the warrants and the associated transaction documents. In addition, holders of warrants are entitled to participate in any fundamental transaction on an as-converted or as-exercised basis, which could result in the holders of the Company’s common stock receiving a lesser portion of the consideration from a fundamental transaction. The terms of the warrants could also impede the Company’s ability to enter into certain transactions or obtain additional financing in the future.

- Definition

The entire disclosure for equity.

+ References

+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)

Sep. 30, 2024

Jun. 30, 2024

Mar. 31, 2024

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Current assets:

Cash and cash equivalents

$ 3,284,029

$ 5,899,910

$ 12,106,435

Prepaid expenses and other current assets

538,617

619,763

803,373

Total current assets

3,822,646

6,519,673

14,520,298

Other assets

36,518

66,850

130,501

Total assets

3,859,164

6,586,523

14,650,799

Current liabilities:

Accounts payable

165,801

602,853

2,858,330

Accrued expenses and other current liabilities

439,931

406,745

1,407,861

Notes payable

328,849

289,643

Total liabilities

934,581

1,299,241

4,266,191

Commitments and contingencies (NOTE 5)

Stockholders’ equity (deficit):

Preferred stock, $0.0001 par value; 10,000,000 shares authorized; none issued or outstanding

Common stock, $0.0001 par value; 100,000,000 shares authorized; 492,304 and 281,987shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively(1)

144

^[1]

Additional paid-in capital

83,384,124

81,635,074

74,189,728

Accumulated deficit

(80,459,685)

(76,347,841)

(63,805,148)

Total stockholders’ equity

2,924,583

$ 2,375,353

$ 3,649,538

5,287,282

$ 6,083,703

$ 8,413,802

$ 5,558,861

10,384,608

$ 38,722,985

Total liabilities and stockholders’ equity

$ 3,859,164

$ 6,586,523

$ 14,650,799

[1]	Share and per share amounts have been recast to reflect the 1-for-8 reverse stock split effected on June 14, 2024 on retroactive basis for all periods presented.

EQUITY-BASED COMPENSATION

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

EQUITY-BASED COMPENSATION

Equity Incentive Plans

and other stock-based awards. Additionally, the 2015 Plan provides for the grant of performance-based cash awards. ISOs may be granted only to the Company’s employees. All other awards may be granted to the Company’s employees, including officers, and to non-employee directors and consultants. As of September 30, 2024, there were approximately 9,844 shares remaining available for grant awards under the 2015 Plan.

During the nine-month periods ended September 30, 2024 and 2023, the Company awarded 21,125 and 0 stock options to its employees and directors, pursuant to the plan described above. Stock options generally vest over one to four years and have a contractual term of ten years. Stock options are valued using the Black-Scholes option pricing model and compensation cost is recognized based on the resulting value over the service period. Expected volatilities utilized in the model are based on implied volatilities from traded stocks of peer companies. Similarly, the dividend yield is based on historical experience and the estimate of future dividend yields. The risk-free interest rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The expected term of the options is based on the average period the stock options are expected to remain outstanding. The fair value of the option grants awarded during the nine - month period ended September 30, 2024 was $0.1 million, which has been estimated with the following assumptions on the grant date.


	Nine Months Ended September 30 2024
Risk-free interest rate	4.25%-4.61%
Volatility	106.07% - 123.31%
Expected life (years)	5.00-6.00
Expected dividend yield	0	%

During the nine months ended September 30, 2023, the Company awarded 1,525 restricted stock units to its employees and 4,580 restricted stock awards to its officers and directors, pursuant to the plan described above. Both the restricted stock units and restricted stock awards are valued at the closing price $12.56 of the Company's common stock on the grant date, and generally vest over one to four years. Total fair value of the restricted stock awards and restricted stock units awarded during the nine - month period ended September 30, 2023 is $76,679.

The following table summarizes stock option activity for employees and non-employees for the nine months ended September 30, 2024 and 2023:


	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)
Outstanding at December 31, 2022	13,391	$	189.36	8.29
Granted	—
Exercised	—
Forfeited	—
Expired	—
Outstanding at September 30, 2023	13,391	$	189.36	7.54
Exercisable at September 30, 2023	8,893	$	226.40	7.36

Outstanding at December 31, 2023	11,164	$	190.24	7.26
Granted	21,125	$	3.02
Exercised	—
Forfeited	735
Expired	—
Outstanding at September 30, 2024	31,554	$	66.75	8.45
Exercisable at September 30, 2024	9,086	$	206.48	6.41

As of September 30, 2024 and 2023, there was approximately $0.1 million and $0.4 million, respectively, of total unrecognized compensation cost related to unvested stock options. Total unrecognized compensation cost will be adjusted for future changes in employee and non-employee forfeitures, if any. The Company expects to recognize that cost over a remaining weighted-average period of 0.75 years.

EQUITY-BASED COMPENSATION

Equity Incentive Plans

The Company has granted options to employees, directors, and consultants under the 2015 Equity Incentive Plan (the “2015 Plan”). The 2015 Plan provides for the grant of incentive stock options (“ISOs”), nonstatutory stock options, restricted stock awards, restricted stock units, stock appreciation rights, performance-based stock awards and other stock-based awards. Additionally, the 2015 Plan provides for the grant of performance-based cash awards. ISOs may be granted only to the Company’s employees. All other awards may be granted to the Company’s employees, including officers, and to non-employee directors and consultants. As of December 31, 2023 and 2022, there were 10,542 and 5,904 shares, respectively, remaining available for the grant of stock option under the 2015 Plan.

During the twelve months ended December 31, 2023 and 2022, the Company awarded 0 and 6,420, respectively, stock options to its employees and directors, pursuant to the plan described above. Stock options generally vest over one to four years and have a contractual term of ten years. Stock options are valued using the Black-Scholes option pricing model and compensation cost is recognized based on the resulting value over the service period. Expected volatilities utilized in the model are based on implied volatilities from traded stocks of peer companies. Similarly, the dividend yield is based on historical experience and the estimate of future dividend yields.

The risk-free interest rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The expected term of the options is based on the average period the stock options are expected to remain outstanding. The fair value of the option grants of $0.5 million has been estimated with the following assumptions for the year ended December 31, 2022:


	2022
Risk-free interest rate	1.62%-1.70%
Volatility	125.19% - 126.42%
Expected life (years)	5 -6 years
Expected dividend yield	0.00	%

The following table summarizes stock option activity for employees and non-employees for the twelve months ended December 31, 2023 and 2022:


	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)
Outstanding at December 31, 2021	7,990	$	550	8.50
Granted	6,420	88
Exercised	—	—
Forfeited	(847)	—
Expired	(172)	—
Outstanding at December 31, 2022	13,391	$	189	8.29
Exercisable at December 31, 2022	4,763	$	287	7.63

Granted	—	$	—
Exercised	—
Forfeited	(2,228)
Expired	—
Outstanding at December 31, 2023	11,163	$	190	7.26
Exercisable at December 31, 2023	8,448	$	212	7.13

As of December 31, 2023 and 2022, there was approximately $0.3 million and $0.8 million of total unrecognized compensation cost, respectively, related to unvested stock options. Total unrecognized compensation cost will be adjusted for future changes in employee and non-employee forfeitures, if any. The Company expects to recognize that cost over a remaining weighted-average period of 1.11 years.

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standard Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Unaudited Interim Financial Information The accompanying interim financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. These unaudited interim financial statements should be read in conjunction with the audited financial statements and accompanying notes for the year ended December 31, 2023 included elsewhere in the Company’s Annual Report on Form 10-K filed with the SEC on March 22, 2024, as amended on April 22, 2024. In the opinion of management, the unaudited interim financial statements reflect all the adjustments (consisting of normal recurring adjustments) necessary to state fairly the Company’s financial position as of September 30, 2024 and the results of operations for the three and nine months ended September 30, 2024 and 2023. The interim results of operations are not necessarily indicative of the results that may occur for the full fiscal year. The December 31, 2023 balance sheet included herein was derived from the audited financial statements, but does not include all disclosures, including notes, required by GAAP for complete financial statements. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America as defined by the FASB ASC requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Cash and Cash Equivalents Salarius considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Financial Instruments and Credit Risks Financial instruments that potentially subject the Company to credit risk include cash and cash equivalents and restricted cash. Cash is deposited in demand accounts in federally insured domestic institutions to minimize risk. Insurance is provided through the Federal Deposit Insurance Corporation. Although the balances in these accounts exceed the federally insured limit from time to time, the Company has not incurred losses related to these deposits. Warrants The Company determines whether warrants should be classified as a liability or equity. For warrants classified as liabilities, the Company estimates the fair value of the warrants at each reporting period using Level 3 inputs with changes in fair value recorded in the Condensed Consolidated Statement of Operations within change in fair value of warrant liability. The estimates in valuation models are based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk-free interest rate and the fair value of the common stock underlying the warrants, and could differ materially in the future. The Company will continue to adjust the fair value of the warrant liability at the end of each reporting period for changes in fair value from the prior period until the earlier of the exercise or expiration of the applicable warrant. For warrants classified as equity contracts, the Company allocates the transaction proceeds to the warrants and any other free-standing instruments issued in the transaction based on an allowable allocation method. Clinical Trial Accruals The Company’s preclinical and clinical trials are performed by third party contract research organizations (“CROs”) and/or clinical investigators, and clinical supplies are manufactured by contract manufacturing organizations (“CMOs”). Invoicing from these third parties may be monthly based upon services performed or based upon milestones achieved. The Company accrues these expenses based upon its assessment of the status of each clinical trial and the work completed, and upon information obtained from the CROs and CMOs. The Company’s estimates are dependent upon the timeliness and accuracy of data provided by the CROs and CMOs regarding the status and cost of the studies, and may not match the actual services performed by the organizations. This could result in adjustments to the Company’s research and development expenses in future periods. To date the Company has had no significant adjustments. Grants Receivable and Revenue Salarius’ source of revenue had been from a grant received from CPRIT. Grant revenue is recognized when qualifying costs are incurred and there is reasonable assurance that conditions of the grant have been met. Cash received from grants in advance of incurring qualifying costs is recorded as deferred revenue and recognized as revenue when qualifying costs are incurred. Final reimbursement from the grant was received in the first quarter of 2024. The Company’s CPRIT grant expired during 2023 and no additional amounts are expected to be recognized or received. Research and Development Costs Research and development costs consist of expenses incurred in performing research and development activities, including pre-clinical studies and clinical trials. Research and development costs include salaries and personnel-related costs, consulting fees, fees paid for contract research services, the costs of laboratory equipment and facilities, license fees and other external costs. Research and development costs are expensed when incurred. Equity-Based Compensation Salarius measures equity-based compensation based on the grant date fair value of the awards and recognizes the associated expense in the financial statements over the requisite service period of the award, which is generally the vesting period. The Company uses the Black-Scholes option valuation model to estimate the fair value of stock options granted to employees and directors. Assumptions utilized in these models including expected volatility calculated based on implied volatility from traded stocks of peer companies, dividend yield and risk-free interest rate. Additionally, forfeitures are accounted for in compensation cost as they occur. Restricted stock and restricted stock units granted to employees and directors are measured at fair value based upon the closing price of the Company’s common stock on the grant date. Loss Per Share Basic net loss per share is calculated by dividing the net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Since the Company was in a loss position for all periods presented, diluted net loss per share is the same as basic net loss per share for all periods, as the inclusion of all potential common shares outstanding is anti-dilutive. The number of anti-dilutive shares, consisting of common shares underlying (i) common stock options, (ii) stock purchase warrants, (iii) rights entitling holders to receive warrants to purchase the Company’s common shares, and (iv) restricted stock units which have been excluded from the computation of diluted loss per share, was approximately 1,047,070 and 1,370,516 shares as of September 30, 2024 and 2023, respectively. Income Taxes Income taxes are recorded in accordance with FASB ASC Topic 740, Income Taxes (“ASC 740”), which provides for deferred taxes using an asset and liability approach. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and the tax reporting basis of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. The Company provides a valuation allowance against net deferred tax assets unless, based upon the available evidence, it is more likely than not that the deferred tax assets will be realized. The Company has evaluated available evidence and concluded that the Company may not realize the benefit of its deferred tax assets; therefore, a valuation allowance has been established for the full amount of the deferred tax assets. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. As of September 30, 2024 and December 31, 2023, the Company did not have any significant uncertain tax positions and no interest or penalties have been charged. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company is subject to routine audits by taxing jurisdictions.	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standard Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The Company considered its going concern disclosure requirements in accordance with ASC 205-40-50.The Company has performed an analysis and concluded substantial doubt exists with respect to the Company being able to continue as a going concern through one year from the date of issuance of the consolidated financial statements for the year ended December 31, 2023. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America as defined by the FASB ASC requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Cash and Cash Equivalents Salarius considers all highly-liquid investments with original maturities of three months or less to be cash equivalents. Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying value may not be recoverable. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. There were no impairment charges related to long-lived assets during the twelve months ended December 31, 2023 and 2022. Goodwill Goodwill is not amortized, but is tested at least annually for impairment at the reporting unit level. The Company has determined that the reporting unit is the single operating segment disclosed in its current financial statements. Additional impairment assessments may be performed on an interim basis if the Company encounters events or changes in circumstances that would indicate that, more likely than not, the carrying value of goodwill has been impaired. Impairment is the condition that exists when the carrying amount of goodwill exceeds its implied fair value. The Company utilizes the option to perform a qualitative assessment for its reporting unit and if the Company concludes it is more likely than not that the fair value of the reporting unit is less than its carrying amount, then the Company utilizes the two-step quantitative assessment. The Company’s qualitative assessment is sensitive to assumptions related to potential adverse events and circumstances, including current market trends in control premiums and involves judgement in determining comparable peer companies to include in the control premium evaluation. The Company recorded a goodwill impairment loss of $8.9 million during the twelve months ended December 31, 2022. There was no goodwill balance as of December 31, 2023 and 2022. Financial Instruments and Credit Risks Financial instruments that potentially subject the Company to credit risk include cash and cash equivalents and restricted cash. Cash is deposited in demand accounts in federally insured domestic institutions to minimize risk. Insurance is provided through the Federal Deposit Insurance Corporation (“FDIC”). Although the balances in these accounts exceed the federally insured limit from time to time, the Company has not incurred losses related to these deposits. Warrants The Company determines whether warrants should be classified as a liability or equity. For warrants classified as liabilities, the Company estimates the fair value of the warrants at each reporting period using Level 3 inputs with changes in fair value recorded in the Consolidated Statement of Operations within change in fair value of warrant liability. The estimates in valuation models are based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk-free interest rate and the fair value of the common stock underlying the warrants, and could differ materially in the future. The Company will continue to adjust the fair value of the warrant liability at the end of each reporting period for changes in fair value from the prior period until the earlier of the exercise or expiration of the applicable warrant. For warrants classified as equity contracts, the Company allocates the transaction proceeds to the warrants and any other free-standing instruments issued in the transaction based on an allowable allocation method. Clinical Trial Accruals The Company’s preclinical and clinical trials are performed by third party contract research organizations (CROs) and/or clinical investigators, and clinical supplies are manufactured by contract manufacturing organizations (CMOs). Invoicing from these third parties may be monthly based upon services performed or based upon milestones achieved. The Company accrues these expenses based upon its assessment of the status of each clinical trial and the work completed, and upon information obtained from the CROs and CMOs. The Company’s estimates are dependent upon the timeliness and accuracy of data provided by the CROs and CMOs regarding the status and cost of the studies, and may not match the actual services performed by the organizations. This could result in adjustments to the Company’s research and development expenses in future periods. To date the Company has had no significant adjustments. Grants Receivable and Revenue Recognition Salarius’ source of revenue has been from a grant received from CPRIT. Grant revenue is recognized when qualifying costs are incurred and there is reasonable assurance that conditions of the grant have been met. Cash received from grants in advance of incurring qualifying costs is recorded as deferred revenue and recognized as revenue when qualifying costs are incurred. The Company records revenue and a corresponding grants receivable when qualifying costs are incurred before the grants are received. The Company’s CPRIT grant expired during 2023 and no additional amounts are expected to be recognized or received. Research and Development Costs Research and development costs consist of expenses incurred in performing research and development activities, including pre-clinical studies and clinical trials. Research and development costs include salaries and personnel-related costs, consulting fees, fees paid for contract research services, the costs of laboratory equipment and facilities, license fees and other external costs. Research and development costs are expensed when incurred. Costs incurred in obtaining IPRD that has no alternative future use are charged to research and development expense as acquired, and presented as investing activity cash outflows on the Statement of Cash Flow. Equity-Based Compensation Salarius measures equity-based compensation based on the grant date fair value of the awards and recognizes the associated expense in the financial statements over the requisite service period of the award, which is generally the vesting period. The Company uses the Black-Scholes option valuation model to estimate the fair value of the stock-based compensation and incentive units. Assumptions utilized in these models include expected volatility calculated based on implied volatility from traded stocks of peer companies, dividend yield and risk-free interest rate. Additionally, forfeitures are accounted for in compensation cost as they occur. Loss Per Share Basic net loss per share is calculated by dividing the net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Since the Company was in a loss position for all periods presented, diluted net loss per share is the same as basic net loss per share for all periods, as the inclusion of all potential common shares outstanding is anti-dilutive. The number of anti-dilutive shares, consisting of common shares underlying (i) common stock options, (ii) stock purchase warrants, (iii) unvested restricted stock and (iv) rights entitling holders to receive warrants to purchase the Company’s common shares, which have been excluded from the computation of diluted loss per share, was 1,366,892 and 88,080 shares as of December 31, 2023 and 2022, respectively. Income Taxes Income taxes are recorded in accordance with FASB ASC Topic 740, Income Taxes (“ASC 740”), which provides for deferred taxes using an asset and liability approach. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and the tax reporting basis of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. The Company provides a valuation allowance against net deferred tax assets unless, based upon the available evidence, it is more likely than not that the deferred tax assets will be realized. The Company has evaluated available evidence and concluded that the Company may not realize the benefit of its deferred tax assets; therefore, a valuation allowance has been established for the full amount of the deferred tax assets. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. As of December 31, 2023 and 2022, the Company did not have any significant uncertain tax positions and no interest or penalties have been charged. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company is subject to routine audits by taxing jurisdictions. Pronouncements Not Yet Adopted In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which is intended to improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid by jurisdiction. The ASU is effective for public business entities for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements. Recently Adopted Accounting Standard In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires the measurement of all expected credit losses for financial assets including trade receivables held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Subsequent to the issuance of ASU 2016-13, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses. This ASU does not change the core principle of the guidance in ASU 2016-13, instead these amendments are intended to clarify and improve operability of certain topics included within the credit losses guidance. The FASB also subsequently issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Derivatives and Hedging (Topic 815), and Financial Instruments (Topic 825), which did not change the core principle of the guidance in ASU 2016-13, but clarified that expected recoveries of amounts previously written off and expected to be written off should be included in the valuation account and should not exceed amounts previously written off and expected to be written off. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019 for public business entities, excluding smaller reporting companies. Early adoption is permitted. As a smaller reporting company, the guidance was effective for the Company on January 1, 2023. The adoption of this standard did not have a material impact to this Company’s consolidated financial statements.

EQUITY-BASED COMPENSATION

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

EQUITY-BASED COMPENSATION

Equity Incentive Plans


	Nine Months Ended September 30 2024
Risk-free interest rate	4.25%-4.61%
Volatility	106.07% - 123.31%
Expected life (years)	5.00-6.00
Expected dividend yield	0	%

The following table summarizes stock option activity for employees and non-employees for the nine months ended September 30, 2024 and 2023:


	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)
Outstanding at December 31, 2022	13,391	$	189.36	8.29
Granted	—
Exercised	—
Forfeited	—
Expired	—
Outstanding at September 30, 2023	13,391	$	189.36	7.54
Exercisable at September 30, 2023	8,893	$	226.40	7.36

Outstanding at December 31, 2023	11,164	$	190.24	7.26
Granted	21,125	$	3.02
Exercised	—
Forfeited	735
Expired	—
Outstanding at September 30, 2024	31,554	$	66.75	8.45
Exercisable at September 30, 2024	9,086	$	206.48	6.41

EQUITY-BASED COMPENSATION

Equity Incentive Plans


	2022
Risk-free interest rate	1.62%-1.70%
Volatility	125.19% - 126.42%
Expected life (years)	5 -6 years
Expected dividend yield	0.00	%

The following table summarizes stock option activity for employees and non-employees for the twelve months ended December 31, 2023 and 2022:


	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)
Outstanding at December 31, 2021	7,990	$	550	8.50
Granted	6,420	88
Exercised	—	—
Forfeited	(847)	—
Expired	(172)	—
Outstanding at December 31, 2022	13,391	$	189	8.29
Exercisable at December 31, 2022	4,763	$	287	7.63

Granted	—	$	—
Exercised	—
Forfeited	(2,228)
Expired	—
Outstanding at December 31, 2023	11,163	$	190	7.26
Exercisable at December 31, 2023	8,448	$	212	7.13

INCOME TAX - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Amount
Federal Tax at Statutory Rate	21.00%	21.00%
Permanent	(0.89%)	(6.25%)
Change in Valuation Allowance	(22.77%)	(21.73%)
True Ups	0.00%	(0.06%)
R&D Credit	2.66%	7.04%
Effective Tax Rate	0.00%	0.00%

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2024	Jun. 14, 2024	Dec. 31, 2023	Dec. 31, 2022	Oct. 14, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (usd per share)	$ 0.0001		$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000		10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0		0	0
Preferred stock, shares outstanding (in shares)	0		0	0
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000		100,000,000	100,000,000
Common stock, shares issued (in shares)	1,441,157		492,304
Common stock, shares outstanding (in shares)	1,441,157		492,304

CONSOLIDATED BALANCE SHEETS - USD ($)

Sep. 30, 2024

Jun. 30, 2024

Mar. 31, 2024

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Current assets:

Cash and cash equivalents

$ 3,284,029

$ 5,899,910

$ 12,106,435

Grants receivable from CPRIT

1,610,490

Prepaid expenses and other current assets

538,617

619,763

803,373

Total current assets

3,822,646

6,519,673

14,520,298

Other assets

36,518

66,850

130,501

Total assets

3,859,164

6,586,523

14,650,799

Current liabilities:

Accounts payable

165,801

602,853

2,858,330

Accrued expenses and other current liabilities

439,931

406,745

1,407,861

Notes payable

328,849

289,643

Total liabilities

934,581

1,299,241

4,266,191

Commitments and contingencies (NOTE 5)

Stockholders’ equity (deficit):

Preferred stock, $0.0001 par value; 10,000,000 shares authorized; none issued or outstanding

Common stock, $0.0001 par value; 100,000,000 shares authorized; 492,304 and 281,987shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively(1)

144

^[1]

Additional paid-in capital

83,384,124

81,635,074

74,189,728

Accumulated deficit

(80,459,685)

(76,347,841)

(63,805,148)

Total stockholders’ equity

2,924,583

$ 2,375,353

$ 3,649,538

5,287,282

$ 6,083,703

$ 8,413,802

$ 5,558,861

10,384,608

$ 38,722,985

Total liabilities and stockholders’ equity

$ 3,859,164

$ 6,586,523

$ 14,650,799

[1]	Share and per share amounts have been recast to reflect the 1-for-8 reverse stock split effected on June 14, 2024 on retroactive basis for all periods presented.

COMMITMENTS AND CONTINGENCIES	9 Months Ended	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Cancer Prevention and Research Institute of Texas In June 2016, the Company entered into a Cancer Research Grant Contract with CPRIT. Pursuant to the contract, CPRIT awarded the Company a grant up to $18.7 million, further modified to $16.1 million to fund development of LSD 1 inhibitor. The grant expired in 2023. The Company will retain ownership over any intellectual property developed under the contract (“Project Result”). With respect to non-commercial use of any Project Result, the Company agreed to grant to CPRIT a nonexclusive, irrevocable, royalty-free, perpetual, worldwide license with right to sublicense any necessary additional intellectual property rights to exploit all Project Results by CPRIT, other governmental entities and agencies of the State of Texas, and private or independent institutions of higher education located in Texas, for education, research and other non-commercial purposes. The Company is obligated to make revenue-sharing payments to CPRIT with respect to net sales of any product covered by the contract, up to a maximum repayment of certain percentage of the aggregate amount paid to the Company by CPRIT under the CPRIT contract. The payments are determined as a percentage of net sales, which may be reduced if the Company is required to obtain a license from a third party to sell any such product. In addition, upon meeting the foregoing limitation on revenue-sharing payments, the Company agreed to make continued revenue-sharing payments to CPRIT of less than 1% of net sales. License Agreement with the University of Utah Research Foundation In 2011, the Company entered into a license agreement with the University of Utah, under which the Company acquired an exclusive license to an epigenetic enzyme lysine specific demethylase 1 (“LSD1”). In exchange for the license, the Company issued 2% equity ownership in the Company on a fully diluted basis at the effective date of the agreement subject to certain adjustments specified in the agreement, such as granted revenue sharing rights on any resulting products or processes to commence on first commercial sale, and milestone payments based upon regulatory approval of any resulting product or process as well as on the second anniversary of first commercial sale. Lease Agreement The Company presently leases office space under operating lease agreements on a month-to-month basis.	COMMITMENTS AND CONTINGENCIES Cancer Prevention and Research Institute of Texas In June 2016, the Company entered into a Cancer Research Grant Contract with CPRIT. Pursuant to the contract, CPRIT awarded the Company a grant up to $18.7 million, further modified to $16.1 million to fund development of LSD 1 inhibitor. The grant expired during 2023. The Company will retain ownership over any intellectual property developed under the contract (“Project Result”). With respect to non-commercial use of any Project Result, the Company agreed to grant to CPRIT a nonexclusive, irrevocable, royalty-free, perpetual, worldwide license with right to sublicense any necessary additional intellectual property rights to exploit all Project Results by CPRIT, other governmental entities and agencies of the State of Texas, and private or independent institutions of higher education located in Texas, for education, research and other non-commercial purposes. The Company is obligated to make revenue-sharing payments to CPRIT with respect to net sales of any product covered by the contract, up to a maximum repayment of certain percentage of the aggregate amount paid to the Company by CPRIT under the CPRIT contract. The payments are determined as a percentage of net sales, which may be reduced if the Company is required to obtain a license from a third party to sell any such product. In addition, upon meeting the foregoing limitation on revenue-sharing payments, the Company agreed to make continued revenue-sharing payments to CPRIT of less than 1% of net sales. License Agreement with the University of Utah Research Foundation In 2011, the Company entered into a license agreement with the University of Utah, under which, the Company acquired license to LSD 1. In exchange for the license, the Company issued 2% equity ownership in the Company based on a fully diluted basis at the effective date of the agreement and subject to certain adjustments specified in the agreement, granted revenue sharing rights on any resulting products or processes to commence on first commercial sale, and milestone payments based upon regulatory approval of any resulting product or process as well as on the second anniversary of first commercial sale. Lease Agreement The Company presently leases office space under operating lease agreements on a month to month basis.

SUBSEQUENT EVENTS (Details)	Jun. 14, 2024	Mar. 15, 2024	Oct. 14, 2022
Subsequent Event [Line Items]
Conversion ratio	0.125		0.04
Subsequent event \| Minimum
Subsequent Event [Line Items]
Conversion ratio		0.25
Subsequent event \| Maximum
Subsequent Event [Line Items]
Conversion ratio		0.125

PREPAID EXPENSES AND OTHER CURRENT ASSETS

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets at September 30, 2024 and December 31, 2023 consisted of the following:


	September 30, 2024		December 31, 2023
Insurance	$	419,602	$	468,495

Other prepaid and current assets	119,015		151,268
Total prepaid expenses and other current assets	$	538,617	$	619,763

PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets at December 31, 2023 and 2022 consisted of the following:


	December 31,
	2023		2022
Prepaid clinical trial expenses	$	—	$	11,185
Prepaid insurance	468,495		624,612

Other prepaid and current assets	151,268		167,576
Total prepaid expenses and other current assets	$	619,763	$	803,373

GRANTS RECEIVABLE (Details) - USD ($)		1 Months Ended	12 Months Ended
GRANTS RECEIVABLE (Details) - USD ($)	Feb. 15, 2023	Jun. 30, 2016	Dec. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Grants receivable from CPRIT			$ 0	$ 1,610,490
Award amount		$ 18,700,000	16,100,000
Grant
Subsequent Event [Line Items]
Grants receivable from CPRIT			$ 0	$ 1,600,000
Award amount	$ 1,500,000

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standard Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Unaudited Interim Financial Information The accompanying interim financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. These unaudited interim financial statements should be read in conjunction with the audited financial statements and accompanying notes for the year ended December 31, 2023 included elsewhere in the Company’s Annual Report on Form 10-K filed with the SEC on March 22, 2024, as amended on April 22, 2024. In the opinion of management, the unaudited interim financial statements reflect all the adjustments (consisting of normal recurring adjustments) necessary to state fairly the Company’s financial position as of September 30, 2024 and the results of operations for the three and nine months ended September 30, 2024 and 2023. The interim results of operations are not necessarily indicative of the results that may occur for the full fiscal year. The December 31, 2023 balance sheet included herein was derived from the audited financial statements, but does not include all disclosures, including notes, required by GAAP for complete financial statements. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America as defined by the FASB ASC requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Cash and Cash Equivalents Salarius considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Financial Instruments and Credit Risks Financial instruments that potentially subject the Company to credit risk include cash and cash equivalents and restricted cash. Cash is deposited in demand accounts in federally insured domestic institutions to minimize risk. Insurance is provided through the Federal Deposit Insurance Corporation. Although the balances in these accounts exceed the federally insured limit from time to time, the Company has not incurred losses related to these deposits. Warrants The Company determines whether warrants should be classified as a liability or equity. For warrants classified as liabilities, the Company estimates the fair value of the warrants at each reporting period using Level 3 inputs with changes in fair value recorded in the Condensed Consolidated Statement of Operations within change in fair value of warrant liability. The estimates in valuation models are based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk-free interest rate and the fair value of the common stock underlying the warrants, and could differ materially in the future. The Company will continue to adjust the fair value of the warrant liability at the end of each reporting period for changes in fair value from the prior period until the earlier of the exercise or expiration of the applicable warrant. For warrants classified as equity contracts, the Company allocates the transaction proceeds to the warrants and any other free-standing instruments issued in the transaction based on an allowable allocation method. Clinical Trial Accruals The Company’s preclinical and clinical trials are performed by third party contract research organizations (“CROs”) and/or clinical investigators, and clinical supplies are manufactured by contract manufacturing organizations (“CMOs”). Invoicing from these third parties may be monthly based upon services performed or based upon milestones achieved. The Company accrues these expenses based upon its assessment of the status of each clinical trial and the work completed, and upon information obtained from the CROs and CMOs. The Company’s estimates are dependent upon the timeliness and accuracy of data provided by the CROs and CMOs regarding the status and cost of the studies, and may not match the actual services performed by the organizations. This could result in adjustments to the Company’s research and development expenses in future periods. To date the Company has had no significant adjustments. Grants Receivable and Revenue Salarius’ source of revenue had been from a grant received from CPRIT. Grant revenue is recognized when qualifying costs are incurred and there is reasonable assurance that conditions of the grant have been met. Cash received from grants in advance of incurring qualifying costs is recorded as deferred revenue and recognized as revenue when qualifying costs are incurred. Final reimbursement from the grant was received in the first quarter of 2024. The Company’s CPRIT grant expired during 2023 and no additional amounts are expected to be recognized or received. Research and Development Costs Research and development costs consist of expenses incurred in performing research and development activities, including pre-clinical studies and clinical trials. Research and development costs include salaries and personnel-related costs, consulting fees, fees paid for contract research services, the costs of laboratory equipment and facilities, license fees and other external costs. Research and development costs are expensed when incurred. Equity-Based Compensation Salarius measures equity-based compensation based on the grant date fair value of the awards and recognizes the associated expense in the financial statements over the requisite service period of the award, which is generally the vesting period. The Company uses the Black-Scholes option valuation model to estimate the fair value of stock options granted to employees and directors. Assumptions utilized in these models including expected volatility calculated based on implied volatility from traded stocks of peer companies, dividend yield and risk-free interest rate. Additionally, forfeitures are accounted for in compensation cost as they occur. Restricted stock and restricted stock units granted to employees and directors are measured at fair value based upon the closing price of the Company’s common stock on the grant date. Loss Per Share Basic net loss per share is calculated by dividing the net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Since the Company was in a loss position for all periods presented, diluted net loss per share is the same as basic net loss per share for all periods, as the inclusion of all potential common shares outstanding is anti-dilutive. The number of anti-dilutive shares, consisting of common shares underlying (i) common stock options, (ii) stock purchase warrants, (iii) rights entitling holders to receive warrants to purchase the Company’s common shares, and (iv) restricted stock units which have been excluded from the computation of diluted loss per share, was approximately 1,047,070 and 1,370,516 shares as of September 30, 2024 and 2023, respectively. Income Taxes Income taxes are recorded in accordance with FASB ASC Topic 740, Income Taxes (“ASC 740”), which provides for deferred taxes using an asset and liability approach. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and the tax reporting basis of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. The Company provides a valuation allowance against net deferred tax assets unless, based upon the available evidence, it is more likely than not that the deferred tax assets will be realized. The Company has evaluated available evidence and concluded that the Company may not realize the benefit of its deferred tax assets; therefore, a valuation allowance has been established for the full amount of the deferred tax assets. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. As of September 30, 2024 and December 31, 2023, the Company did not have any significant uncertain tax positions and no interest or penalties have been charged. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company is subject to routine audits by taxing jurisdictions.	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standard Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The Company considered its going concern disclosure requirements in accordance with ASC 205-40-50.The Company has performed an analysis and concluded substantial doubt exists with respect to the Company being able to continue as a going concern through one year from the date of issuance of the consolidated financial statements for the year ended December 31, 2023. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America as defined by the FASB ASC requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Cash and Cash Equivalents Salarius considers all highly-liquid investments with original maturities of three months or less to be cash equivalents. Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying value may not be recoverable. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. There were no impairment charges related to long-lived assets during the twelve months ended December 31, 2023 and 2022. Goodwill Goodwill is not amortized, but is tested at least annually for impairment at the reporting unit level. The Company has determined that the reporting unit is the single operating segment disclosed in its current financial statements. Additional impairment assessments may be performed on an interim basis if the Company encounters events or changes in circumstances that would indicate that, more likely than not, the carrying value of goodwill has been impaired. Impairment is the condition that exists when the carrying amount of goodwill exceeds its implied fair value. The Company utilizes the option to perform a qualitative assessment for its reporting unit and if the Company concludes it is more likely than not that the fair value of the reporting unit is less than its carrying amount, then the Company utilizes the two-step quantitative assessment. The Company’s qualitative assessment is sensitive to assumptions related to potential adverse events and circumstances, including current market trends in control premiums and involves judgement in determining comparable peer companies to include in the control premium evaluation. The Company recorded a goodwill impairment loss of $8.9 million during the twelve months ended December 31, 2022. There was no goodwill balance as of December 31, 2023 and 2022. Financial Instruments and Credit Risks Financial instruments that potentially subject the Company to credit risk include cash and cash equivalents and restricted cash. Cash is deposited in demand accounts in federally insured domestic institutions to minimize risk. Insurance is provided through the Federal Deposit Insurance Corporation (“FDIC”). Although the balances in these accounts exceed the federally insured limit from time to time, the Company has not incurred losses related to these deposits. Warrants The Company determines whether warrants should be classified as a liability or equity. For warrants classified as liabilities, the Company estimates the fair value of the warrants at each reporting period using Level 3 inputs with changes in fair value recorded in the Consolidated Statement of Operations within change in fair value of warrant liability. The estimates in valuation models are based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk-free interest rate and the fair value of the common stock underlying the warrants, and could differ materially in the future. The Company will continue to adjust the fair value of the warrant liability at the end of each reporting period for changes in fair value from the prior period until the earlier of the exercise or expiration of the applicable warrant. For warrants classified as equity contracts, the Company allocates the transaction proceeds to the warrants and any other free-standing instruments issued in the transaction based on an allowable allocation method. Clinical Trial Accruals The Company’s preclinical and clinical trials are performed by third party contract research organizations (CROs) and/or clinical investigators, and clinical supplies are manufactured by contract manufacturing organizations (CMOs). Invoicing from these third parties may be monthly based upon services performed or based upon milestones achieved. The Company accrues these expenses based upon its assessment of the status of each clinical trial and the work completed, and upon information obtained from the CROs and CMOs. The Company’s estimates are dependent upon the timeliness and accuracy of data provided by the CROs and CMOs regarding the status and cost of the studies, and may not match the actual services performed by the organizations. This could result in adjustments to the Company’s research and development expenses in future periods. To date the Company has had no significant adjustments. Grants Receivable and Revenue Recognition Salarius’ source of revenue has been from a grant received from CPRIT. Grant revenue is recognized when qualifying costs are incurred and there is reasonable assurance that conditions of the grant have been met. Cash received from grants in advance of incurring qualifying costs is recorded as deferred revenue and recognized as revenue when qualifying costs are incurred. The Company records revenue and a corresponding grants receivable when qualifying costs are incurred before the grants are received. The Company’s CPRIT grant expired during 2023 and no additional amounts are expected to be recognized or received. Research and Development Costs Research and development costs consist of expenses incurred in performing research and development activities, including pre-clinical studies and clinical trials. Research and development costs include salaries and personnel-related costs, consulting fees, fees paid for contract research services, the costs of laboratory equipment and facilities, license fees and other external costs. Research and development costs are expensed when incurred. Costs incurred in obtaining IPRD that has no alternative future use are charged to research and development expense as acquired, and presented as investing activity cash outflows on the Statement of Cash Flow. Equity-Based Compensation Salarius measures equity-based compensation based on the grant date fair value of the awards and recognizes the associated expense in the financial statements over the requisite service period of the award, which is generally the vesting period. The Company uses the Black-Scholes option valuation model to estimate the fair value of the stock-based compensation and incentive units. Assumptions utilized in these models include expected volatility calculated based on implied volatility from traded stocks of peer companies, dividend yield and risk-free interest rate. Additionally, forfeitures are accounted for in compensation cost as they occur. Loss Per Share Basic net loss per share is calculated by dividing the net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Since the Company was in a loss position for all periods presented, diluted net loss per share is the same as basic net loss per share for all periods, as the inclusion of all potential common shares outstanding is anti-dilutive. The number of anti-dilutive shares, consisting of common shares underlying (i) common stock options, (ii) stock purchase warrants, (iii) unvested restricted stock and (iv) rights entitling holders to receive warrants to purchase the Company’s common shares, which have been excluded from the computation of diluted loss per share, was 1,366,892 and 88,080 shares as of December 31, 2023 and 2022, respectively. Income Taxes Income taxes are recorded in accordance with FASB ASC Topic 740, Income Taxes (“ASC 740”), which provides for deferred taxes using an asset and liability approach. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and the tax reporting basis of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. The Company provides a valuation allowance against net deferred tax assets unless, based upon the available evidence, it is more likely than not that the deferred tax assets will be realized. The Company has evaluated available evidence and concluded that the Company may not realize the benefit of its deferred tax assets; therefore, a valuation allowance has been established for the full amount of the deferred tax assets. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. As of December 31, 2023 and 2022, the Company did not have any significant uncertain tax positions and no interest or penalties have been charged. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company is subject to routine audits by taxing jurisdictions. Pronouncements Not Yet Adopted In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which is intended to improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid by jurisdiction. The ASU is effective for public business entities for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements. Recently Adopted Accounting Standard In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires the measurement of all expected credit losses for financial assets including trade receivables held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Subsequent to the issuance of ASU 2016-13, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses. This ASU does not change the core principle of the guidance in ASU 2016-13, instead these amendments are intended to clarify and improve operability of certain topics included within the credit losses guidance. The FASB also subsequently issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Derivatives and Hedging (Topic 815), and Financial Instruments (Topic 825), which did not change the core principle of the guidance in ASU 2016-13, but clarified that expected recoveries of amounts previously written off and expected to be written off should be included in the valuation account and should not exceed amounts previously written off and expected to be written off. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019 for public business entities, excluding smaller reporting companies. Early adoption is permitted. As a smaller reporting company, the guidance was effective for the Company on January 1, 2023. The adoption of this standard did not have a material impact to this Company’s consolidated financial statements.

ORGANIZATION AND OPERATIONS (Details)	Jun. 14, 2024 $ / shares	Oct. 14, 2022 $ / shares	Sep. 30, 2024 $ / shares	Dec. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Conversion ratio	0.125	0.04

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Narrative (Details) - USD ($)	Sep. 30, 2024	Jul. 31, 2024	Dec. 31, 2023	Jul. 31, 2023	Dec. 31, 2022
Short-term Debt [Line Items]
Notes payable	$ 328,849		$ 289,643		$ 0
Notes Payable
Short-term Debt [Line Items]
Principal amount		$ 400,000		$ 600,000
Interest rate		9.74%		7.87%

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended	12 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Sep. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable, are used to measure fair value: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Significant unobservable inputs including Salarius’ own assumptions in determining fair value. The Company believes the recorded values of its financial instruments, including cash and cash equivalents, accounts payable and note payable approximate their fair values due to the short-term nature of these instruments.	FAIR VALUE OF FINANCIAL INSTRUMENTS Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable, are used to measure fair value: Level 1-Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2-Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3-Significant unobservable inputs including Salarius’ own assumptions in determining fair value. The Company believes the recorded values of its financial instruments, including cash and cash equivalents, accounts payable and note payable approximate their fair values due to the short-term nature of these instruments.

- Definition

+ References

+ Details

EQUITY-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options granted (shares)			0	6,420
Fair value	$ 0.1			$ 0.5
Unrecognized compensation cost, options	$ 0.1	$ 0.4	$ 0.3	$ 0.8
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options granted (shares)	21,125	0
Stock options, contractual term	10 years		10 years
Unrecognized compensation cost, recognition period	9 months		1 year 1 month 9 days
Share-based Payment Arrangement, Option \| Certain Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			6 months
Maximum \| Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years		4 years
Minimum \| Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year		1 year
2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares remaining available for grant of stock awards (shares)	9,844		10,542	5,904

STOCKHOLDERS' EQUITY (Details) - USD ($)

3 Months Ended

9 Months Ended

12 Months Ended

May 11, 2023

Jul. 02, 2021

Feb. 05, 2021

Sep. 30, 2024

Jun. 30, 2024

Mar. 31, 2024

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Sep. 30, 2024

Sep. 30, 2023

Dec. 31, 2023

Dec. 31, 2022

Jun. 14, 2024

May 31, 2023

Oct. 14, 2022

Apr. 30, 2022

Apr. 22, 2022

Dec. 31, 2020

Class of Stock [Line Items]

Shares issued, value

$ 1,461,342

$ 65,080

$ 38

$ 59

$ 6,608,790

$ 311,681

$ 6,920,529

$ 1,984,876

Common stock, par value (usd per share)

$ 0.0001

Warrants outstanding (in shares)

1,015,385

1,355,600

1,015,385

1,355,600

74,689

Warrants and Rights Outstanding, Term

5 years 6 months

5 years

Exercise price (in dollar per share)

$ 236.40

Warrants and rights exercisable, term

6 months

Maximum

Class of Stock [Line Items]

Exercise price (in dollar per share)

230

Pre-Funded Warrant

Class of Stock [Line Items]

Warrants outstanding (in shares)

340,000

1,355,598

340,000

Exercise price (in dollar per share)

$ 0.0008

$ 0.0001

Series A-1 Warrants

Class of Stock [Line Items]

Warrants and Rights Outstanding, Term

5 years 6 months

Exercise price (in dollar per share)

$ 11.20

Series A-2 Warrants

Class of Stock [Line Items]

Warrants and Rights Outstanding, Term

18 months

Inducement Warrants | Maximum

Class of Stock [Line Items]

Exercise price (in dollar per share)

$ 236.40

H.C Wainwright & Co., LLC Warrants

Class of Stock [Line Items]

Number of shares called by warrants (in shares)

31,818

Warrants and Rights Outstanding, Term

5 years 6 months

Exercise price (in dollar per share)

$ 16.50

Purchase Agreement

Class of Stock [Line Items]

Issuance of equity securities, net (in shares)

41,250

Common stock, par value (usd per share)

$ 0.0001

Proceeds from issuance or sale of equity

$ 6,000,000

Purchase Agreement | Pre-Funded Warrant

Class of Stock [Line Items]

Warrants outstanding (in shares)

413,296

Purchase Agreement | Series A-1 Warrants

Class of Stock [Line Items]

Number of shares called by warrants (in shares)

454,546

Purchase Agreement | Series A-2 Warrants

Class of Stock [Line Items]

Number of shares called by warrants (in shares)

454,546

Purchase Agreement | Share And Accompanying Common Stock Warrants

Class of Stock [Line Items]

Class of warrant or right purchase price per warrant or right (in dollar per share)

$ 13.20

Purchase Agreement | Pre-Funded Warrant And Accompanying Common Stock Warrants

Class of Stock [Line Items]

Class of warrant or right purchase price per warrant or right (in dollar per share)

$ 13.1992

Common Stock (1)

Class of Stock [Line Items]

Issuance of equity securities, net (in shares)

799,980

^[1]

101,873

^[1]

47,000

^[1]

73,296

^[1]

110,472

^[1]

17,812

^[1]

201,580

^[2]

46,697

^[2]

Shares issued, value

$ 80

^[1]

$ 10

^[1]

$ 5

^[1]

$ 7

^[1]

$ 11

^[1]

$ 2

^[1]

$ 20

^[2]

$ 5

^[2]

Common stock, par value (usd per share)

$ 0.0001

Common Stock (1) | Pre-Funded Warrant

Class of Stock [Line Items]

Issuance of equity securities, net (in shares)

340,000

73,296

Common Stock (1) | ATM

Class of Stock [Line Items]

Issuance of equity securities, net (in shares)

608,949

87,034

Shares issued, value

$ 25,000,000

$ 6,300,000

$ 1,700,000

Warrant

Class of Stock [Line Items]

Exercise price (in dollar per share)

$ 67.98

Warrant | Purchase Agreement

Class of Stock [Line Items]

Exercise price (in dollar per share)

$ 67.98

[1]	Share and per share amounts have been restated to reflect the 1-for-8 reverse stock split effected in June 14, 2024 on retroactive basis for all periods presented.
[2]	Share and per share amounts have been recast to reflect the 1-for-8 reverse stock split effected in June 14, 2024 on retroactive basis for all periods presented.

GRANT RECEIVABLE FROM CPRIT	9 Months Ended	12 Months Ended
GRANT RECEIVABLE FROM CPRIT	Sep. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
GRANTS RECEIVABLE FROM CPRIT	GRANT RECEIVABLE FROM CPRIT Grants receivable balances are zero at September 30, 2024 and December 31, 2023. During the nine months ended September 30, 2024 and 2023, the Company received $0.1 million and $1.5 million from CPRIT, respectively. Since inception, the Company has received approximately $16.1 million under the grant. The grant was closed in 2023.	GRANTS RECEIVABLE Grants receivable represents qualifying costs incurred where there is reasonable assurance that conditions of the grant have been met but the corresponding funds have not been received as of the reporting date. Grants receivable balances were $0 as of December 31, 2023 and $1.6 million at December 31, 2022, respectively. The Company received $1.5 million from the Cancer Prevention and Research Institute of Texas on February 15, 2023.

EQUITY-BASED COMPENSATION - Schedule of Fair Value Assumptions (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum	4.25%	1.62%
Risk-free interest rate, maximum	4.61%	1.70%
Volatility, minimum	106.07%	125.19%
Volatility, maximum	123.31%	126.42%
Expected dividend yield	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	5 years	5 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	6 years	6 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

EQUITY-BASED COMPENSATION - Schedule of Stock Option Activity (Details) - $ / shares	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares
Outstanding, beginning balance (shares)	11,163	13,391	13,391	7,990
Granted (shares)			0	6,420
Exercised (in shares)			0	0
Forfeited (in shares)			2,228	847
Expired (in shares)			0	172
Outstanding, ending balance (shares)			11,163	13,391	7,990
Exercisable (shares)			8,448	4,763
Weighted-Average Exercise Price
Beginning balance (in usd per share)	$ 190	$ 189	$ 189	$ 550
Granted (in usd per share)			0	88
Exercised (in usd per share)				0
Forfeited (in usd per share)				0
Expired (in usd per share)				0
Ending balance (in usd per share)			190	189	$ 550
Exercisable (in usd per share)			$ 212	$ 287
Weighted-Average Remaining Contractual Term (in years)
Outstanding, weighted-average remaining contractual term			7 years 3 months 3 days	8 years 3 months 14 days	8 years 6 months
Exercisable, weighted-average remaining contractual term			7 years 1 month 17 days	7 years 7 months 17 days
Share-based Payment Arrangement, Option
Shares
Outstanding, beginning balance (shares)	11,164	13,391	13,391
Granted (shares)	21,125	0
Exercised (in shares)	0	0
Forfeited (in shares)	735	0
Expired (in shares)	0	0
Outstanding, ending balance (shares)	31,554	13,391	11,164	13,391
Exercisable (shares)	9,086	8,893
Weighted-Average Exercise Price
Beginning balance (in usd per share)	$ 190.24	$ 189.36	$ 189.36
Granted (in usd per share)	3.02
Exercised (in usd per share)
Forfeited (in usd per share)
Expired (in usd per share)
Ending balance (in usd per share)	66.75	189.36	$ 190.24	$ 189.36
Exercisable (in usd per share)	$ 206.48	$ 226.40
Weighted-Average Remaining Contractual Term (in years)
Outstanding, weighted-average remaining contractual term	8 years 5 months 12 days	7 years 6 months 14 days	7 years 3 months 3 days	8 years 3 months 14 days
Exercisable, weighted-average remaining contractual term	6 years 4 months 28 days	7 years 4 months 9 days

EQUITY-BASED COMPENSATION - Schedule of Fair Value Assumptions (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum	4.25%	1.62%
Risk-free interest rate, maximum	4.61%	1.70%
Volatility, minimum	106.07%	125.19%
Volatility, maximum	123.31%	126.42%
Expected dividend yield	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	5 years	5 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	6 years	6 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Net loss	$ (12,542,693)	$ (31,607,956)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation, amortization and impairment	10,051	6,677
Loss on impairment of goodwill	0	8,865,909
Equity-based compensation expense	524,838	796,803
Grant receivable writeoff	130,000
Change in fair value of warrant liability	0	(14,454)
In-process research and development technology	0	1,987,900
Changes in operating assets and liabilities:
Grants receivable	1,480,490	0
Prepaid expenses and other current assets	807,770	202,538
Accounts payable	(2,255,477)	1,312,735
Accrued expenses and other current liabilities	(1,001,116)	854,527
Net cash (used in) operating activities	(12,846,137)	(17,595,321)
Investing activities
Purchase in-process research and development technology	0	(1,500,000)
Net cash used in investing activities	0	(1,500,000)
Financing activities
Proceeds from issuance of equity securities	6,920,529	1,987,376
Payments on note payable	(280,917)	0
Net cash provided by financing activities	6,639,612	1,987,376
Net decrease in cash, cash equivalents and restricted cash	(6,206,525)	(17,107,945)
Cash, cash equivalents and restricted cash at beginning of period	12,106,435	29,214,380
Cash, cash equivalents and restricted cash at end of period	5,899,910	12,106,435
Supplemental disclosure of cash flow information:
Cash paid for interest	14,754	0
Non-cash investing and financing activities:
Common stock issued for in-process research and development technology		487,900
Accrued cost for shares issued for cash		2,500
Insurance premium financed by note payable	$ 570,560

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid clinical trial expenses		$ 0	$ 11,185
Prepaid insurance	$ 419,602	468,495	624,612
Other prepaid and current assets	119,015	151,268	167,576
Total prepaid expenses and other current assets	$ 538,617	$ 619,763	$ 803,373

EQUITY-BASED COMPENSATION - Narrative (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options granted (shares)			0	6,420
Fair value	$ 100,000			$ 500,000
Unrecognized compensation cost, options	$ 100,000	$ 400,000	$ 300,000	$ 800,000
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issued, weighted average grant date fair value (in dollar per share)		$ 12.56
Fair value of awards		$ 76,679
Restricted Stock and Restricted Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
Restricted Stock and Restricted Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options granted (shares)	21,125	0
Stock options, contractual term	10 years		10 years
Unrecognized compensation cost, recognition period	9 months		1 year 1 month 9 days
Employee Stock Option \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year		1 year
Employee Stock Option \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years		4 years
Employees \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		1,525
Officers and Directors \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		4,580
2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares remaining available for grant of stock awards (shares)	9,844		10,542	5,904

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Impairment charges of long-lived assets			$ 0	$ 0
Loss on impairment of goodwill			$ 0	$ 8,865,909
Antidilutive securities excluded from computation of earnings per share (shares)	1,047,070	1,370,516	1,366,892	88,080

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets at September 30, 2024 and December 31, 2023 consisted of the following:


	September 30, 2024		December 31, 2023
Insurance	$	419,602	$	468,495

Other prepaid and current assets	119,015		151,268
Total prepaid expenses and other current assets	$	538,617	$	619,763

Prepaid expenses and other current assets at December 31, 2023 and 2022 consisted of the following:


	December 31,
	2023		2022
Prepaid clinical trial expenses	$	—	$	11,185
Prepaid insurance	468,495		624,612

Other prepaid and current assets	151,268		167,576
Total prepaid expenses and other current assets	$	619,763	$	803,373

STOCKHOLDERS' EQUITY - Narrative (Details)

3 Months Ended

9 Months Ended

12 Months Ended

Jun. 14, 2024

$ / shares

May 11, 2023

USD ($)

$ / shares

Oct. 14, 2022

$ / shares

Apr. 26, 2022

USD ($)

Apr. 22, 2022

$ / shares

Jul. 02, 2021

USD ($)

Feb. 05, 2021

USD ($)

Sep. 30, 2024

USD ($)

$ / shares

Jun. 30, 2024

USD ($)

Mar. 31, 2024

USD ($)

Sep. 30, 2023

USD ($)

Jun. 30, 2023

USD ($)

Mar. 31, 2023

USD ($)

Sep. 30, 2024

USD ($)

$ / shares

Sep. 30, 2023

USD ($)

Dec. 31, 2023

USD ($)

$ / shares

Dec. 31, 2022

USD ($)

$ / shares

May 31, 2023

$ / shares

Apr. 30, 2022

$ / shares

Dec. 31, 2020

$ / shares

Class of Stock [Line Items]

Conversion ratio

0.125

0.04

Preferred stock, par value (usd per share)

$ 0.0001

Shares issued, value | $

$ 1,461,342

$ 65,080

$ 38

$ 59

$ 6,608,790

$ 311,681

$ 6,920,529

$ 1,984,876

Common stock, par value (usd per share)

$ 0.0001

Warrants outstanding (in shares) | shares

1,015,385

1,355,600

1,015,385

1,355,600

74,689

Common Stock issued for in-process research and development technology | $

$ 487,900

Exercise price (in dollar per share)

$ 236.40

Warrants and rights outstanding, term

5 years 6 months

5 years

Warrants and rights exercisable, term

6 months

Warrants exercised (in shares) | shares

Pre-Funded Warrant

Class of Stock [Line Items]

Warrants outstanding (in shares) | shares

340,000

1,355,598

340,000

Exercise price (in dollar per share)

$ 0.0008

$ 0.0001

Series A-1 Warrants

Class of Stock [Line Items]

Exercise price (in dollar per share)

$ 11.20

Warrants and rights outstanding, term

5 years 6 months

Series A-2 Warrants

Class of Stock [Line Items]

Warrants and rights outstanding, term

18 months

H.C Wainwright & Co., LLC Warrants

Class of Stock [Line Items]

Number of shares called by warrants (in shares) | shares

31,818

Exercise price (in dollar per share)

$ 16.50

Warrants and rights outstanding, term

5 years 6 months

Warrants exercised (in shares) | shares

Maximum

Class of Stock [Line Items]

Exercise price (in dollar per share)

$ 230

Maximum | Inducement Warrants

Class of Stock [Line Items]

Exercise price (in dollar per share)

$ 236.40

Private Placement

Class of Stock [Line Items]

Issuance of equity securities, net (in shares) | shares

41,250

Common stock, par value (usd per share)

$ 0.0001

Proceeds from issuance or sale of equity | $

$ 6,000,000

Private Placement | Pre-Funded Warrant

Class of Stock [Line Items]

Warrants outstanding (in shares) | shares

413,296

Private Placement | Series A-1 Warrants

Class of Stock [Line Items]

Number of shares called by warrants (in shares) | shares

454,546

Private Placement | Series A-2 Warrants

Class of Stock [Line Items]

Number of shares called by warrants (in shares) | shares

454,546

Private Placement | Share And Accompanying Common Stock Warrants

Class of Stock [Line Items]

Class of warrant or right purchase price per warrant or right (in dollar per share)

$ 13.2

Private Placement | Pre-Funded Warrant And Accompanying Common Stock Warrants

Class of Stock [Line Items]

Class of warrant or right purchase price per warrant or right (in dollar per share)

$ 13.1992

Purchase Agreement

Class of Stock [Line Items]

Issuance of equity securities, net (in shares) | shares

41,250

Common stock, par value (usd per share)

$ 0.0001

Proceeds from issuance or sale of equity | $

$ 6,000,000

Proceeds | $

$ 2,300,000

Purchase Agreement | Pre-Funded Warrant

Class of Stock [Line Items]

Warrants outstanding (in shares) | shares

413,296

Purchase Agreement | Series A-1 Warrants

Class of Stock [Line Items]

Number of shares called by warrants (in shares) | shares

454,546

Purchase Agreement | Series A-2 Warrants

Class of Stock [Line Items]

Number of shares called by warrants (in shares) | shares

454,546

Purchase Agreement | Share And Accompanying Common Stock Warrants

Class of Stock [Line Items]

Class of warrant or right purchase price per warrant or right (in dollar per share)

$ 13.20

Purchase Agreement | Pre-Funded Warrant And Accompanying Common Stock Warrants

Class of Stock [Line Items]

Class of warrant or right purchase price per warrant or right (in dollar per share)

$ 13.1992

Common Stock (1)

Class of Stock [Line Items]

Shares issued, value | $

$ 80

^[1]

$ 10

^[1]

$ 5

^[1]

$ 7

^[1]

$ 11

^[1]

$ 2

^[1]

$ 20

^[2]

$ 5

^[2]

Issuance of equity securities, net (in shares) | shares

799,980

^[1]

101,873

^[1]

47,000

^[1]

73,296

^[1]

110,472

^[1]

17,812

^[1]

201,580

^[2]

46,697

^[2]

Common stock, par value (usd per share)

$ 0.0001

Common stock issued for in-process research and development technology (in shares) | shares

^[2]

5,000

Common Stock (1) | Pre-Funded Warrant

Class of Stock [Line Items]

Issuance of equity securities, net (in shares) | shares

340,000

73,296

Common Stock (1) | ATM

Class of Stock [Line Items]

Shares issued, value | $

$ 25,000,000

$ 6,300,000

$ 1,700,000

Issuance of equity securities, net (in shares) | shares

608,949

87,034

Common Stock (1) | Purchase Agreement

Class of Stock [Line Items]

Price per share (in dollar per share)

$ 50

Warrant

Class of Stock [Line Items]

Exercise price (in dollar per share)

$ 67.98

Warrant | Purchase Agreement

Class of Stock [Line Items]

Number of shares issued (in shares) | shares

35,023

Sale of stock, percentage of share In transaction

75.00%

Exercise price (in dollar per share)

$ 67.98

Warrant | Securities Purchase Agreement

Class of Stock [Line Items]

Exercise price (in dollar per share)

$ 67.98

[1]	Share and per share amounts have been restated to reflect the 1-for-8 reverse stock split effected in June 14, 2024 on retroactive basis for all periods presented.
[2]	Share and per share amounts have been recast to reflect the 1-for-8 reverse stock split effected in June 14, 2024 on retroactive basis for all periods presented.

INCOME TAX - Narrative (Details) - Federal $ in Millions	Dec. 31, 2023 USD ($)
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 29.3
Research and development tax credit
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	$ 3.4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical)	Jun. 14, 2024	Oct. 14, 2022
Statement of Stockholders' Equity [Abstract]
Conversion ratio	0.125	0.04

GRANTS RECEIVABLE	9 Months Ended	12 Months Ended
GRANTS RECEIVABLE	Sep. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
GRANTS RECEIVABLE	GRANT RECEIVABLE FROM CPRIT Grants receivable balances are zero at September 30, 2024 and December 31, 2023. During the nine months ended September 30, 2024 and 2023, the Company received $0.1 million and $1.5 million from CPRIT, respectively. Since inception, the Company has received approximately $16.1 million under the grant. The grant was closed in 2023.	GRANTS RECEIVABLE Grants receivable represents qualifying costs incurred where there is reasonable assurance that conditions of the grant have been met but the corresponding funds have not been received as of the reporting date. Grants receivable balances were $0 as of December 31, 2023 and $1.6 million at December 31, 2022, respectively. The Company received $1.5 million from the Cancer Prevention and Research Institute of Texas on February 15, 2023.

ORGANIZATION AND OPERATIONS	9 Months Ended	12 Months Ended
ORGANIZATION AND OPERATIONS	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND OPERATIONS	ORGANIZATION AND OPERATIONS Nature of Business Salarius Pharmaceuticals, Inc. (“Salarius” or the “Company”), together with its subsidiaries, Salarius Pharmaceuticals, LLC, Flex Innovation Group LLC, and TK Pharma, Inc., is a clinical-stage biopharmaceutical company focused on developing effective treatments for cancers with high, unmet medical need. Specifically, the Company is concentrated on developing treatments for cancers caused by dysregulated gene expression, i.e., genes that are incorrectly turned on or off. The Company has two classes of drugs that address gene dysregulation: targeted protein inhibitors and targeted protein degraders. The Company’s technologies have the potential to work in both liquid and solid tumors. The Company’ current pipeline consists of two small molecule drugs: 1) SP-3164, a targeted protein degrader, and 2) seclidemstat (SP-2577), a targeted protein inhibitor. The Company is located in Houston, Texas. On August 8, 2023, the Company announced that it retained Canaccord Genuity, LLC to lead a comprehensive review of strategic alternatives focusing on maximizing stockholder value, including but not limited to, an acquisition, merger, reverse merger, divestiture of assets, licensing, or other strategic transactions involving the Company. In connection with the evaluation of strategic alternatives and in order to extend Company resources, the Company implemented multiple cost-savings plans to extend the Company’s expected cash runway into the first half of 2025. Going Concern Salarius has no products approved for commercial sale, has not generated any revenue from product sales to date and has suffered recurring losses from operations since its inception. The lack of revenue from product sales to date and recurring losses from operations since its inception raise substantial doubt as to the Company’s ability to continue as a going concern. The accompanying financial statements are prepared using accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities should the Company be unable to continue as a going concern. Based on Salarius’ expected cash requirements, Salarius believes that there is substantial doubt that its existing cash and cash equivalents, will be sufficient to fund its operations through one year from the financial statements’ issuance date. The Company may attempt to obtain additional capital through the sale of equity securities in one or more offerings or through issuances of debt instruments, and may also consider new collaborations or selectively partnering its technology. However, the Company cannot provide any assurance that it will be successful in accomplishing any of its plans. Although the Company is currently exploring various strategic alternatives, these strategic alternatives may not be successful in the next several months prior to its cash position getting to the point that it will need to pursue the winding down and dissolution of the Company. If the Company does not raise capital or successfully engage a strategic partner before the first half of 2025, it will be forced to cease operations, liquidate assets and possibly seek bankruptcy protection or engage in a similar process. Reverse Stock Splits On June 14, 2024, the Company filed a Certificate of Amendment to the Company’s restated certificate of incorporation, as amended, with the Secretary of State of the State of Delaware to effect a 1-for-8 reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share (the “Reverse Stock Split”) which became effective as of June 14, 2024. All historical share and per share amounts reflected throughout this report have been adjusted to reflect the Reverse Stock Split. On October 14, 2022, the Company filed a Certificate of Amendment to the Company’s restated certificate of incorporation with the Secretary of State of the State of Delaware to effect a 1-for-25 reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share (the “Reverse Stock Split”) which became effective as of October 14, 2022. All historical share and per share amounts reflected throughout this report have been adjusted to reflect the Reverse Stock Split.	ORGANIZATION AND OPERATIONS Nature of Business Salarius Pharmaceuticals, Inc. (“Salarius” or the “Company”), together with its subsidiaries, Salarius Pharmaceuticals, LLC, Flex Innovation Group LLC, and TK Pharma, Inc., is a clinical-stage biopharmaceutical company focused on developing effective treatments for cancers with high, unmet medical need. Specifically, the Company is focused on treatments for cancers caused by dysregulated gene expression, i.e., genes that are incorrectly turned on or off. The Company is focused on two classes of drugs that address gene dysregulation: targeted protein inhibitors and targeted protein degraders. The Company’s technologies have the potential to work in both liquid and solid tumors. The Company’s current pipeline consists of two small molecule drugs: 1) SP-3164, a targeted protein degrader, and 2) seclidemstat (SP-2577), a targeted protein inhibitor. The Company is located in Houston, Texas. Going Concern Salarius has no products approved for commercial sale, has not generated any revenue from product sales to date and has suffered recurring losses from operations since its inception. The lack of revenue from product sales to date and recurring losses from operations since its inception raise substantial doubt as to the Company’s ability to continue as a going concern. The accompanying financial statements are prepared using accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities should the Company be unable to continue as a going concern. Salarius will require substantial additional capital to fund its research and development expenses related to its pipeline including SP-3164 and seclidemstat. Based on Salarius’ expected cash requirements, Salarius believes that there is substantial doubt that its existing cash and cash equivalents, will be sufficient to fund its operations through one year from the financial statements’ issuance date. The Company may attempt to obtain additional capital through the sale of equity securities in one or more offerings or through issuances of debt instruments, and may also consider new collaborations or selectively partnering its technology. However, the Company cannot provide any assurance that it will be successful in accomplishing any of its plans. Although the Company is currently exploring various strategic alternatives, these strategic alternatives may not be successful in the next several months prior to its cash position getting to the point that it will need to pursue the winding down and dissolution of the Company. If the Company does not raise capital or successfully engage a strategic partner before the first half of 2025, it will be forced to cease operations, liquidate assets and possibly seek bankruptcy protection or engage in a similar process. Reverse Stock Splits On June 14, 2024, the Company filed a Certificate of Amendment to the Company’s restated certificate of incorporation, as amended, with the Secretary of State of the State of Delaware to effect a 1-for-8 reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share (the “Reverse Stock Split”) which became effective as of June 14, 2024. All historical share and per share amounts reflected throughout this report have been adjusted to reflect the Reverse Stock Split. On October 14, 2022, the Company filed a Certificate of Amendment to the Company’s restated certificate of incorporation with the Secretary of State of the State of Delaware to effect a 1-for-25 reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share (the “Reverse Stock Split”) which became effective as of October 14, 2022. All historical share and per share amounts reflected throughout this report have been adjusted to reflect the Reverse Stock Split.

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets at September 30, 2024 and December 31, 2023 consisted of the following:


	September 30, 2024		December 31, 2023
Insurance	$	419,602	$	468,495

Other prepaid and current assets	119,015		151,268
Total prepaid expenses and other current assets	$	538,617	$	619,763

Prepaid expenses and other current assets at December 31, 2023 and 2022 consisted of the following:


	December 31,
	2023		2022
Prepaid clinical trial expenses	$	—	$	11,185
Prepaid insurance	468,495		624,612

Other prepaid and current assets	151,268		167,576
Total prepaid expenses and other current assets	$	619,763	$	803,373

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Narrative (Details) - USD ($)	Sep. 30, 2024	Jul. 31, 2024	Dec. 31, 2023	Jul. 31, 2023	Dec. 31, 2022
Short-term Debt [Line Items]
Notes payable	$ 328,849		$ 289,643		$ 0
Notes Payable
Short-term Debt [Line Items]
Principal amount		$ 400,000		$ 600,000
Interest rate		9.74%		7.87%

ORGANIZATION AND OPERATIONS	9 Months Ended	12 Months Ended
ORGANIZATION AND OPERATIONS	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND OPERATIONS	ORGANIZATION AND OPERATIONS Nature of Business Salarius Pharmaceuticals, Inc. (“Salarius” or the “Company”), together with its subsidiaries, Salarius Pharmaceuticals, LLC, Flex Innovation Group LLC, and TK Pharma, Inc., is a clinical-stage biopharmaceutical company focused on developing effective treatments for cancers with high, unmet medical need. Specifically, the Company is concentrated on developing treatments for cancers caused by dysregulated gene expression, i.e., genes that are incorrectly turned on or off. The Company has two classes of drugs that address gene dysregulation: targeted protein inhibitors and targeted protein degraders. The Company’s technologies have the potential to work in both liquid and solid tumors. The Company’ current pipeline consists of two small molecule drugs: 1) SP-3164, a targeted protein degrader, and 2) seclidemstat (SP-2577), a targeted protein inhibitor. The Company is located in Houston, Texas. On August 8, 2023, the Company announced that it retained Canaccord Genuity, LLC to lead a comprehensive review of strategic alternatives focusing on maximizing stockholder value, including but not limited to, an acquisition, merger, reverse merger, divestiture of assets, licensing, or other strategic transactions involving the Company. In connection with the evaluation of strategic alternatives and in order to extend Company resources, the Company implemented multiple cost-savings plans to extend the Company’s expected cash runway into the first half of 2025. Going Concern Salarius has no products approved for commercial sale, has not generated any revenue from product sales to date and has suffered recurring losses from operations since its inception. The lack of revenue from product sales to date and recurring losses from operations since its inception raise substantial doubt as to the Company’s ability to continue as a going concern. The accompanying financial statements are prepared using accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities should the Company be unable to continue as a going concern. Based on Salarius’ expected cash requirements, Salarius believes that there is substantial doubt that its existing cash and cash equivalents, will be sufficient to fund its operations through one year from the financial statements’ issuance date. The Company may attempt to obtain additional capital through the sale of equity securities in one or more offerings or through issuances of debt instruments, and may also consider new collaborations or selectively partnering its technology. However, the Company cannot provide any assurance that it will be successful in accomplishing any of its plans. Although the Company is currently exploring various strategic alternatives, these strategic alternatives may not be successful in the next several months prior to its cash position getting to the point that it will need to pursue the winding down and dissolution of the Company. If the Company does not raise capital or successfully engage a strategic partner before the first half of 2025, it will be forced to cease operations, liquidate assets and possibly seek bankruptcy protection or engage in a similar process. Reverse Stock Splits On June 14, 2024, the Company filed a Certificate of Amendment to the Company’s restated certificate of incorporation, as amended, with the Secretary of State of the State of Delaware to effect a 1-for-8 reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share (the “Reverse Stock Split”) which became effective as of June 14, 2024. All historical share and per share amounts reflected throughout this report have been adjusted to reflect the Reverse Stock Split. On October 14, 2022, the Company filed a Certificate of Amendment to the Company’s restated certificate of incorporation with the Secretary of State of the State of Delaware to effect a 1-for-25 reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share (the “Reverse Stock Split”) which became effective as of October 14, 2022. All historical share and per share amounts reflected throughout this report have been adjusted to reflect the Reverse Stock Split.	ORGANIZATION AND OPERATIONS Nature of Business Salarius Pharmaceuticals, Inc. (“Salarius” or the “Company”), together with its subsidiaries, Salarius Pharmaceuticals, LLC, Flex Innovation Group LLC, and TK Pharma, Inc., is a clinical-stage biopharmaceutical company focused on developing effective treatments for cancers with high, unmet medical need. Specifically, the Company is focused on treatments for cancers caused by dysregulated gene expression, i.e., genes that are incorrectly turned on or off. The Company is focused on two classes of drugs that address gene dysregulation: targeted protein inhibitors and targeted protein degraders. The Company’s technologies have the potential to work in both liquid and solid tumors. The Company’s current pipeline consists of two small molecule drugs: 1) SP-3164, a targeted protein degrader, and 2) seclidemstat (SP-2577), a targeted protein inhibitor. The Company is located in Houston, Texas. Going Concern Salarius has no products approved for commercial sale, has not generated any revenue from product sales to date and has suffered recurring losses from operations since its inception. The lack of revenue from product sales to date and recurring losses from operations since its inception raise substantial doubt as to the Company’s ability to continue as a going concern. The accompanying financial statements are prepared using accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities should the Company be unable to continue as a going concern. Salarius will require substantial additional capital to fund its research and development expenses related to its pipeline including SP-3164 and seclidemstat. Based on Salarius’ expected cash requirements, Salarius believes that there is substantial doubt that its existing cash and cash equivalents, will be sufficient to fund its operations through one year from the financial statements’ issuance date. The Company may attempt to obtain additional capital through the sale of equity securities in one or more offerings or through issuances of debt instruments, and may also consider new collaborations or selectively partnering its technology. However, the Company cannot provide any assurance that it will be successful in accomplishing any of its plans. Although the Company is currently exploring various strategic alternatives, these strategic alternatives may not be successful in the next several months prior to its cash position getting to the point that it will need to pursue the winding down and dissolution of the Company. If the Company does not raise capital or successfully engage a strategic partner before the first half of 2025, it will be forced to cease operations, liquidate assets and possibly seek bankruptcy protection or engage in a similar process. Reverse Stock Splits On June 14, 2024, the Company filed a Certificate of Amendment to the Company’s restated certificate of incorporation, as amended, with the Secretary of State of the State of Delaware to effect a 1-for-8 reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share (the “Reverse Stock Split”) which became effective as of June 14, 2024. All historical share and per share amounts reflected throughout this report have been adjusted to reflect the Reverse Stock Split. On October 14, 2022, the Company filed a Certificate of Amendment to the Company’s restated certificate of incorporation with the Secretary of State of the State of Delaware to effect a 1-for-25 reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share (the “Reverse Stock Split”) which became effective as of October 14, 2022. All historical share and per share amounts reflected throughout this report have been adjusted to reflect the Reverse Stock Split.

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2024	Jun. 14, 2024	Dec. 31, 2023	Dec. 31, 2022	Oct. 14, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (usd per share)	$ 0.0001		$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000		10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0		0	0
Preferred stock, shares outstanding (in shares)	0		0	0
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000		100,000,000	100,000,000
Common stock, shares issued (in shares)	1,441,157		492,304
Common stock, shares outstanding (in shares)	1,441,157		492,304