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PREPAID EXPENSES AND OTHER CURRENT ASSETS
 9 Months Ended
Sep. 30, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS PREPAID EXPENSES AND OTHER CURRENT ASSETS
Prepaid expenses and other current assets at September 30, 2025 and December 31, 2024 consisted of the following:
 September 30, 2025December 31, 2024
Note Receivable from Decoy$200,000 $— 
Insurance69,319 287,785 
Deferred offering cost904,990 221,580 
Other prepaid and current assets80,949 43,669 
Total prepaid expenses and other current assets$1,255,258 $553,034 
On September 2, 2025, Salarius issued a promissory note (“Note 1”) to Decoy in the principal amount of $200,000. Note 1 bears interest at an annual rate of 0% and initially was set to mature on the earlier of (i) three business days following the closing of the transactions contemplated by the Merger Agreement and (ii) October 17, 2025. In the event of default, a penalty amount of $75,000 will be added to the principal balance, and interest will accrue and be payable on the revised principal amount at an annual rate of 18%. Salarius further extended the Note 1 maturity date to the earlier of three business days following the (i) closing of transaction contemplated by the Merger Agreement and (ii) November 30, 2025. Note 1 matures on November 17, 2025.
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 million and $0.2 million at September 30, 2025 and December 31, 2024, respectively.
The Company recorded certain legal, professional accounting and other third-party fees that are directly associated with in-process equity financings as deferred offering costs until such financings are consummated. After consummation of the equity financing, these costs are recorded as a reduction of additional paid-in capital generated as a result of the offering.