| Nevada (State or other jurisdiction of incorporation or organization) | | | 2834 (Primary Standard Industrial Classification Code Number) | | | 87-0449967 (I.R.S. Employer Identification Number) | |
| Large accelerated filer ☐ | | | Accelerated filer ☐ | |
| Non-accelerated filer ☒ | | | Smaller reporting company ☒ | |
| | | | Emerging growth company ☐ | |
| | | | | 1 | | | |
| | | | | 3 | | | |
| | | | | 11 | | | |
| | | | | 12 | | | |
| | | | | 13 | | | |
| | | | | 14 | | | |
| | | | | 18 | | | |
| | | | | 20 | | | |
| | | | | 26 | | | |
| | | | | 32 | | | |
| | | | | 33 | | | |
| | | | | 33 | | | |
| | | | | 33 | | | |
| | | | | 33 | | | |
| | | | | 34 | | |
| Product | | | Indication | | | Development Phase | | | Development Status | |
| SLS-002 Intranasal Racemic Ketamine | | | Acute Suicidal Ideation and Behavior (“ASIB”) in Major Depressive Disorder (“MDD”) | | | Phase II | | | Completed open-label patient enrollment and announced the initial topline data from Part 1 of the proof-of-concept (“PoC”) study on May 17, 2021; enrollment of Part 2 of a Phase II study closed in June 2023; topline data for Part 2 announced on September 20, 2023 | |
| SLS-005 IV Trehalose | | | Amyotrophic Lateral Sclerosis (“ALS”) | | | Phase II/III | | | Completed enrollment of final participants in February 2023 in the registrational study; data readout expected in the first quarter of 2024 | |
| | | | Spinocerebellar Ataxia (“SCA”) | | | Phase IIb/III | | | Announced dosing of the first participant in the registrational study in October 2022; enrollment of additional patients temporarily paused on March 29, 2023 | |
| | | | Huntington’s Disease (“HD”) and Alzheimer’s Disease (“AD”) | | | Phase II | | | Obtaining biomarker activity | |
| Product | | | Indication | | | Development Phase | | | Development Status | |
| SLS-004 | | | Parkinson’s Disease (“PD”) | | | Pre-IND | | | Preclinical in vivo studies ongoing; announced partial results from a study demonstrating downregulation of α-synuclein in December 2022; currently analyzing data while temporarily pausing additional spend | |
| Gene Therapy | | | | | | | | | | |
| SLS-007 | | | PD | | | Pre-IND | | | Preclinical study completed and analysis of the results ongoing; next steps for development of this program will be decided in concert with SLS-004 results and readouts, as both target the same pathway upstream; temporarily pausing additional spend | |
| Peptide Inhibitor | | | | | | | | | | |
| SLS-009 | | | HD, AD, ALS | | | Pre-IND | | | Preclinical in vivo studies ongoing | |
| | | Shares Beneficially Owned Prior to the Offering of Shares for Resale(1) | | | Maximum Number of Shares of Common Stock to be Offered for Resale Pursuant to this Prospectus | | | Shares Beneficially Owned After the Offering of Shares for Resale(1)(2) | | |||||||||||||||||||||
Name | | | Number | | | Percentage | | | Number | | | Number | | | Percentage | | |||||||||||||||
Armistice Capital Master Fund Ltd. | | | | | 1,276,596(3)(4) | | | | | | 9.33% | | | | | | 1,276,596(4)(5) | | | | | | 1,276,596(3) | | | | | | 8.54% | | |
Entities affiliated with The Lind Partners, LLC | | | | | 916,365(6)(7) | | | | | | 9.99% | | | | | | 1,276,596(7)(8) | | | | | | 916,365(9) | | | | | | 6.57% | | |
Sabby Volatility Warrant Master Fund, Ltd. | | | | | 718,514(10)(11) | | | | | | 4.99% | | | | | | 851,064(11)(12) | | | | | | 763,213(13) | | | | | | 4.99% | | |
TOTAL | | | | | — | | | | | | — | | | | | | 3,404,256 | | | | | | — | | | | | | — | | |
Name and Position(s) | | | Year | | | Salary | | | Option Awards(1) | | | Non-Equity Incentive Plan Compensation | | | All Other Compensation(2) | | | Total | | ||||||||||||||||||
Raj Mehra, Ph.D., Chairman, Chief Executive Officer, President | | | | | 2023 | | | | | $ | 586,964 | | | | | $ | 1,126,948 | | | | | | — | | | | | $ | 12,564 | | | | | $ | 1,726,476 | | |
| | | 2022 | | | | | $ | 561,688 | | | | | $ | 1,603,680 | | | | | $ | 280,844 | | | | | $ | 12,200 | | | | | $ | 2,458,412 | | | ||
Michael Golembiewski, Chief Financial Officer | | | | | 2023 | | | | | $ | 375,000 | | | | | $ | 458,467 | | | | | | — | | | | | $ | 13,200 | | | | | $ | 846,667 | | |
| | | 2022 | | | | | $ | 317,125 | | | | | $ | 616,800 | | | | | $ | 126,850 | | | | | $ | 10,852 | | | | | $ | 1,071,627 | | |
| | | | | | Option Awards | | | | | | | | | | | | | | | Stock Awards | | ||||||||||||||||||
Name | | | Grant Date | | | Number of Securities Underlying Unexercised Options Exercisable (#) | | | Number of Securities Underlying Unexercised Options Non-Exercisable (#) | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of Shares or Units of Stock That Have Not Vested (#) | | | Market Value of Shares or Unites of Stock That Have Not Vested ($) | | ||||||||||||||||||
Raj Mehra Ph.D. | | | January 6, 2020(1) | | | | | 23,858 | | | | | | 509 | | | | | $ | 42.60 | | | | | | 1/6/2030 | | | | | | — | | | | | | — | | |
| | | June 11, 2020(2) | | | | | 66,566 | | | | | | 9,510 | | | | | $ | 32.40 | | | | | | 6/11/2030 | | | | | | — | | | | | | — | | |
| | | March 15, 2021(3) | | | | | 26,348 | | | | | | 11,986 | | | | | $ | 129.30 | | | | | | 3/15/2031 | | | | | | — | | | | | | — | | |
| | | January 10, 2022(4) | | | | | 20,765 | | | | | | 22,569 | | | | | $ | 43.80 | | | | | | 1/10/2032 | | | | | | — | | | | | | — | | |
| | | March 30, 2023(6) | | | | | — | | | | | | 56,078 | | | | | $ | 20.76 | | | | | | 3/20/2033 | | | | | | — | | | | | | — | | |
| | | March 30, 2023(7) | | | | | 6,667 | | | | | | — | | | | | $ | 20.76 | | | | | | 3/20/2033 | | | | | | — | | | | | | — | | |
Michael Golembiewski | | | February 26, 2019(5) | | | | | 2,084 | | | | | | — | | | | | $ | 66.00 | | | | | | 2/26/2029 | | | | | | — | | | | | | — | | |
| | | January 6, 2020(1) | | | | | 3,263 | | | | | | 71 | | | | | $ | 42.60 | | | | | | 1/6/2030 | | | | | | — | | | | | | — | | |
| | | June 11, 2020(2) | | | | | 9,107 | | | | | | 1,301 | | | | | $ | 32.40 | | | | | | 6/11/2030 | | | | | | — | | | | | | — | | |
| | | March 15, 2021(3) | | | | | 4,354 | | | | | | 1,980 | | | | | $ | 129.30 | | | | | | 3/15/2031 | | | | | | — | | | | | | — | | |
| | | January 10, 2022(4) | | | | | 7,983 | | | | | | 8,684 | | | | | $ | 43.80 | | | | | | 1/10/2032 | | | | | | — | | | | | | — | | |
| | | March 30, 2023(6) | | | | | — | | | | | | 22,591 | | | | | $ | 20.76 | | | | | | 3/20/2033 | | | | | | — | | | | | | — | | |
| | | March 30, 2023(8) | | | | | 2,935 | | | | | | — | | | | | $ | 20.76 | | | | | | 3/20/2033 | | | | | | — | | | | | | — | | |
Name | | | Cash Compensation(1) | | | Option Grants(2) | | | Total | | |||||||||
Richard W. Pascoe | | | | $ | 53,500 | | | | | $ | 34,220 | | | | | $ | 87,720 | | |
Brian Lian, Ph.D. | | | | $ | 71,000 | | | | | $ | 34,220 | | | | | $ | 105,220 | | |
Daniel J. O’Connor, J.D. | | | | $ | 40,000 | | | | | $ | 34,220 | | | | | $ | 74,220 | | |
Margaret Dalesandro, Ph.D. | | | | $ | 55,500 | | | | | $ | 34,220 | | | | | $ | 89,720 | | |
Item | | | Amount | | |||
SEC registration fee | | | | $ | 512.52 | | |
Legal fees and expenses | | | | | 25,000 | | |
Accounting fees and expenses | | | | | 20,000 | | |
Printing, transfer agent fees and miscellaneous expenses | | | | | 10,000 | | |
Total | | | | $ | 55,512.52 | | |
| Signature | | | Title | | | Date | |
| /s/ Raj Mehra, Ph.D. Raj Mehra, Ph.D. | | | President, Chief Executive Officer, Chairman of the Board and Interim Chief Financial Officer (Principal Executive Officer) | | | February 2, 2024 | |
| /s/ Michael Golembiewski Michael Golembiewski | | | Chief Financial Officer (Principal Financial and Accounting Officer) | | | February 2, 2024 | |
| /s/ Margaret Dalesandro, Ph.D. Margaret Dalesandro, Ph.D. | | | Director | | | February 2, 2024 | |
| /s/ Brian Lian, Ph.D. Brian Lian, Ph.D. | | | Director | | | February 2, 2024 | |
| /s/ Daniel J. O’Connor, J.D. Daniel J. O’Connor, J.D. | | | Director | | | February 2, 2024 | |
| /s/ Richard W. Pascoe Richard W. Pascoe | | | Director | | | February 2, 2024 | |