Conduit Pharms Stock Price, News & Analysis

Conduit Pharmaceuticals (Nasdaq: CDT) has completed the first phase of its strategic collaboration with Sarborg , initiated in December 2024, to integrate artificial intelligence and cybernetics technology into its operations. The partnership aims to revolutionize drug development through AI-driven processes focused on drug repurposing, discovery acceleration, solid-form identification, and clinical trial monitoring optimization.

The completed initial milestones include Teach-in Sessions and Proprietary Inputs Validation, customized for Conduit's portfolio. This integration is expected to enhance the development of the company's proprietary assets, including AZD1656, AZD5904, AZD5658, CDT1656, and AZD1656 cocrystals. The company anticipates that AI implementation will lead to shorter development timelines, reduced costs, and improved predictability of successful outcomes, while maintaining focus on its planned Phase 2 clinical trials in auto-immune disorders.

Conduit Pharmaceuticals (Nasdaq: CDT) has announced a 1-for-100 reverse stock split effective January 24, 2025, at 5:00 pm Eastern Time. The company's common stock will begin trading on a split-adjusted basis on Nasdaq on January 27, 2025, maintaining its 'CDT' ticker symbol.

The reverse split aims to increase the stock price to meet Nasdaq's $1.00 minimum bid price requirement for continued listing. Every 100 shares will be combined into one share, reducing outstanding shares to approximately 1.5 million. The par value remains at $0.0001 per share.

Proportional adjustments will be made to equity awards, convertible securities, and warrants. VStock Transfer, will serve as the exchange agent. No fractional shares will be issued, with stockholders entitled to fractional shares receiving proportional cash payments.

Conduit Pharmaceuticals (Nasdaq: CDT) has entered into a strategic services agreement with Agility Life Sciences to develop new solid oral-dosage forms for its autoimmune pipeline. Agility, known for its drug formulation expertise, will help Conduit create enhanced oral dosage forms for future clinical trials. These formulations are protected by new composition-of-matter intellectual property (IP) and aim to meet patient preferences and disease-specific needs.

The collaboration will leverage Agility's extensive formulation knowledge to maximize the market potential of Conduit's assets. Conduit's pipeline includes several Phase 2-ready candidates with clinically tested oral formulations, enabling efficient progression into Phase 2 trials. This dual-track approach of ongoing clinical trials and formulation development aims to strengthen market protection, enhance market value, and optimize future licensing opportunities.

Conduit Pharmaceuticals (Nasdaq: CDT) has partnered with SARBORG to implement AI and cybernetics technology across its drug development operations. The agreement focuses on enhancing drug repurposing, discovery, solid-form identification, and clinical trial monitoring processes. The collaboration aims to reduce human error, lower costs, and improve efficiency in critical decision-making processes.

Through this partnership, Conduit will access predictive models and dashboards for real-time data evaluation of drug candidates and clinical trials. The company will retain perpetual, non-exclusive, royalty-free, and assignable rights to any platform developed by Sarborg. The implementation of these AI-driven solutions is expected to accelerate growth and maintain Conduit's competitive edge in the pharmaceutical sector.

Conduit Pharmaceuticals (Nasdaq: CDT) has received approval from the Japan Patent Office for a composition of matter patent for its lead asset, AZD1656, a Glucokinase Activator targeting autoimmune disorders. This approval follows a recent patent grant in Australia, strengthening the company's intellectual property portfolio. The Japanese patent approval is particularly significant as Japan represents one of the world's largest pharmaceutical markets, enhancing Conduit's global patent coverage and potential out-licensing opportunities.

Conduit Pharmaceuticals (Nasdaq: CDT) has appointed Simon Fry to its Board of Directors, effective December 18, 2024. Fry brings over 30 years of investment banking experience, having served as CEO at Crosby Asset Management and Managing Director at Nomura. At Nomura, he established the Asset Investment Group and led the International Markets Division. Previously, he spent 14 years at Credit Suisse First Boston, where he developed the Asset Trading Group. Based in Los Angeles, Fry will serve on both the Audit Committee and Compensation Committee, contributing his expertise in capital markets and strategic asset management to support Conduit's growth objectives.

Conduit Pharmaceuticals (Nasdaq: CDT) has filed two new patent applications for its lead clinical candidate, AZD1656, including a novel composition of matter filing for CDT1656. The new asset combines AZD1656 with a second compound targeting autoimmune disorders. This strategic move aims to expand Conduit's market opportunities in the autoimmune therapeutics market, currently valued at $214.54 billion and expected to reach $339 billion by 2030 with a 7.90% CAGR. The company's strategy focuses on building valuable IP and positioning itself for future licensing opportunities in the autoimmune sector.

Conduit Pharmaceuticals (Nasdaq: CDT) announced a significant debt restructuring and new financing arrangements. The company has restructured its $2.65 million loan note with Nirland , removing restrictive clauses that fundraising flexibility. The note is now convertible at $0.10 per share. Additionally, Conduit secured $1.2 million through two $600,000 promissory notes from third parties for accounts payable requirements. The company can now access its At-The-Market (ATM) facility with A.G.P., effective November 1, 2024, providing flexible capital for note repayment, operational and clinical objectives.

Conduit Pharmaceuticals (Nasdaq: CDT) has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference, scheduled for September 9-11, 2024. The company's Founder and CEO, Dr. David Tapolczay, will deliver a virtual presentation available on-demand starting September 9th at 7:00 am ET/12:00 pm BST.

Dr. Tapolczay will also be available for in-person, one-on-one investor meetings throughout the conference at the Lotte New York Palace Hotel. Interested parties can register for the presentation via H.C. Wainwright's website. Additionally, a webcast of the presentation will be accessible on Conduit's company website in the Events section.