Summary by Futu AI
Conduit Pharmaceuticals Inc. has filed Post-Effective Amendment No. 1 to its FORM S-1 REGISTRATION STATEMENT with the SEC on May 1, 2024. This amendment provides updated financial information and recent business activities, including the company's focus on developing pharmaceutical products for unmet medical needs. Conduit Pharmaceuticals completed a reverse recapitalization merger with Murphy Canyon Acquisition Corp. on September 22, 2023, and as a result, issued shares and warrants in a PIPE Financing deal worth $20 million. The company's stock and warrants are traded on Nasdaq under the tickers 'CDT' and 'CDTTW'. Despite not having paid any cash dividends and accumulating significant losses, Conduit Pharmaceuticals has secured a $5 million commitment from Corvus Capital for working capital to support operations for the next year. The...Show More