Conduit Pharmaceuticals Inc. (Conduit Pharmaceuticals), a company specializing in the development of clinical assets, has filed a registration statement with the Securities and Exchange Commission (SEC) on October 23, 2024, for the sale of common stock amounting to up to $3,556,586. The sales are to be conducted through an 'at the market' offering, with A.G.P./Alliance Global Partners (A.G.P.) acting as the sales agent. The shares will be sold on The Nasdaq Global Market under the symbol 'CDT', where Conduit Pharmaceuticals' stock is already listed. The last reported sale price of the company's common stock was $0.114 per share as of October 16, 2024. The proceeds from the sale are intended for working capital and general corporate purposes, including the initiation...Show More

Conduit Pharmaceuticals Inc. (Conduit Pharmaceuticals), a company specializing in the development of clinical assets, has filed a registration statement with the Securities and Exchange Commission (SEC) on October 23, 2024, for the sale of common stock amounting to up to $3,556,586. The sales are to be conducted through an 'at the market' offering, with A.G.P./Alliance Global Partners (A.G.P.) acting as the sales agent. The shares will be sold on The Nasdaq Global Market under the symbol 'CDT', where Conduit Pharmaceuticals' stock is already listed. The last reported sale price of the company's common stock was $0.114 per share as of October 16, 2024. The proceeds from the sale are intended for working capital and general corporate purposes, including the initiation of Phase 2a clinical trials for AZD1656, targeting systemic lupus erythematosus and ANCA-associated vasculitis. The offering is made under a shelf registration process, and the company has stated that it will not pay dividends for the foreseeable future. The offering may result in dilution for current shareholders, and the actual number of shares sold will depend on market conditions.