Conduit Pharmaceuticals Inc. reported a net loss of $5.4 million for Q2 2024, compared to $2.1 million in Q2 2023, with total operating expenses increasing to $3.1 million from $1.3 million year-over-year. The company ended the quarter with $0.2 million in cash and cash equivalents, down from $4.2 million at the end of 2023, reflecting ongoing investments in research and development activities.The company recently strengthened its pipeline through a significant licensing agreement with AstraZeneca on August 7, 2024, gaining exclusive rights to HK-4 Glucokinase activators and a myeloperoxidase inhibitor. To support operations, Conduit secured a $2.65 million senior secured promissory note from Nirland Limited and issued 12.5 million shares of common stock.Management has identified the need for additional financing to fund operations for the next 12 months, with working capital requirements estimated at $17.1 million. The company received a Nasdaq deficiency notice on August 12, 2024, regarding its stock price falling below $1.00 per share minimum requirement, with until February 10, 2025, to regain compliance.

Conduit Pharmaceuticals Inc. reported a net loss of $5.4 million for Q2 2024, compared to $2.1 million in Q2 2023, with total operating expenses increasing to $3.1 million from $1.3 million year-over-year. The company ended the quarter with $0.2 million in cash and cash equivalents, down from $4.2 million at the end of 2023, reflecting ongoing investments in research and development activities.The company recently strengthened its pipeline through a significant licensing agreement with AstraZeneca on August 7, 2024, gaining exclusive rights to HK-4 Glucokinase activators and a myeloperoxidase inhibitor. To support operations, Conduit secured a $2.65 million senior secured promissory note from Nirland Limited and issued 12.5 million shares of common stock.Management has identified the need for additional financing to fund operations for the next 12 months, with working capital requirements estimated at $17.1 million. The company received a Nasdaq deficiency notice on August 12, 2024, regarding its stock price falling below $1.00 per share minimum requirement, with until February 10, 2025, to regain compliance.