Conduit Pharmaceuticals reported a net loss of $5.4 million for Q2 2024, compared to a $1.7 million loss in Q2 2023. Revenue remained at zero while operating expenses increased to $3.1 million, primarily driven by higher general and administrative costs. Research and development expenses were $25,000 for the quarter as the company focused on developing co-crystals of AZD1656.The company significantly expanded its pipeline through a major licensing agreement with AstraZeneca in August 2024, gaining exclusive rights to HK-4 Glucokinase activators AZD1656 and AZD5658 for all indications, as well as myeloperoxidase inhibitor AZD5904 for male infertility treatment. As consideration, Conduit issued 9.5 million shares to AstraZeneca and paid a $1.5 million upfront fee.As of June 30, 2024, Conduit had cash and cash equivalents of $0.2 million, down from $4.2 million at year-end 2023. The company secured additional funding through a $2.65 million senior secured note in August 2024 but noted substantial doubt about its ability to continue as a going concern without raising additional capital. Management is pursuing various financing options including public or private equity/debt offerings.

Conduit Pharmaceuticals reported a net loss of $5.4 million for Q2 2024, compared to a $1.7 million loss in Q2 2023. Revenue remained at zero while operating expenses increased to $3.1 million, primarily driven by higher general and administrative costs. Research and development expenses were $25,000 for the quarter as the company focused on developing co-crystals of AZD1656.The company significantly expanded its pipeline through a major licensing agreement with AstraZeneca in August 2024, gaining exclusive rights to HK-4 Glucokinase activators AZD1656 and AZD5658 for all indications, as well as myeloperoxidase inhibitor AZD5904 for male infertility treatment. As consideration, Conduit issued 9.5 million shares to AstraZeneca and paid a $1.5 million upfront fee.As of June 30, 2024, Conduit had cash and cash equivalents of $0.2 million, down from $4.2 million at year-end 2023. The company secured additional funding through a $2.65 million senior secured note in August 2024 but noted substantial doubt about its ability to continue as a going concern without raising additional capital. Management is pursuing various financing options including public or private equity/debt offerings.