Conduit Pharmaceuticals reported a net loss of $3.6 million for Q1 2024, compared to $1.7 million in Q1 2023, with cash and equivalents of $1.8 million as of March 31, 2024. Operating expenses increased to $3.0 million, driven by $2.8 million in general and administrative costs and $0.1 million in research and development expenses focused on developing co-crystals of AZD1656.The company announced leadership changes, with CFO Adam Sragovicz resigning effective May 15, 2024, to be succeeded by James Bligh as Interim CFO. Additionally, board member Ms. McNealey resigned effective May 13, 2024. The company secured a $5 million commitment letter from major shareholder Corvus Capital in March 2024, allowing for draws up to $500,000 with a 9.5% annual interest rate.Management expressed substantial doubt about the company's ability to continue as a going concern, citing the need for additional funding to support operations. The company plans to pursue additional financing through public or private equity offerings and debt financing while implementing cost reduction measures. Research efforts remain focused on developing treatments for autoimmune diseases and male infertility through partnerships with St George Street Capital.

Conduit Pharmaceuticals reported a net loss of $3.6 million for Q1 2024, compared to $1.7 million in Q1 2023, with cash and equivalents of $1.8 million as of March 31, 2024. Operating expenses increased to $3.0 million, driven by $2.8 million in general and administrative costs and $0.1 million in research and development expenses focused on developing co-crystals of AZD1656.The company announced leadership changes, with CFO Adam Sragovicz resigning effective May 15, 2024, to be succeeded by James Bligh as Interim CFO. Additionally, board member Ms. McNealey resigned effective May 13, 2024. The company secured a $5 million commitment letter from major shareholder Corvus Capital in March 2024, allowing for draws up to $500,000 with a 9.5% annual interest rate.Management expressed substantial doubt about the company's ability to continue as a going concern, citing the need for additional funding to support operations. The company plans to pursue additional financing through public or private equity offerings and debt financing while implementing cost reduction measures. Research efforts remain focused on developing treatments for autoimmune diseases and male infertility through partnerships with St George Street Capital.