Conduit Pharmaceuticals Inc. (Conduit) reported its financial performance for the quarter ended June 30, 2024. Research and development expenses saw a 100% increase to $25,000, attributed to the development of AZD1656 co-crystals for autoimmune diseases. General and administrative expenses rose by 137% to $3.1 million, driven by higher salaries, stock compensation, and insurance costs. Other income and expenses netted a loss of $2.1 million, mainly due to the issuance of warrants. Interest expense was $119,000. Overall, the company experienced a net loss of $5.4 million. In terms of business development, Conduit is focusing on developing clinical assets to address diseases with large patient populations and unmet medical needs. The company plans to leverage its clinical and scientific expertise to facilitate the development of clinical assets through Phase II trials. For future plans, Conduit aims to generate revenue through the commercialization or licensing of its product candidates, with the expectation of incurring additional losses and higher operating expenses as it invests in research and development programs. The company's ability to continue operations is dependent on obtaining additional capital and financing.

Conduit Pharmaceuticals Inc. (Conduit) reported its financial performance for the quarter ended June 30, 2024. Research and development expenses saw a 100% increase to $25,000, attributed to the development of AZD1656 co-crystals for autoimmune diseases. General and administrative expenses rose by 137% to $3.1 million, driven by higher salaries, stock compensation, and insurance costs. Other income and expenses netted a loss of $2.1 million, mainly due to the issuance of warrants. Interest expense was $119,000. Overall, the company experienced a net loss of $5.4 million. In terms of business development, Conduit is focusing on developing clinical assets to address diseases with large patient populations and unmet medical needs. The company plans to leverage its clinical and scientific expertise to facilitate the development of clinical assets through Phase II trials. For future plans, Conduit aims to generate revenue through the commercialization or licensing of its product candidates, with the expectation of incurring additional losses and higher operating expenses as it invests in research and development programs. The company's ability to continue operations is dependent on obtaining additional capital and financing.