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POS AM: Post-effective amendment to a registration statement that is not immediately effective upon filing

SEC announcement ·  May 2 14:16
Summary by Moomoo AI
Conduit Pharmaceuticals Inc. has filed Post-Effective Amendment No. 1 to its FORM S-1 REGISTRATION STATEMENT with the SEC on May 1, 2024. This amendment provides updated financial information and recent business activities, including the company's focus on developing pharmaceutical products for unmet medical needs. Conduit Pharmaceuticals completed a reverse recapitalization merger with Murphy Canyon Acquisition Corp. on September 22, 2023, and as a result, issued shares and warrants in a PIPE Financing deal worth $20 million. The company's stock and warrants are traded on Nasdaq under the tickers 'CDT' and 'CDTTW'. Despite not having paid any cash dividends and accumulating significant losses, Conduit Pharmaceuticals has secured a $5 million commitment from Corvus Capital for working capital to support operations for the next year. The...Show More
Conduit Pharmaceuticals Inc. has filed Post-Effective Amendment No. 1 to its FORM S-1 REGISTRATION STATEMENT with the SEC on May 1, 2024. This amendment provides updated financial information and recent business activities, including the company's focus on developing pharmaceutical products for unmet medical needs. Conduit Pharmaceuticals completed a reverse recapitalization merger with Murphy Canyon Acquisition Corp. on September 22, 2023, and as a result, issued shares and warrants in a PIPE Financing deal worth $20 million. The company's stock and warrants are traded on Nasdaq under the tickers 'CDT' and 'CDTTW'. Despite not having paid any cash dividends and accumulating significant losses, Conduit Pharmaceuticals has secured a $5 million commitment from Corvus Capital for working capital to support operations for the next year. The company has also entered into development agreements with St George Street Capital and has restated its financial statements for the year ended December 31, 2023, due to errors in expensing merger-related costs. The future of Conduit Pharmaceuticals hinges on its ability to secure additional financing, as its continuation as a going concern remains uncertain.

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