Summary by Moomoo AI
Conduit Pharmaceuticals Inc. has undergone significant corporate developments over the past year, including a merger with Murphy Canyon Acquisition Corp. on September 22, 2023, which led to its listing on The Nasdaq Global Market under the ticker 'CDT'. The company has authorized a substantial issuance of shares, with up to 250,000,000 shares of common stock and 1,000,000 shares of preferred stock as of December 31, 2023. In the legal arena, Conduit Pharmaceuticals faces a claim from Strand Hanson Limited for advisory fees and stock, which the company is prepared to contest. Additionally, the company has engaged in the sale of unregistered securities, including a private placement of units and the issuance of common stock for services and a licensing agreement with AstraZeneca. The company's leadership is protected by indemnification provisions in its corporate charter and under Delaware law. Financial statements for 2023 and 2022 have been audited, revealing concerns about the company's operational continuity, and past financial statements have been restated to correct errors related to merger expenses.
