Summary by Moomoo AI
Conduit Pharmaceuticals has filed a prospectus with the SEC under Rule 424(b)(3) for the potential offering of up to $100,000,000 in securities, which may include common stock, preferred stock, warrants, and units. The prospectus outlines the general terms of these securities and indicates that specific details of any offering, including amounts, prices, and terms, will be provided in supplemental filings. The company's common stock is traded on The Nasdaq Global Market under the symbol 'CDT.' As of October 16, 2024, the last reported sale price of Conduit Pharmaceuticals' common stock was $0.114. The company has not sold any securities under the registration statement in the 12 months preceding the date of the prospectus. The prospectus also includes risk factors, such as the need for additional capital and the dependence on the successful development, regulatory approval, and commercialization of its clinical assets. The company has identified material weaknesses in its internal control over financial reporting and is dependent on third-party agreements for licensing its clinical assets.