Summary by Moomoo AI
Conduit Pharmaceuticals received a delisting notice from Nasdaq on December 17, 2024, due to its stock price closing below $0.10 for ten consecutive trading days. The company plans to request a hearing to present its compliance plan and seek an extension. Delisting action is stayed pending the hearing outcome.At the annual meeting on December 18, shareholders approved a reverse stock split at a ratio between 1-for-10 and 1-for-100, to be determined by the Board. This move aims to regain compliance with Nasdaq's listing requirements. Additionally, Simon Fry's appointment as director became effective, resolving a previous audit committee compliance issue.Shareholders also ratified Marcum LLP as the independent auditor for 2024 and re-elected six directors. The company's common stock and warrants continue trading on Nasdaq under "CDT" and "CDTTW" symbols, subject to ongoing listing deficiencies and the hearing process outcome.
