Core Points - Conduit Pharmaceuticals presented a compliance plan to Nasdaq on February 11, 2025, requesting an extension to meet specific listing rules [1] - On March 5, 2025, Nasdaq granted an extension for Conduit to regain compliance with MVPHS and MVLS rules, contingent upon filing an application to transfer to the Nasdaq Capital Market by March 12, 2025, and demonstrating compliance by March 31, 2025 [2] - As of February 26, 2025, Conduit regained compliance with the Bid Price rule [3] - Following the transfer to the Nasdaq Capital Market, Conduit expects its MVPHS to comply with the standard of greater than 2.5 million by the March 31, 2025 deadline [4] Company Overview - Conduit Pharmaceuticals is a clinical stage life science company focused on an efficient model for compound development, acquiring and funding Phase 2-ready assets [5] - The company employs a platform-driven approach powered by artificial intelligence and cybernetics, aiming for exits through third-party license deals after successful clinical trials [5] - The leadership team includes experienced pharmaceutical executives, indicating a strong foundation for the company's innovative approach [5]
Conduit Pharmaceuticals Provides Update on Nasdaq Stock Market Hearing Panel