aibioCDT Equity to do 1-for-25 reverse stock split on Nasdaq
Tickers CDT
The split takes effect September 28, 2026, to keep the company in compliance with the Nasdaq bid-price rule, and trading on the split-adjusted basis starts September 29.
Key facts
- Company
- CDT Equity Inc. (NASDAQ: CDT)
- News type
- Listings
- Primary source
- CDT Equity Inc. 8-K (2026-09-25)
CDT Equity Inc. (Nasdaq: CDT) said on September 25, 2026 that its board of directors had approved a 1-for-25 reverse stock split of its common stock. The company said the split is intended to ensure continued compliance with the Nasdaq bid-price rule. The announcement was made in a press release furnished with a Form 8-K dated September 25, 2026.
The terms
The reverse stock split becomes effective at 5:00 p.m. Eastern Time on September 28, 2026. The company's common stock is expected to begin trading on a reverse stock split-adjusted basis on The Nasdaq Capital Market at market open on September 29, 2026, under the existing ticker symbol CDT. The release says Nasdaq approved that date for the split to take effect.
As of the effective time, every 25 shares of the company's issued and outstanding common stock will be combined into one share. The par value per share remains $0.0001. The company's stockholders had approved future reverse stock splits, their timing, and granted the board authority to determine future exact split ratios, according to the release.
After the split, the company's common stock will trade under a new CUSIP number, 20678X700. The number of outstanding shares will fall to approximately 1,124,515. No fractional shares will be issued, and stockholders who would otherwise receive one will receive a proportional cash payment. Proportional adjustments will also be made to shares issuable under equity awards, convertible securities and warrants, along with the exercise prices and the number of shares authorized under equity incentive plans.
Who handles the split
Continental Stock Transfer & Trust Co. will serve as the exchange agent for the reverse stock split. The release says registered stockholders holding shares electronically in book-entry form are not required to take any action. Shares held in brokerage accounts or in street name will be adjusted automatically, subject to each broker's processes. The release names no underwriter or placement agent for the split.
The company
CDT Equity Inc., formerly Conduit Pharmaceuticals Inc., describes itself as a data-driven biopharmaceutical development company focused on identifying, enhancing and advancing high-potential therapeutic assets. Its annual report describes a strategy centered on clinical-stage compounds, particularly those deprioritized by larger pharmaceutical companies with strong supporting Phase I safety data.
The company's annual report says it uses solid-form and co-crystallization technologies developed at its Cambridge facilities to improve drug properties and extend patent life by up to 20 years. It also says that, in partnership with Sarborg Limited, it applies AI-powered signature analysis to identify new uses and combinations for existing compounds. The pipeline is described as including candidates for autoimmune disorders, idiopathic male infertility, dermatology and animal health.
Financial position
The XBRL data in the company's annual report show research and development expense of $5.1 million for the year ended December 31, 2025, up from $3.4 million for 2024. The net loss was $39.2 million for 2025, compared with $17.8 million for 2024. Cash from operations was negative $15.6 million for 2025, compared with negative $9.7 million for 2024.
Year-end cash and cash equivalents were $1.5 million for 2025 and $554,000 for 2024, and the XBRL data also show short-term investments of $600,000 at the end of 2024. At June 30, 2026, cash and cash equivalents were $747,000.
The risks ahead
The split changes the share count and not the business. CDT still has to fund itself. Cash and cash equivalents were $747,000 at June 30, 2026, while cash from operations was negative $15.6 million for 2025 and the net loss was $39.2 million. The company says it will pursue licensing, strategic M&A and its platform strategy, and its annual report says it will seek an exit through third-party license deals after pre-clinical trials. The release lists the effect of the split on the stock price and the ability to keep the Nasdaq listing as forward-looking uncertainties, and says CDT gives no assurance that it will achieve its expectations.