--- title: "Conduit Pharmaceuticals (now CDT Equity) says it meets Nasdaq equity standard" url: "https://aibio.space/news/conduit-pharmaceuticals-now-cdt-equity-says-meets-nasdaq-equity/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-04-01" section: "Listings" tickers: "NASDAQ:CDT" source: "https://www.sec.gov/Archives/edgar/data/1896212/000164117225002147/form8-k.htm" summary: "The company reported pro forma stockholders' equity of $2.8 million as of March 31, 2025, against a $2.5 million minimum. It also said it meets the market" --- By the aibio.space news desk. Sources - [CDT Equity Inc. 8-K (2025-04-01)](https://www.sec.gov/Archives/edgar/data/1896212/000164117225002147/form8-k.htm) - [CDT Equity Inc. 10-K (2025-03-28): business](https://www.sec.gov/Archives/edgar/data/1896212/000164117225001246/form10-k.htm) [CDT](https://aibio.space/companies/cdt-equity/) 2025-04-01 # Conduit Pharmaceuticals (now CDT Equity) says it meets Nasdaq equity standard Tickers [CDT](https://aibio.space/companies/cdt-equity/) The company reported pro forma stockholders' equity of $2.8 million as of March 31, 2025, against a $2.5 million minimum. It also said it meets the market value of publicly held securities rule. ## Key facts - **Company**: CDT Equity Inc. (NASDAQ: CDT) - **News type**: Listings - **Primary source**: [CDT Equity Inc. 8-K (2025-04-01)](https://www.sec.gov/Archives/edgar/data/1896212/000164117225002147/form8-k.htm) *The Capitol dome against a blue sky. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* Conduit Pharmaceuticals Inc. (now CDT Equity Inc., Nasdaq: CDT) said in a [Form 8-K](https://www.sec.gov/Archives/edgar/data/1896212/000164117225002147/form8-k.htm) filed April 1, 2025 that it meets the Nasdaq Capital Market equity standard. The standard requires stockholders' equity greater than $2.5 million. The company met it only on a pro forma basis: on March 31, 2025 it submitted to Nasdaq a financial statement as of that date, after anticipating all first-quarter 2025 expected losses, showing stockholders' equity of $2.8 million. That is a projection, not a reported result. The 8-K does not give the actual first-quarter loss, the cash balance or the operating figures behind the $2.8 million. The filing does not state the size of the expected first-quarter loss. ## The market value test The 8-K also says the company applied to the Nasdaq Capital Market on March 7, 2025 and is currently compliant with the Market Value of Publicly Held Securities continued listing standard, which requires a value greater than $1.0 million. The cover page lists the common stock under the symbol CDT and the redeemable warrants under CDTTW, both on The Nasdaq Stock Market LLC. Chief Executive Officer David Tapolczay signed the filing. The filing treats both tests as passed, but it is a short notice. It does not say whether the equity cushion depends on further share sales or financing after March 31, 2025. ## What the company does Conduit's 10-K, filed in March 2025, says the company was formed through a September 22, 2023 business combination with Murphy Canyon Acquisition Corp., which then changed its name to Conduit Pharmaceuticals Inc. The business model is to act as a conduit that brings clinical assets from pharmaceutical companies and develops them into treatments, using solid-form technology to extend or build intellectual property on those assets. The company's own patent applications cover a solid-form compound, including the AZD1656 cocrystal, a HK-4 glucokinase activator that the 10-K says targets a wide range of autoimmune disorders. Conduit also holds a license from AstraZeneca. Under it, AstraZeneca granted rights to the HK-4 glucokinase activators AZD1656 and AZD5658 in all indications, and to the myeloperoxidase inhibitor AZD5904 for idiopathic male infertility. Conduit must use commercially reasonable efforts to develop and commercialize the licensed products. The 10-K says AstraZeneca ran initial preclinical and, in some cases, clinical work on these assets before deciding to license them. Conduit plans to use that safety data to choose which assets to develop and for which indications. The 10-K also describes a collaboration with SARBORG Limited, under which Conduit intends to use an artificial intelligence and cybernetics platform for drug repurposing, drug discovery, solid-form identification and clinical trial monitoring. The company's management includes Freda Lewis-Hall, a former chief medical officer of Pfizer who chairs the board, and David Tapolczay, a former chief executive of the medical research charity LifeArc. ## Risks the 10-K names The company plans to take its assets through Phase II trials using contract research organizations and other third-party providers. It says that after a successful Phase II trial it would look to license assets to larger companies, typically for upfront milestone payments and royalty income. It also says it expects to use any future royalty stream alongside other financing, including debt or equity. The royalty income is described as something to come, not as current revenue. The 10-K is candid about the odds. It says "there is no assurance that any clinical trials on the assets owned or licensed by us will be successful." That point matters for a company whose equity figure already depends on expected losses. The 8-K does not discuss the trial risks, and it gives no timetable for the Phase II work or any licensing deal. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story CDT CDT Equity Inc. 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Cite as: aibio.space, "Conduit Pharmaceuticals (now CDT Equity) says it meets Nasdaq equity standard", 2025-04-01, https://aibio.space/news/conduit-pharmaceuticals-now-cdt-equity-says-meets-nasdaq-equity/