Conduit Pharmaceuticals Inc

Conduit Pharmaceuticals, Inc. (NASDAQ: CDT) is a disease agnostic life science company. The Company is engaged in the development and commercialization of clinical assets to address the unmet medical needs of patients. The Company’s licensed clinical assets are focused on idiopathic male infertility and autoimmune diseases or immunodeficient conditions like uveitis, preterm labor, renal transplant rejection and Hashimoto’s Thyroiditis. The Company’s asset pipeline includes AZD1656 (a Glucokinase Activator), and AZD5904 (a Myeloperoxidase Inhibitor).

Key Business & Financial Updates

• Conduit Pharmaceuticals Initiates Trials for Autoimmune Disorders: Conduit Pharmaceuticals has selected systemic lupus erythematosus and ANCA-associated vasculitis as the initial indications for its lead clinical candidate, AZD1656, a glucokinase activator. Originally developed by AstraZeneca for diabetes, AZD1656 is now being repurposed by Conduit for autoimmune conditions due to its immune-modulating capabilities and proven safety profile. The company plans to conduct Phase 2a trials, highlighting AZD1656’s potential to address unmet medical needs in autoimmune diseases. The global market for lupus and related conditions is expected to grow significantly, reinforcing the strategic importance of AZD1656 in this field.
• Conduit Pharmaceuticals Secures Exclusive License from AstraZeneca for Key Clinical Assets: Conduit Pharmaceuticals has entered into an exclusive license agreement with AstraZeneca to develop three clinical candidates: AZD1656 and AZD5658, both glucokinase activators targeting autoimmune disorders, and AZD5904, a myeloperoxidase inhibitor aimed at treating idiopathic male infertility. AstraZeneca, having progressed these assets through Phase 1 trials, will provide preclinical and clinical data, while Conduit plans to initiate Phase 2 trials in 2024. The agreement includes AstraZeneca receiving shares in Conduit and potential future revenues from the licensed assets.
• Conduit Pharmaceuticals Secures Patent for Autoimmune Drug Asset: Conduit Pharmaceuticals has received approval from IP Australia for a composition of matter patent on its lead asset, AZD1656, a glucokinase activator targeting autoimmune diseases. This patent strengthens Conduit’s intellectual property portfolio, and the company expects faster approval in key markets such as the U.S., Europe, and Japan under the Patent Prosecution Highway program. 

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Related Risk: This report may be looked at from a high-risk perspective and a recommendation is provided for a short duration. This report is solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc. 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is August 13, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.s

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