Conduit Pharmaceuticals Inc. (NASDAQ:CDT) Undergoes Reverse Stock Split

May 22, 2025 4:06 PM - Tony Dante

Image credit: Google Images

Conduit Pharmaceuticals Inc. (NASDAQ:CDT) is a clinical stage life science company that focuses on developing innovative therapies. On May 20, 2025, CDT underwent a reverse stock split at a ratio of 15 for 1. This strategic move was approved by the company's board and stockholders, as highlighted by the recent Special Meeting on May 5, 2025.

The reverse stock split took effect on May 19, 2025, at 5:00 pm Eastern Time. Following this, CDT's common stock began trading on a split-adjusted basis on the Nasdaq Global Market under the same ticker symbol. This means that for every 15 shares previously held, stockholders now own 1 share, effectively consolidating the number of shares.

Currently, CDT's stock price is $4.60, marking a decrease of approximately 2.56% or $0.12. The stock has shown volatility, with a daily range between $4.20 and $4.68. Conduit's market capitalization is approximately $3.48 million, reflecting the company's overall value in the market. The trading volume on the NASDAQ exchange is 43,023 shares, which provides insight into the level of investor interest and activity in the stock.

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