Aslan Alphan Shares of Conduit Pharmaceuticals ( NASDAQ: CDT ) jumped ~132% premarket Thursday after the nanocap biotech company announced a licensing deal with Anglo-Swedish drugmaker AstraZeneca ( NASDAQ: AZN ) for three experimental therapies. Per the terms, Astra ( AZN ) will grant exclusive licensing rights to three of its Phase-2 ready product candidates, namely AZD1656, AZD5658, and AZD5904, to San Diego, California-based Conduit ( CDT ). As part of the agreement, the U.
K.-listed pharma giant will receive Conduit’s ( CDT ) common stock in addition to sublicense revenues, including upfront payments, milestones, and royalties from potential partners. Licenses for AZD1656 and AZD5658 target all human indications, while those for AZD5904 cover idiopathic male infertility.
Conduit ( CDT ) plans to run Phase 2 trials for AZD1656 and AZD5658 this year, focusing on autoimmune disorders. More on AstraZeneca, Conduit Pharmaceuticals Inc., etc.
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