CDT Equity Inc.
- Open
- 1.79
- Day high
- 1.79
- Day low
- 1.60
- Prev close
- 1.69
- Volume
- 134K
- Mkt cap
- $1M
- P/E (TTM)
- 0.0
- EPS (TTM)
- $76.72
- P/B
- 0.0
- P/S
- 0.0
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$2.9M over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions reducing (13F)
CDT Equity Inc. (CDT) is a Healthcare company listed on NASDAQ. The stock is down 100% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
CDT Equity Inc. (CDT) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CDT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 12, 2026 | — | $-8.71 | — | $750M | — |
| Jun 25, 2026 | — | $13.10 | — | $696M | — |
| Mar 27, 2026 | — | $4.33 | — | $720M | — |
| Nov 13, 2025 | — | $-13.16 | — | — | — |
| Aug 14, 2025 | — | $-43.68 | — | — | — |
| May 15, 2025 | — | $-19.79 | — | — | — |
| Mar 28, 2025 | — | $-20.33 | — | $661M | — |
| Nov 14, 2024 | — | $-7.00 | — | $244M | — |
| Nov 20, 2023 | — | $-0.80 | — | — | — |
CDT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 23, 2026 | Taylor Mark Andrew10 percent owner | Sell | 1,464,711 | $1.44 |
| Jun 23, 2026 | Taylor Mark Andrew10 percent owner | Sell | 593,289 | $1.40 |
| Jun 23, 2026 | Taylor Mark Andrew10 percent owner | Sell | 5,000 | $0.71 |
| May 14, 2026 | Regan Andrewdirector, officer: Chief Executive Officer | Grant | 147,401 | — |
| May 14, 2026 | Regan Andrewdirector, officer: Chief Executive Officer | Grant | 100,000 | $1.90 |
| Feb 23, 2026 | Farley Chele Chiavaccidirector | Grant | 1,940,804 | $0.00 |
| Feb 23, 2026 | Farley Chele Chiavaccidirector | Grant | 10,553 | $1.04 |
| Dec 22, 2025 | Regan Andrewdirector, 10 percent owner, officer: Chief Executive Officer | Grant | 224,800 | $1.79 |
| Dec 22, 2025 | Regan Andrewdirector, 10 percent owner, officer: Chief Executive Officer | Grant | 3,685,815 | $0.00 |
| Sep 22, 2025 | Regan Andrewdirector, 10 percent owner, officer: Chief Executive Officer | Grant | 1,120,000 | $0.69 |
| Sep 19, 2025 | Bligh Jamesdirector, officer: CFO | Grant | 480,000 | — |
| Aug 26, 2025 | Lewis-Hall Freda Cdirector | Grant | 35,000 | — |
| Aug 26, 2025 | Fry Simon Jeremydirector | Grant | 35,000 | — |
| Aug 26, 2025 | Fry Simon Jeremydirector | Grant | 15,000 | $1.89 |
| Aug 26, 2025 | Farley Chele Chiavaccidirector | Grant | 15,000 | $1.89 |
Source: CDT SEC Form 4 filings, latest Jun 23, 2026. For informational purposes only — not investment advice.
See the full CDT insider & 13F page →CDT Equity Inc. company profile
Overview
Conduit Pharmaceuticals Inc. (NASDAQ:CDT) is a clinical-stage specialty biopharmaceutical company founded in 2019 and headquartered in San Diego, California. The company went public in March 2022 and operates as a subsidiary of Corvus Capital Limited. Conduit focuses on developing treatments for unmet medical needs in autoimmune diseases and male reproductive health, with a pipeline centered around two main drug candidates targeting conditions such as Hashimoto's thyroiditis and idiopathic male infertility.
Business
Conduit Pharmaceuticals operates in the biotechnology sector, specifically focusing on clinical-stage drug development for specialized medical conditions. The company's core business involves researching, developing, and advancing pharmaceutical treatments through clinical trials with the ultimate goal of bringing new therapies to market. The company's pipeline consists of two primary drug candidates. AZD1656 is being developed for multiple autoimmune and inflammatory conditions including Hashimoto's thyroiditis (an autoimmune disorder affecting the thyroid gland), complications related to renal transplantation, uveitis (inflammatory eye disease), and preterm labor prevention. AZD5904 targets idiopathic male infertility, a condition where the cause of male fertility issues cannot be identified through standard diagnostic methods. Autoimmune diseases occur when the body's immune system mistakenly attacks healthy tissues, leading to chronic inflammation and tissue damage. These conditions often require long-term treatment and can significantly impact patients' quality of life. Male infertility affects approximately 7% of men globally and represents a substantial unmet medical need, particularly in cases where the underlying cause cannot be determined or effectively treated with existing therapies. As a clinical-stage company, Conduit does not yet have approved products generating commercial revenue. The company's current activities focus on conducting clinical trials, regulatory interactions, and preparing for potential commercialization of its drug candidates pending successful trial outcomes and regulatory approval.
Revenue model
As a clinical-stage biopharmaceutical company, Conduit Pharmaceuticals does not currently generate revenue from product sales. The company's financial statements show sporadic revenue figures that likely represent milestone payments, licensing deals, or research collaborations rather than consistent product sales. For instance, the company reported revenues of $625 million in Q1 2025 and $661 million in Q4 2024, which appear unusually high for a clinical-stage company and may represent one-time transactions or accounting adjustments. The company's primary business model revolves around advancing drug candidates through clinical development with the goal of eventually licensing these assets to larger pharmaceutical companies or bringing them to market independently. Typical revenue streams for companies at this stage include upfront licensing payments, milestone payments tied to clinical and regulatory achievements, and potential royalties from future product sales. Conduit's financial sustainability currently depends on external funding sources including equity financing, grants, and strategic partnerships. The company faces the typical challenges of clinical-stage biotechnology firms, including high research and development costs, regulatory uncertainty, and the extended timeline from drug discovery to market approval. Factors that could positively impact the company's financial position include successful clinical trial results, regulatory approvals, licensing deals with pharmaceutical partners, and favorable market conditions for biotechnology investments. Conversely, negative clinical trial outcomes, regulatory setbacks, increased competition in target therapeutic areas, or broader market downturns in biotechnology could adversely affect the company's ability to secure funding and advance its pipeline.
Competitive moat
Conduit Pharmaceuticals operates in a highly competitive biotechnology landscape with limited sustainable competitive advantages typical of early-stage drug development companies. The company's potential moat primarily stems from its intellectual property portfolio surrounding AZD1656 and AZD5904, including patents on drug formulations, manufacturing processes, and specific therapeutic applications. However, this moat is inherently fragile and temporary. Patent protection provides exclusivity for a limited time period, and the company faces substantial execution risk in proving the safety and efficacy of its drug candidates through clinical trials. The biotechnology industry is characterized by high failure rates, with many promising compounds failing to demonstrate sufficient benefit in later-stage trials. Competition comes from multiple sources including large pharmaceutical companies with significantly greater resources, other biotechnology firms targeting similar therapeutic areas, and existing treatment options that may prove superior or more cost-effective. In the autoimmune disease space, Conduit competes against established treatments and numerous companies developing novel therapies. The male infertility market, while representing an unmet need, is relatively niche and may face challenges in demonstrating clear clinical and economic benefits. The company's competitive position is further weakened by its limited financial resources compared to larger pharmaceutical companies, its dependence on external funding, and the inherent uncertainty of clinical development. Without proven clinical success, established commercial capabilities, or unique technological platforms, Conduit's moat remains largely theoretical and highly dependent on successful execution of its clinical programs.
Risks & safety
Conduit Pharmaceuticals presents significant financial risk with limited margin of safety for investors. • **Cash position and burn**: The company reported only $554,000 in cash and short-term investments as of Q4 2024, down dramatically from $4.2 million in 2023, indicating severe liquidity constraints and potential solvency risk. • **Debt and liabilities**: Total liabilities of $11.0 million against total assets of $4.2 million create a negative book value situation, with current liabilities exceeding current assets in recent quarters. • **Cash flow**: Consistent negative operating cash flows of $9.7 million in 2024 and $7.7 million in 2023, with no revenue-generating products to offset ongoing expenses. • **Valuation concerns**: Extreme price volatility with shares trading from $6,825 in 2022 to current levels around $8.40, suggesting significant market uncertainty and potential overvaluation during early periods. • **Going concern**: The combination of minimal cash reserves, ongoing losses, and lack of commercial revenue creates substantial going concern risks requiring immediate capital infusion. The company's financial metrics indicate distressed conditions requiring urgent financing to continue operations, making this investment highly speculative with substantial risk of total loss.
Recent development
Based on the available financial data, Conduit Pharmaceuticals appears to be in a critical transition phase as a clinical-stage biotechnology company. The company has experienced significant financial volatility, with dramatic swings in reported revenue figures that likely reflect milestone payments, licensing transactions, or accounting adjustments rather than consistent operational performance. The most notable development has been the company's deteriorating cash position, falling from over $4 million in cash reserves in 2023 to just $554,000 by the end of 2024. This represents a critical liquidity challenge that will require immediate attention through additional financing or strategic partnerships to continue operations and advance clinical programs. The company's focus remains on advancing its two primary drug candidates, AZD1656 for autoimmune conditions and AZD5904 for male infertility, through clinical development. However, without detailed earnings call transcripts available, specific updates on clinical trial progress, regulatory interactions, or strategic partnerships cannot be determined from the financial data alone. The extreme stock price volatility, ranging from over $6,000 per share in 2022 to current levels around $8.40, suggests the company may have undergone significant corporate restructuring, stock splits, or other material changes that have affected its capital structure and market valuation.
CDT company profile · for informational purposes only — not investment advice.
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