24/7 Market News Snapshot 04 June, 2025 – Conduit Pharmaceuticals Inc. Common Stock (NASDAQ:CDT)
DENVER, Colo., 04 June, 2025 (www.247marketnews.com) – (NASDAQ:CDT) are discussed in this article.
Conduit Pharmaceuticals Inc. is experiencing an encouraging upswing in pre-market trading, with shares currently priced at $3.377, reflecting a 4.55% increase from the previous close of $3.230. This positive momentum is underscored by a substantial trading volume of 2.95 million shares, signaling strong investor interest surrounding the company. Traders are advised to monitor potential resistance levels around $3.40 and support near $3.25, as the ongoing bullish trend may lead to further gains in the coming days.
In a strategic announcement, Conduit Pharmaceuticals has forged a transformative joint development agreement with Manoira Corporation, a leader in the animal health sector recognized for its innovative reformulation technologies. This collaboration seeks to assess Conduit’s clinical-stage glucokinase activators, AZD1656 and AZD5658, for veterinary applications, which could yield significant insights benefiting both human and animal therapeutic interventions.
The partnership will begin with a focused evaluation of AZD1656 in treating osteoarthritis in animals — a common degenerative joint ailment. Manoira will generate crucial preclinical data that will inform ongoing human clinical programs. Prior investigations have indicated promising therapeutic effects of glucokinase activators in osteoarthritis, enhancing the potential of this collaboration.
This agreement not only demonstrates Conduit’s commitment to innovative partnerships but also ensures the company retains full ownership of all intellectual property and data generated related to these glucokinase activators. This strategic approach is expected to expedite development phases, minimize costs, and create new revenue opportunities within the projected $15 billion animal health market.
Dr. Freda Lewis-Hall, Chair of Conduit Pharmaceuticals, remarked on the significance of the partnership, emphasizing its potential to deliver substantial value and innovate treatment standards for both human and veterinary health. Moreover, the evaluation of AZD5658 for similar applications highlights Conduit’s proactive stance in developing innovative combination therapies to redefine therapeutic standards across species.