Murphy Canyon (MURF) Shareholders Approve Conduit Deal

Murphy Canyon Acquisition Corp. (NASDAQ:MURF) announced this afternoon that its stockholders voted in favor of the proposed business combination with Conduit Pharmaceuticals Limited (“Conduit”).

Details on the vote, along with redemption numbers, have not been filed yet, but the Company expects the closing to occur as soon as practicable, subject to the satisfaction or waiver of remaining closing conditions.

Following the completion of the Business Combination, the newly combined company will operate as Conduit Pharmaceuticals Inc. and its common stock and public warrants will trade on The Nasdaq Global Market under the symbols “CDT” and “CDTTW”.

Assuming that closing is completed on September 21, 2023, trading in the common stock and public warrants is expected to continue on Nasdaq, switching from the symbols “MURF” and “MURFW” to the new symbols “CDT” and “CDTTW”, respectively, at the open of trading on September 22, 2023.

Murphy Canyon inked the deal with Conduit in November 2022. London-based Conduit is working to develop a range of treatments licensed from AstraZeneca (NASDAQ:AZN) with the aim of exiting these assets following the completion of Phase II trials.