Shares of Conduit Pharmaceuticals, which debuted on Nasdaq Monday, were trading lower in the afternoon.
Conduit and blank check company Murphy Canyon Acquisition announced the completion of their business combination last week, and shares of the combined company began trading on Nasdaq Monday under the symbol CDT.
At 1:19 p.m. ET, the stock was down 40% to trade at $10.10. Shares traded as low as $9.80 and as high as $12.89 earlier in the session.