Murphy Canyon Acquisition called a Sept. 7 meeting at 10 a.m. Eastern for shareholders to vote on the proposed merger with Conduit Pharmaceuticals.
San Diego-based Conduit expects to use proceeds from the deal to accelerate development of its autoimmune disease and idiopathic male infertility pipeline.
The $700.5 million deal was announced in November. Cash proceeds are expected to consist of up to approximately $136.04 million held in Murphy's trust account (before any redemptions and payment of expenses) and a $27 million PIPE. Read more.