Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 903

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 903
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4, the balance sheets contained warrant liabilities of $0.1
million and $0.01
million, respectively.

    F-36

19.
Segments

The
Company has one operating segment focused on the research and development of clinical assets. The accounting policies of the single operating
segment are identical to those described in Note 1. The CODM, which the Company has identified as David Tapolczay, Chief Executive
Officer, manages the Company’s operations on a consolidated basis, assesses performance for the operating segment and decides how
to allocate resources based on consolidated net loss, which is reported on the consolidated statements of operations and comprehensive
income (loss). Depreciation expense, amortization expense, stock-based compensation expense, and non-cash lease expense are significant
noncash items included in consolidated net loss reviewed by the CODM and are reported on the consolidated statements of cash flows. The
measure of segment assets is reported on the consolidated balance sheets as total consolidated assets. Expenditures for additions to
long-lived assets, which include purchases of property and equipment, are included in total consolidated assets reviewed by the chief
operating decision maker and are reported on the consolidated statements of cash flows.

The
CODM uses consolidated net loss and budget-to-actual variances to assess the performance of the operating segment and determine if the
Company is progressing towards its goals.

The
following table presents certain financial data for the Company’s reportable segment (in thousands):

Schedule
of Financial Data for the Company’s Reportable Segment 

    2024  
    2023 

    December 31, 

    2024  
    2023 
  
    Research & development expense – new licenses 
    $3,114  
    $— 
  
    Research & development expense – clinical asset development 
     264  
     90 
  
    General and administrative expenses – legal & professional fees 
     2,258  
     314 
  
    General and administrative expenses – accounting & audit fees 
     1,625  
     3,064 
  
    General and administrative expenses – salaries, payroll and stock-based compensation 
     4,098  
     721 
  
    General and administrative expenses – other 
     4,060  
     1,073 
  
    Loss from segment operations 
    $15,419  
    $5,262 

Other
segment items consist of the items