Company: CDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022373
Chunk: 40

Company: CDT Equity Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 40
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 agreement (the “Joint Development Agreement”) with Manoira
Corporation. Dr. Andrew Regan, Chief Executive Officer and member of the Board, also is a director and controlling member of
Manoira. Through the Joint Development Agreement, the Company
and Manoira intend to jointly evaluate AZD1656, and any of its derivatives, as well as AZD5658, in animal health indications and
produce transitional data to inform the Company’s human clinical programs while exploring veterinary market opportunities. The
Company delivered shares of the Company’s Common Stock worth $0.5
million to Manoira as its contribution to the Joint Development Agreement, with Manoira bearing all subsequent costs incurred during
the joint development period. During the three and nine months ended September 30, 2025, the Company recorded $0.1
million of research and development expense in the condensed consolidated statement of operations and comprehensive loss. As of
September 30, 2025, the Company has a $0.3
million prepaid expense related to the Joint Development Agreement recorded in the condensed consolidated balance sheet. Refer to
Note 7 for additional details.

    23

13.
Other Expense, net

The
following table presents other income (expense), net, for the three and nine months ended September 30, 2025 and 2024 (in thousands):

Schedule
of Other Expense, Net 

    2025  
    2024  
    2025  
    2024 

    For the three months ended September 30,  
    For the nine months ended September 30, 

    2025  
    2024  
    2025  
    2024 
  
    Other income: 

    Unrealized foreign currency transaction gain 
    $-  
    $50  
    $27  
    $38 
  
    Gain on change in fair value of derivative warrant liability 
     -  
     -  
     137  
     118 
  
    Interest income 
     7  
     8  
     19  
     11 
  
    Gain on debt extinguishment 
     -  
     -  
     278  
     - 
  
    Gain on waiver of accrued interest 
     -  
     -  
     371  
     - 
  
    Research and