Company: CDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022373
Chunk: 88

Company: CDT Equity Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 3
Chunk 88
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 Conduit Pharmaceuticals Limited, received a letter from Strand Hanson Limited (“Strand”) claiming it was owed
advisory fees pursuant to a previously executed letter. CDT rejected the claim from Strand and disputed the substance of the letter in
full. Following such rejection, on September 7, 2023, Strand filed a claim in the Business and Property Courts of England and Wales claiming
it is entitled to be paid the sum of $2 million and, as a result of the completion of the Business Combination, to be issued 541 shares
of Common Stock. The trial in this matter concluded during October 2025, with a determination not expected until the first quarter of
2026. Regardless of its outcome, the litigation may impact our business due to, among other things, legal costs and the diversion of the
attention of our management.

In
November and December 2024, the Company received a letter from St George Street Capital and formal complaints filed with the Intellectual
Property Office claiming the Company was assigned the US Application, and was not the sole owner, of the AZD 1656 co-crystal patent.
In January 2025, CDT issued a counter statement to the Intellectual Property Office disputing the claim filed by St George Street Capital.
As of September 30, 2025, the range of possible loss cannot be estimated and is not considered probable. As such, the Company has not
accrued a loss contingency in the accompanying financial statements. We intend to vigorously defend against these claims. Regardless
of its outcome, the litigation may impact our business due to, among other things, legal costs and the diversion of the attention of
our management.

Item
1A. Risk Factors.

As
a smaller reporting company, we are not required to provide disclosure regarding material changes to our previously disclosed risk factors.

Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.

No
unregistered sales of equity securities occurred during the quarter ended September 30, 2025 that were not previously reported.

The Company did not repurchase any of its Common Stock during the three
months ended September 30, 2025.

Item
3. Defaults Upon Senior Securities.

None.

Item
4. Mine Safety Disclosures.

Not
applicable.

Item
5. Other Information.

During
the three month period ended September 30, 2025, none of our executive officers or directors (as defined in Section 16 of the Securities
Exchange Act of 1934