Company: CDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010405
Chunk: 101

Company: CDT Equity Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 101
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 $84.68  
     9.10  
    $- 

The
aggregate intrinsic value of options is calculated as the difference between the exercise price of the underlying options and the fair
value of the Company’s common stock for those options that had exercise prices lower than the fair value of the Company’s
common stock. As of March 31, 2025, the total compensation cost related to non-vested option awards not yet recognized was $2.0 million
with a weighted average remaining vesting period of 1.64 years.

For the three months ended March
31, 2025 and March 31, 2024, there was a total of $0.2 million and $0.4 million, respectively in stock-based compensation expense recognized
within General and Administrative expenses on the condensed consolidated statements of operations and comprehensive loss, respectively.

9.
Income Taxes

For
the three months ended March 31, 2025, and 2024, the Company’s effective tax rate was 0.0% and 0.0%, respectively, due to the current
year tax loss and valuation allowance established against the Company’s net deferred tax assets, and due to operating in a no tax
jurisdiction, respectively.

    21

10.
Common Stock and Preferred Stock

At-the-Market
Offering

On
October 23, 2024, the Company entered into the Sales Agreement with A.G.P. relating to shares of the Company’s Common Stock. In
accordance with the terms of the Sales Agreement, the Company may offer and sell shares of our Common Stock having an aggregate offering
price of up to $23.9 million from time to time through A.G.P., acting as our sales agent or principal.

The
compensation to A.G.P. for sales of common stock sold pursuant to the Sales Agreement will be equal to 3.0% of the gross proceeds of
any shares of common stock sold under the sales agreement.

During
the three months ended March 31, 2025, the Company sold 4,345,913
shares of the Company’s Common Stock through the Sales Agreement. The Company received proceeds of $8.1
million, net of commissions payable to A.G.P. of $0.2
million. As of the date of this Quarterly Report on Form 10-Q, the Company has approximately $12.0
million available under the Sales Agreement.

11.
Net Loss Per