Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 129

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 129
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 digital assets can present both strategic and
financial benefits as part of a diversified capital management approach.

Operating with a lean, disease-agnostic
model, CDT Equity prioritizes speed, adaptability, and capital efficiency. We avoid the cost burden of late-stage clinical trials, focusing
instead on high-leverage development strategies. Led by highly experienced executives: Dr. Freda Lewis-Hall, former Chief Medical Officer
of Pfizer Inc., the Chair of the Board; Dr. Andrew Regan, CEO and James Bligh, CFO. Our management team includes active senior scientists
who have an extensive understanding of the pharmaceuticals market, supporting our strategy of developing clinical assets in a cost-efficient
manner focused on therapeutic efficacy.

In 2024, AstraZeneca granted a
license to the Company under certain intellectual property rights controlled by AstraZeneca related to HK-4 Glucokinase activators AZD1656
and AZD5658 in all indications and myeloperoxidase inhibitor AZD5904 for the treatment, prevention, and prophylaxis of idiopathic male
infertility. The Company will be responsible for development and commercialization of the Licensed Products under the related License
Agreement. The Company is required to use commercially reasonable efforts to develop and commercialize the Licensed Products.

AstraZeneca has conducted initial
pre-clinical and, in some instances, clinical trials on these assets, but has decided to license them for further development. As the
clinical assets have undergone initial pre-clinical and clinical testing conducted by AstraZeneca, we are able to use the safety data
generated in these clinical trials to assess which clinical assets to further develop and re-purpose.

Furthermore, CDT is well positioned
to pursue, and intends to pursue, additional relationships and/or partnerships with third parties for the licensing of further assets
which are currently deprioritized. We plan to focus our efforts on developing clinical assets to address disorders that impact a large
population where there is no present treatment or the present treatment, carries significant unwanted side effects.

32

Key
Component of Result of Operations

Operating
Expenses

Research
and Development Expenses

Research
and development expenses consist primarily of costs incurred in connection with the research and development of our candidates and programs.
We expense research and development costs and intangible assets acquired that have no alternative future use as incurred. These expenses
include:

    ●
    personnel-related
    expenses, including salaries, bonuses, benefits and stock-based compensation