Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 133

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 133
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, as compared to $0.2 million for the six months ended June 30, 2024. The increase was primarily
due $2.4 million of expense recorded under the Sarborg Service Agreement and Sarborg Additional Agreement, $0.1 million of expense incurred
under Thesprogen Consulting Agreement, and $0.1 million in other research and development related activities.

General
and Administrative Expenses

    Six Months ended  June 30,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    General and administrative expenses 
    $5,792  
    $5,942  
    $(150) 
     (3)%

General
and administrative expenses decreased by $0.15 million, or 3%, to $5.8 million for the six months ended June 30, 2025, as compared to
$5.9 million for the six months ended June 30, 2024. The decrease was primarily driven by a $0.7 million decrease in salaries and stock
compensation expense, a $0.1 million decrease in other general and administrative expenses and a $0.1 million decrease in insurance expense
related to the amortization of prepaid directors and officers insurance, partially offset by a $0.7 million increase in legal expenses
and a $0.1 increase in travel expense.

35

Other
Income (Expense), Net

    Six Months ended  June 30,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    Other income (expense), net 
    $(1,992) 
    $(2,613) 
    $621  
     24%

Other
income (expense), net changed by $0.6 million, or 24%, to $2.0 million of expense for the six months ended June 30, 2025, as compared
to $2.6 million of net expense for the six months ended June 30, 2024. The change in other income (expense) for the six months ended
June 30, 2025 is primarily related to a $2.7 million decrease related to the issuance of warrants in exchange for stockholders’
entering into lock-up agreements during the six months ended June 30,