Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q/A
Source: 0001641172-25-024123
Chunk: 59

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q/A
Chunk 59
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969 | ) |     |      |   (487 | ) |
| Interest Income                                    |     |                    |      8 |   |     |      |      9 |   |
| Interest expense, net                              |     |                    |   (176 | ) |     |      |   (119 | ) |
| Total other (expense) income, net                  |     |                    | (1,137 | ) |     |      |   (597 | ) |
| Net loss                                           |     | $                  | (4,753 | ) |     | $    | (3,552 | ) |

Comparison of the Three Months Ended March 31, 2025 and 2024

Research and Development Expenses

| (Dollar amounts in thousands)     |     | Three Months ended March 31, 
 2025                         
 (As Restated)                |     |     | 2024 |     |     | Change 
 Amount |     |     | % |     |   |
|:----------------------------------|:----|:-----------------------------|----:|:----|:-----|----:|:----|:-------|----:|:----|:--|----:|:--|
| Research and development expenses |     | $                            | 916 |     | $    | 128 |     | $      | 788 |     |   | 616 | % |

Research and development expenses increased by $0.8 million, or 616%, to approximately $0.9 million for the three months ended March 31, 2025, as compared to $0.1 million for the three months ended March 31, 2024. The increase was primarily due to $0.7 million of expense recorded under the Sarborg Service Agreement and $0.1 million of expense incurred under the Charles River MSA.

General and Administrative Expenses

|                                     | (Dollar amounts in thousands) | Three Months ended March 31, |  2025 |     |   |  2024 |     | Change | Amount |   |     |     | %  |    |
|:------------------------------------|:------------------------------|:-----------------------------|------:|:----|:--|------:|:----|:-------|:-------|:--|:----|:----|:---|:---|
| General and administrative expenses |                               | $                            | 2,700 |     | $ | 2,827 |