Company: CDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022373
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Company: CDT Equity Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
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NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1.
Nature of the Business, Basis of Presentation and Summary of Significant Accounting Policies

CDT
Equity Inc., formerly Conduit Pharmaceuticals Inc., a Delaware corporation (“CDT”, “CDT Equity” or the “Company”), is a data-driven
pharmaceutical development and digital asset treasury management company focused on identifying, enhancing, and advancing high-potential
therapeutic assets through scientific innovation and strategic partnerships. The Company has evolved into a broader, more agile platform
that leverages artificial intelligence, solid-form chemistry, and efficient asset repositioning to accelerate the development of novel
treatments.

The
Company’s strategy is centered on unlocking the untapped value of clinical-stage compounds, particularly those deprioritized
by larger pharmaceutical companies with strong, supporting Phase I safety data. Through advanced co-crystallization and solid-form
technologies developed at our Cambridge facilities, the Company improves drug properties and extends patent life by up to 20 years.
In partnership with Sarborg Limited, the Company also applies AI-powered disease mapping to rapidly identify new therapeutic applications
for existing compounds.

The
Company’s pipeline includes candidates that target autoimmune disorders, as well as idiopathic male infertility, oncology,
dermatology, and animal health. Ongoing in vitro and in vivo studies, guided by AI insights, are designed to support licensing and
commercialization partnerships. The Company will seek an exit through third-party license deals following successful in vitro and in
vivo pre-clinical trials, by entering into agreements with third-parties to pursue further development, FDA approval,
commercialization and marketing of the Company’s assets.

Operating
with a lean, asset-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.

On May 23, 2025, the Company’s Common Stock commenced trading, as
further described herein, on The Nasdaq Capital Market under the symbol “CDT”. Effective August 5, 2025, the Company changed
its name from Conduit Pharmaceuticals Inc. to CDT Equity Inc. Our name change to CDT Equity Inc. reflects the evolution of our strategy
as a data-driven biotech development company focused on identifying, enhancing, and advancing high-potential therapeutic assets through
scientific innovation and strategic partnerships.

Basis
of Presentation

The
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