Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 52

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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     8,568  
     6,095 
  
    Operating loss 
     (4,952) 
     (3,140) 
     (8,568) 
     (6,095)
  
    Other income (expenses): 

    Other income (expense), net 
     (1,023) 
     (2,126) 
     (1,992) 
     (2,613)
  
    Interest Income 
     4  
     2  
     12  
     11 
  
    Interest expense, net 
     (57) 
     (119) 
     (233) 
     (238)
  
    Total other (expense) income, net 
     (1,076) 
     (2,243) 
     (2,213) 
     (2,840)
  
    Net loss 
    $(6,028) 
    $(5,383) 
    $(10,781) 
     (8,935)

Other
segment items consist of the items within Note 12 to the condensed consolidated financial statements.

16.
Subsequent Events

Sarborg
- Additional Agreement Addendum

On
July 1, 2025 the Company entered into an Addendum to the Additional Agreement with Sarborg Limited, a related party. Under the terms
of the Addendum, Sarborg will expand the scope of the Additional Agreement to provide external analysis of third-party pharma
companies assets suitable for drug re-purposing and evaluate the efficacy of the assets utilizing Conduit’s license to
Sarborg’s machine learning platform. The scope of work is expected to be completed in 4 weeks, which may be renewed or
extended upon the mutual written agreement of the Parties. The total consideration for the additional services, payable in cash in
two tranches, was $0.3 million.
The Company paid the full $0.3 million
as of the date of this filing.

Appointment
of Permanent Chief Financial Officer

Effective
August 4, 2025, the Company appointed James Bligh, co-founder, director and Interim Chief Financial Officer as the permanent Chief Financial
Officer of the Company. Mr. Bligh’s compensation will remain unchanged and he will continue to serve as a member of the Board.

Name
Change to CDT Equity Inc.

On
August 5, 2025