Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 2

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 2
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, and payors of the benefits, safety, and efficacy of our clinical assets or any future clinical
    assets, if approved, including relative to alternative and competing treatments;

    ●
    our
    ability to comply with numerous post-approval regulatory requirements;

    ●
    our
    and our partners’ ability to establish and enforce intellectual property rights in and to our clinical assets or any future
    clinical assets;

    ●
    our
    and our partners’ ability to avoid third-party patent interference or intellectual property infringement claims; and

    ●
    our
    ability to in-license or acquire additional clinical assets or commercial-stage products that we believe that we can successfully
    develop and commercialize.

If
we are unable to achieve one or more of the above factors, many of which are beyond our control, in a timely manner or at all, we could
experience significant delays and increased costs or an inability to obtain regulatory approvals or commercialize our clinical assets.
Even if regulatory approvals are obtained, we may never be able to successfully commercialize any of our clinical assets. Accordingly,
we cannot assure investors that we will be able to generate sufficient revenue through the sale of our clinical assets or any future
clinical assets to continue operations.

There is substantial
doubt regarding our ability to continue as a going concern. We will need to raise additional funding, which may not be available on acceptable
terms, or at all. Failure to obtain this necessary capital when needed may force us to delay, limit or terminate our commercial programs,
product development efforts or other operations.

The report of our independent registered public accounting
firm on the Company’s financial statements as of and for the year ended December 31, 2024, includes an explanatory paragraph indicating
that there is substantial doubt about our ability to continue as a going concern for at least one year from the date of filing. Through
the date of the Business Combination, Old Conduit financed its working capital requirements by raising capital through private placements
of its ordinary shares and issuing of short-term and convertible notes. The Company has financed its working capital requirements since
the Business Combination primarily through the PIPE Financing (the “PIPE Financing”) completed in September 2023, and through
issuing of short-term and convertible notes.

We will need to raise additional funding, which may
not be available on acceptable terms, or at all. Failure to obtain this necessary capital when needed may force us to delay, limit or
terminate our commercial programs, product development efforts or other