Company: CDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022373
Chunk: 39

Company: CDT Equity Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 39
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 was $0.2
million and was recorded as prepaid within the condensed consolidated
balance sheets. The shares are being amortized over the initial 12-month term of the Sarborg Service Agreement to research and development
expenses. On March 31, 2025, the Company issued 15,449
fully vested unregistered shares of Common Stock to prepay
the Sarborg Additional Agreement. The fair value of the shares issued was $1.5
million and was recorded as prepaid within the condensed consolidated
balance sheets. There were no share issuances for initial fees payable to Sarborg in relation to the First Addendum and Second
Addendum.

During the three and nine months ended
September 30, 2025, the Company recorded $0.1
million and $1.7
million, respectively, in research and development expense related to the Sarborg Service Agreement. During the three and nine
months ended September 30, 2025, the Company recorded $0.4
million and $1.3
million as research and development expense related to the Sarborg Additional Agreement. During the three and nine months ended September 30, 2025, the Company recorded $0.3 million and $0.3 million as research and development
expense related to the First Addendum. During the three and nine months ended September 30, 2025, the Company recorded $0.4 million and
$0.4 million as research and development expense related to the Second Addendum. Refer to Note 7 above for additional information.

Officers
and Directors

On
April 22, 2024, the Company issued in a private placement Common Stock purchase warrants (the “April Warrants”) to third
parties which also included certain directors, to purchase up to an aggregate of 75 shares of the Company’s Common Stock, in exchange
for entering into a lock-up with respect to the shares of Common Stock held by such holder and for such directors, an additional $1,500
per warrant. The April Warrants are not exercisable until one year after their date of issuance. Each April Warrant is exercisable into
one share of the Company’s Common Stock at a price per share of $37,440 (as adjusted from time to time in accordance with the terms
thereof) for a two-year period after the date of exercisability.

Manoira

On
June 3, 2025, the Company entered into a joint development