Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 508

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 508
---
.5 million change in operating assets and liabilities, a $2.3 million gain on the change in fair value of the Vela and Cizzle options,
a $0.2 million change in the reserve for uncollectible loans and a $0.1 million gain on warrant remeasurement, partially offset by a
$1.0 million loss upon the issuance of the Vela option, a $0.5 million change in amortization on directors & officers insurance,
a $0.4 million loss on change in fair value of convertible notes and a $0.2 million increase in stock based compensation expense. The
$2.5 million cash outflow from operating assets and liabilities is primarily due to a $1.0 million cash outflow from prepaid expenses
and a $1.7 million cash outflow from accrued expenses and other current liabilities partially offset by a $0.2 million cash inflow from
accounts payable.

65

Cash
Flows (Used) Provided by Investing Activities

Net
cash used in investing activities for the year ended December 31, 2024 was $43 thousand, resulting from purchases
of short-term investments of $0.5 million and purchases of property, plant and equipment of $0.1 million, partially offset by sales of
short-term investments of $0.5 million.

Net
cash provided by investing activities for the year ended December 31, 2023 was $0.7 million, resulting from $0.5 million in proceeds from
an option fee received from Vela and $0.6 million proceeds from the repayment of a loan from a related party, partially
offset by an issuance of a loan to a related party of $0.4 million.

Cash
Flows Provided by Financing Activities

Net
cash provided by financing activities for the year ended December 31, 2024 was $6.1 million, resulting from proceeds from the Sales Agreement
of $3.3 million, proceeds from the issuance of notes payable of $3.2 million, proceeds from the exercise of warrants of $0.2 million
and proceeds from the exercise of warrants of $0.1 million, partially offset by repayments of notes payable of $0.8 million.

Net
cash provided by financing activities during the year ended December 31, 2023 was $11.0 million. resulting from the proceeds from the
Merger and related PIPE financing, net of transaction costs of $8.5 million, $2