Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 106

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 research and development expense
in the condensed consolidated statement of operations and comprehensive income loss for the three and six months ended June 30, 2025,
respectively. The remaining $0.4 million was related to the delivery of the dashboard, which was recorded as a diagnostic asset
on the condensed consolidated balance sheet as of March 31, 2025.

Master
Service Agreement – CDT Equity Inc. and Charles River Laboratories

On
February 7, 2025, the Company and Charles River Laboratories (“Charles River”) entered into a Master Services Agreement (the
“Charles River MSA”). Under the Charles River MSA, Charles River agreed to provide preclinical testing and research services
to CDT, including the evaluation of compounds in animal models and other related services. The services are defined in individual
Statements of Work (“SOWs”) or Protocols, which outline the specific scope, design, and timelines for each study. To date,
one SOW, dated February 11, 2025, has been entered into with a total commitment of $0.2 million. Charles River will conduct the studies
in compliance with applicable laws and industry standards, and CDT will provide necessary test articles and materials. The Charles
River MSA includes provisions for confidentiality, intellectual property ownership, indemnification, and dispute resolution. The Charles
River MSA has a term of five years and can be terminated by either party under specified conditions. For the three and six months ended
June 30, 2025, the Company recognized $0.1 million in research and development expense in the condensed consolidated statement of operations
and comprehensive loss related to the Charles River MSA.

    20

SARBORG
Additional Agreement

Effective
March 31, 2025, the Company entered into an additional license and use agreement (the “Sarborg Additional Agreement”)
with Sarborg, a related party, covering certain additional deliverables and incorporating a new scope of work focused on analysis of
the Company’s acquired AstraZeneca assets. The term of the Sarborg Additional Agreement is for six months and provides for the
payment, in aggregate, of $2.0
million, which includes an up-front license fee for the term of such agreement, in cash or stock at the Company’s election at
the closing price on the day preceding the effective date of such agreement. On March 31, 2025, the Company prepaid $1.65
million of the Sarborg Additional