Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 781

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7
Chunk 781
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 and non-cash lease expense are significant
noncash items included in consolidated net loss reviewed by the CODM and are reported on the consolidated statements of cash flows. The
measure of segment assets is reported on the consolidated balance sheets as total consolidated assets. Expenditures for additions to
long-lived assets, which include purchases of property and equipment, are included in total consolidated assets reviewed by the chief
operating decision maker and are reported on the consolidated statements of cash flows.

The
CODM uses consolidated net loss and budget-to-actual variances to assess the performance of the operating segment and determine if the
Company is progressing towards its goals.

The
following table presents certain financial data for the Company’s reportable segment (in thousands):

Schedule
of Financial Data for the Company’s Reportable Segment 

    2024  
    2023 

    December 31, 

    2024  
    2023 
  
    Research & development expense – new licenses 
    $3,114  
    $— 
  
    Research & development expense – clinical asset development 
     264  
     90 
  
    General and administrative expenses – legal & professional fees 
     2,258  
     314 
  
    General and administrative expenses – accounting & audit fees 
     1,625  
     3,064 
  
    General and administrative expenses – salaries, payroll and stock-based compensation 
     4,098  
     721 
  
    General and administrative expenses – other 
     4,060  
     1,073 
  
    Loss from segment operations 
    $15,419  
    $5,262 

Other
segment items consist of the items within Note 17 to the consolidated financial statements.

20.
Subsequent Events

Reverse
Stock Split

On
January 24, 2025, the Company effected the Reverse Stock Split, pursuant to which every 100 shares of the Company’s common stock
issued or outstanding were automatically reclassified into one new share of common stock, subject to the treatment of fractional shares
as previously described, without any action on the part of the holders. For a description of the Reverse Stock Split, refer to Note 1
above.

Nirland Notes
Repayment

On February 7, 2025,
the Company fully repaid its outstanding October 2024 Nirland Note to Nirland Limited in the principal amount of $600,000.