Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 156

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 156
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 in other general and administrative expenses and a $0.1 million decrease in insurance expense
related to the amortization of prepaid directors and officers insurance, partially offset by a $0.7 million increase in legal expenses
and a $0.1 increase in travel expense.

35

Other
Income (Expense), Net

    Six Months ended  June 30,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    Other income (expense), net 
    $(1,992) 
    $(2,613) 
    $621  
     24%

Other
income (expense), net changed by $0.6 million, or 24%, to $2.0 million of expense for the six months ended June 30, 2025, as compared
to $2.6 million of net expense for the six months ended June 30, 2024. The change in other income (expense) for the six months ended
June 30, 2025 is primarily related to a $2.7 million decrease related to the issuance of warrants in exchange for stockholders’
entering into lock-up agreements during the six months ended June 30, 2024, a $0.4 million decrease related to a waiver of interest on
the A.G.P. Convertible Note, and a $0.3 million gain on debt extinguishment, partially offset by a $2.9 million loss on the change in
fair value of convertible notes payable.

For
further details refer to Note 12, “Other income (expense), net,” in the unaudited financial statements as of June 30, 2025
and June 30, 2024 included elsewhere in this document.

Interest
Expense, Net

    Six Months ended  June 30,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    Interest expense, net 
    $(233) 
    $(238) 
    $5  
     2%

Interest expense, net increased by $5,000, or 2%, during the three months ended June 30, 2025, as compared to
the three months ended June 30, 2024. The
change was immaterial for the six months ended June 30,