Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 123

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 123
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 due to, among other things, legal costs and the diversion of the attention of
our management.

Leases

The
Company has a lease agreement with respect to approximately 2,100 square feet of space in Cambridge, England, for a lease term from March 2024 to January 2027. As of June 30, 2025, the Company has a right-of-use asset of $0.2 million and corresponding
lease liability of $0.2 million recorded on the condensed consolidated balance sheets. Of the $0.2 million lease liability, $0.1 million
is classified as short-term and $46,000 is classified as long-term. As of June 30, 2025, the Company has $0.2 million in future
minimum lease payments remaining.

    29

15.
Segments

The
Company has one operating segment focused on the research and development of clinical assets. The accounting policies of the single operating
segment are identical to those described in Note 1. The Chief Operating Decision Maker (“CODM”), which the Company has identified as Dr. Andrew Regan, Chief Executive Officer,
manages the Company’s operations on a consolidated basis, assesses performance for the operating segment and decides how to allocate
resources based on consolidated net loss, which is reported on the condensed consolidated statements of operations and comprehensive
loss. Depreciation expense, amortization expense, stock-based compensation expense, 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 

    Three
                                            Months ended
                                                                                June
                                            30,  
    Six
                                            Months ended  June
                                            30, 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    2025