Company: CDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010405
Chunk: 137

Company: CDT Equity Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 137
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     2,827 
  
    Total operating costs and expenses 
     4,009  
     2,955 
  
    Operating loss 
     (4,009) 
     (2,955)
  
    Other income (expenses): 

    Other income (expense), net 
     (969) 
     (487)
  
    Interest Income 
     8  
     9 
  
    Interest expense, net 
     (176) 
     (119)
  
    Total other (expense) income, net 
     (1,137) 
     (597)
  
    Net loss 
    $(5,146) 
    $(3,552)

Comparison
of the Three Months Ended March 31, 2025 and 2024

Research
and Development Expenses

    Three Months ended March 31,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    Research and development expenses 
    $1,309  
    $128  
    $1,181  
     923%

Research
and development expenses increased by $1.2 million, or 923%, to approximately $1.3 million for the three months ended March 31, 2025,
as compared to $0.1 million for the three months ended March 31, 2024. The increase was primarily due to $1.1 million of expense recorded
under the Sarborg Service Agreement and $0.1 million of expense incurred under the Charles River MSA.

General
and Administrative Expenses

    Three Months ended March 31,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    General and administrative expenses 
    $2,700  
    $2,827  
    $(127) 
     (4)%

General
and administrative expenses decreased by $0.1 million, or 4%, to $2.7 million for the three months ended March 31, 2025, as compared
to $2.8 million for the three months ended March 31, 2024. The decrease was primarily driven by a $0.3 million decrease in salaries and
stock compensation expense, a $0.1 million decrease in travel and