Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 3

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 3
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 operations. We do not expect to generate meaningful product revenues
in the foreseeable future. Based on our current business plan as of the date of our consolidated financial statements appearing elsewhere
in this Annual Report on Form 10-K, there is substantial doubt regarding our ability to continue as a going concern. We will need to raise
additional funding in order to execute on our current business plans and strategy, including prior to becoming profitable.

Our efforts to raise additional funding may divert
our management from their day-to-day activities, which may adversely affect our ability to develop our products. In addition, we cannot
guarantee that financing will be available in sufficient amounts or on terms acceptable to us, if at all. Moreover, the terms of any financing
may adversely affect the holdings or the rights of our stockholders and the issuance of additional securities, whether equity or debt,
by us, or the possibility of such issuance, may cause the market price of our shares to decline. The sale of additional equity or convertible
securities would dilute all of our stockholders. The incurrence of indebtedness would result in increased fixed payment obligations, and
we may be required to agree to certain restrictive covenants, such as limitations on our ability to incur additional debt, limitations
on our ability to acquire, sell or license intellectual property rights and other operating restrictions that could adversely impact our
ability to conduct our business. We could also be required to seek funds through arrangements with collaborative partners or otherwise
at an earlier stage than otherwise would be desirable and we may be required to relinquish rights to some of our technologies or product
candidates or otherwise agree to terms unfavorable to us, any of which may have a material adverse effect on our business, operating results
and prospects.

Moreover, as a result of recent volatile market conditions,
the cost and availability of capital has been and may continue to be adversely affected. Concern about the stability of the banking sector
has generally led many lenders and institutional investors to reduce, and in some cases, cease to provide credit to businesses and consumers.
Continued turbulence in the U.S. market and economy may adversely affect our liquidity and financial condition, including our ability
to access the capital markets to meet liquidity needs.

If we are unable to obtain funding on a timely basis,
or if revenues from collaboration arrangements are less than we have projected, we may be required to further revise our business plan
and strategy, which may result in us significantly curtailing, delaying or discontinuing one or more of our research or development programs