Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 576

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 576
---
 have been prepared assuming the Company will continue as a going concern and do not include adjustments to reflect
the possible effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result
from the outcome of this uncertainty.

Reverse
Stock Split

On
January 24, 2025, the Company amended its Second Amended and Restated Certificate of Incorporation with the Secretary of State of the
State of Delaware in order to effect a 1-for-100 reverse stock split of its outstanding shares of common stock (the “Reverse Stock
Split”). As a result of the reverse stock split, 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 described below, without
any action on the part of the holders. All historical share and per-share amounts reflected throughout the accompanying consolidated
financial statements and other financial information in this Annual Report on Form 10-K have been retroactively adjusted to reflect the
2025 Reverse Stock Split as if the split occurred as of the earliest period presented. The Reverse Stock Split did not affect the number
of authorized shares of common stock or the par value of the common stock. No fractional shares were issued in connection with the Reverse
Stock Split. Stockholders who would otherwise have been entitled to receive fractional shares as a result of the Reverse Stock Split
were entitled to a cash payment in lieu thereof at a price equal to the fraction to which the stockholder would otherwise be entitled
multiplied by the closing price per share of the common stock (as adjusted to give effect to the Reverse Stock Split) on The Nasdaq Global
Market on January 24, 2025.

    F-8

Other
Risks and Uncertainties

The
Company is subject to risks common to companies in the development stage and pharmaceutical industry including, but not limited to, uncertainties
related to pre-clinical and clinical outcomes competitor products, regulatory approvals, dependence on key products, dependence on key
suppliers and protection of intellectual property rights (see note 15 for details on a claim against our AZD 1656 co-crystal patent).
Clinical assets currently under development will require significant additional research and development efforts, including extensive
preclinical and clinical testing and regulatory approval prior to commercialization. These efforts will require significant amounts of
additional capital, adequate personnel, infrastructure, and extensive compliance and reporting capabilities. Even if the Company’s
efforts are successful