Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 116

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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5, the Company recorded $0.8
million as research and development expense related to the Sarborg Additional Agreement. Refer to Note 6 above for additional
information.

Officers
and Directors

On
April 22, 2024, the Company issued in a private placement Common Stock purchase warrants (the “April Warrants”) to third
parties which also included certain directors, to purchase up to an aggregate of 605 shares of the Company’s Common Stock, in exchange
for entering into a lock-up with respect to the shares of Common Stock held by such holder and for such directors, an additional $187.50
per warrant. The April Warrants are not exercisable until one year after their date of issuance. Each April Warrant is exercisable into
one share of the Company’s Common Stock at a price per share of $4,680 (as adjusted from time to time in accordance with the terms
thereof) for a two-year period after the date of exercisability.

Manoira

On
June 3, 2025, the Company entered into a joint development agreement (the “Joint Development Agreement”) with Manoira
Corporation. Dr. Andrew Regan, Chief Executive Officer and member of the Board, also is a director and
controlling member of Manoira. Chele Farley, a member of the Board, is Manoira’s sole director.
Through the Joint Development Agreement, the Company and Manoira intend to jointly evaluate AZD1656, and any of its derivatives, as
well as AZD5658, in animal health indications and produce transitional data to inform the Company’s human clinical programs
while exploring veterinary market opportunities. The Company delivered shares of the Company’s Common Stock worth $0.5
million to Manoira as its contribution to the Joint Development Agreement, with Manoira bearing
all subsequent costs incurred during the joint development period. During the three and six months ended June 30, 2025, the Company
recorded a $0.4
million prepaid expense related to the Joint Development Agreement. Refer to Note 6 for additional details.

    25

12.
Other Expense, net

The
following table presents other income (expense), net, for the three and six months ended June 30, 2025 and 2024 (in thousands):

 Schedule
of Other Expense, Net 

    For the three months ended June 30,  
    For the six