Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q/A
Source: 0001641172-25-024123
Chunk: 58

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q/A
Chunk 58
---
 professional fees for accounting, auditing, tax and consulting services, insurance costs, travel, and other operating costs.

| 31 |

We anticipate that our general and administrative expenses will increase substantially for the foreseeable future as we increase our administrative headcount to operate as a public company and as we advance clinical assets through clinical development. We also will incur additional expenses as a result of operating as a public company, including expenses related to compliance with the rules and regulations of the SEC and the Nasdaq listing rules, additional insurance expenses, investor relations activities and other administrative and professional services. In addition, if regulatory approval is obtained for clinical assets, we expect to incur expenses associated with building a sales and marketing team.

Other Income (Expenses)

Other income (expenses), net

Other income (expense), net consists of change in the fair value of options, change in fair value of convertible notes, and expense incurred upon the issuance of warrants during the year.

Interest expense, net

Interest expense, net consists primarily of interest expense on convertible loan notes and promissory notes and interest expense on deferred commissions payable to an advisor for fees related to the merger, as well as a small amount of interest income on cash and cash equivalents held by the Company.

Results of Operations – as Restated

The following table set forth our results of operations for the periods indicated:

| (In thousands, except share and per share amounts) 
 Operating expenses:                                |     | Three Months ended 
 March 31,          
 2025               
 (As Restated)      |        |   |     | 2024 |        |   |
|:---------------------------------------------------|:----|:-------------------|-------:|:--|:----|:-----|-------:|:--|
| Research and development expenses                  |     | $                  |    916 |   |     | $    |    128 |   |
| General and administrative expenses                |     |                    |  2,700 |   |     |      |  2,827 |   |
| Total operating costs and expenses                 |     |                    |  3,616 |   |     |      |  2,955 |   |
| Operating loss                                     |     |                    | (3,616 | ) |     |      | (2,955 | ) |
| Other income (expenses):                           |     |                    |        |   |     |      |        |   |
| Other income (expense), net                        |     |                    |   (