Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 206

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 2
Chunk 206
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 amounts in thousands) 
    2024  
    2023  
    Amount  
    % 
  
    Other income (expense), net 
    $(890) 
    $4,923  
    $(5,813) 
     (118)%

Other
income (expense), net changed by $5.8 million, or 118%, to other expense of approximately $0.9 million for the year ended December
31, 2024, as compared to other income of $4.9 million for the year ended December 31, 2023. In 2024, other expense was driven by a
$2.7 million loss on the issuance of warrants, and a $0.7 million expense related to a net loss on extinguishments, offset by a $2.0
million gain on the change in fair value of convertible notes payable, a $0.3 million increase from an income tax refund and a $0.2
million increase in the gain on change in fair value of warrants. In 2023, other income was driven by a $1.5 million gain on the
derecognition of the Cizzle option in 2023, a $1.3 million gain on the change in fair value of the Cizzle option, a $2.8 million
gain on the derecognition of the deferred revenue for the Vela option prior to the exercise of the Vela option, and a $1.0 million
gain on the change in fair value of the Vela option. This was offset by a $1.0 million loss on issuance related to the Vela option,
$0.4 million change in the fair value of convertible notes payable and $0.3 million realized foreign currency transaction
loss.

For
further details refer to Note 17 in the consolidated financial statements as of December 31, 2024 and 2023 included elsewhere in this
Annual Report.

62

Interest
expense, net

    Years ended December 31,  
    Change 
  
    (Dollar amounts in thousands) 
    2024  
    2023  
    Amount  
    % 
  
    Interest expense, net 
    $(1,506) 
    $(211) 
    $(1,295) 
     614%

Interest
expense, net changed by $1.3 million or 614%, to $1.5 million for the year ended December 31