Company: CDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010405
Chunk: 4

Company: CDT Equity Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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 -  
     -  
     (3,552) 
     -  
     (3,552)
  
    Balance at March 31, 2024 
     738,295  
    $7  
    $11,357  
    $(14,851) 
    $388  
    $(3,099)
  
    Balance 
     738,295  
    $7  
    $11,357  
    $(14,851) 
    $388  
    $(3,099)

The
accompanying notes are an integral part of these condensed consolidated financial statements.

3

CONDUIT
PHARMACEUTICALS INC.

CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

(in
thousands)

    2025  
    2024 

    Three Months ended March 31, 

    2025  
    2024 
  
    Cash flows used in operating activities: 

    Net loss 
    $(5,146) 
    $(3,552)
  
    Adjustments to reconcile net loss to net cash used in operating activities: 

    Loss on debt extinguishment, net 
     1,840 
     - 
  
    Unrealized foreign exchange loss (gain) 
     (26) 
     6 
  
    Gain on debt extinguishment 
     (274) 
     - 
  
    Gain on change in fair value of warrants 
     (130) 
     (19)
  
    Gain on waiver of accrued interest 
     (371) 
     - 
  
    Operating lease obligations 
     29  
     (25)
  
    Issuance of warrants for lock-up 
     -  
     502 
  
    Stock-based compensation expense 
     234  
     431 
  
    Non-cash interest expense 
     167  
     79 
  
    Depreciation expense 
     5  
     - 
  
    Amortization of financed Directors and Officers insurance 
     369  
     422 
  
    Amortization Expense 
     185  
     - 
  
    Changes in operating assets and liabilities: 

    Prepaid expenses and other current assets 
     (255) 
     (153)
  
    Accounts payable