Company: CDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010405
Chunk: 118

Company: CDT Equity Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 118
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 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

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

    Three Months ended
                                                                                March 31, 
  
    (In thousands, except share and per share amounts) 
    2025  
    2024 
  
    Operating expenses: 

    Research and development expenses 
    $1,309  
    $128 
  
    General and administrative expenses 
     2,700  
     2,827 
  
    Total operating costs and expenses 
     4,009  
     2,955 
  
    Operating loss 
     (4,009) 
     (2,955)
  
    Other income (expenses): 

    Other income (expense), net 
     (969) 
     (487)
  
    Interest Income 
     8  
     9 
  
    Interest expense, net 
     (176) 
     (119)
  
    Total other (expense) income, net 
     (1,137) 
     (597)
  
    Net loss 
    $(5,146) 
    $(3,552)

Comparison
of the Three Months Ended March 31, 2025 and 2024

Research
and Development Expenses

    Three Months ended March 31,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    Research and development expenses 
    $1,309  
    $128  
    $1,181  
     923%

Research
and development expenses increased by $1.2 million, or 923%, to approximately $1.3 million for the three months ended March 31, 2025,
as compared to $0.1 million for the three months ended March