Company: CDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022373
Chunk: 74

Company: CDT Equity Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 74
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 million, or 30%, to $11.3 million for the nine months ended September 30, 2025, as compared
to $8.7 million for the nine months ended September 30, 2024. The increase was primarily driven by a $2.1 million increase in legal expenses,
a $0.3 million increase in salaries and stock compensation expense, a $ 0.3 million increase in travel expense, and a $0.1 million increase
in professional fees, partially offset by a $0.2 million decrease in insurance expense.

31

Other
Income (Expense), Net

    Nine Months ended  September 30,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    Other income (expense), net 
    $(2,036) 
    $(2,954) 
    $918  
     (31)%

Other
income (expense), net changed by $0.9 million, or 31%, to $2.0 million of expense for the nine months ended September 30, 2025, as compared
to $3.0 million of net expense for the nine months ended September 30, 2024. The change was primarily driven by a $2.7 million decrease
related to the issuance of warrants in exchange for stockholders’ entering into lock-up agreements during the nine months ended
September 30, 2024, a $0.4 million decrease related to a waiver of interest on the A.G.P. Convertible Note, a $0.4 million expense related
to a loss contingency recorded during the nine months ended September 30, 2024, a $0.3 million gain on debt extinguishment, a $0.1 million
gain on the issuance of shares for services and a $0.1 million research and development tax credit receivable recorded during the nine
months ended September 30, 2025, partially offset by a $3.0 million loss on the change in fair value and loss on conversion of convertible
notes payable.

For
further details refer to Note 13, “Other income (expense), net,” in the unaudited financial statements as of September 30,
2025 and September 30, 2024 included elsewhere in this document.

Interest
Expense, Net

    Nine Months ended  September 30,