Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 112

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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.85  
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The
aggregate intrinsic value of options is calculated as the difference between the exercise price of the underlying options and the fair
value of the Company’s Common Stock for those options that had exercise prices lower than the fair value of the Company’s
Common Stock. As of June 30, 2025, the total compensation cost related to non-vested option awards not yet recognized was $1.6 million
with a weighted average remaining vesting period of 1.41 years.

For
the three months ended June 30, 2025 and June 30, 2024, there was a total of $0.2 million and $0.5 million, respectively in stock-based
compensation expense recognized within General and Administrative expenses on the condensed consolidated statements of operations and
comprehensive loss, respectively.

For
the six months ended June 30, 2025 and June 30, 2024, there was a total of $0.4 million and $0.9 million, respectively in stock-based
compensation expense recognized within General and Administrative expenses on the condensed consolidated statements of operations and
comprehensive loss, respectively.

8.
Income Taxes

For
the six months ended June 30, 2025, and 2024, the Company’s effective tax rate was 0.0% due to the current year tax loss and valuation allowance established against the Company’s net deferred tax assets,
and due to operating in a zero tax jurisdiction, respectively.

9.
Common Stock and Preferred Stock

At-the-Market
Offering

On
October 23, 2024, the Company entered into the Sales Agreement with A.G.P. (the “Sales Agreement”) relating to shares of
the Company’s Common Stock. In accordance with the terms of the Sales Agreement, the Company may offer and sell shares of our
Common Stock having an aggregate offering price of up to $23.9
million from time to time through A.G.P., acting as our sales agent or principal.

The
compensation to A.G.P. for sales of Common Stock sold pursuant to the Sales Agreement will be equal to 3.0% of the gross proceeds of
any shares of Common Stock sold under the sales agreement.

During
the three and six months ended June 30, 2025, the Company sold 1,183,221 and 1,472,945 shares of the Company’s Common Stock through
the Sales Agreement, respectively.