Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 131

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 131
---
(2,840)
  
    Net loss 
    $(6,028) 
    $(5,383) 
    $(10,781) 
     (8,935)

Comparison
of the Three Months Ended June 30, 2025 and 2024

Research
and Development Expenses

    Three Months ended  June 30,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    Research and development expenses 
    $1,860  
    $25  
    $1,835  
     7,340%

Research
and development expenses increased by $1.8 million, or 7,340%, for the three months ended June 30, 2025, as compared to $25 thousand
for the three months ended June 30, 2024. The increase was primarily due $1.6 million of expense recorded under the Sarborg Service Agreement
and Sarborg Additional Agreement and $0.1 million of expense recorded under the Thesprogen Agreement, and $0.1 million in other research and development related activity.

General
and Administrative Expenses

    Three Months ended  June 30,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    General and administrative expenses 
    $3,092  
    $3,115  
    $(23) 
     (1)%

General
and administrative expenses decreased by $23,000, or approximately one percent, during the three months ended June
30, 2025, as compared to the three months ended June 30, 2024. The decrease was driven by a $0.4 million decrease in
payroll and stock-based compensation expense, partially offset by a $0.2 million increase in legal fees, a $0.1 million increase in accounting
and audit expense and a $0.1 million increase in travel expense.

34

Other
Income (Expense), Net

    Three Months ended  June 30,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    Other income (expense), net 
    $(1,023) 
    $(2,126) 
    $(1