Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 507

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 507
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    2024  
    2023 
  
    Net cash (used in) provided by: 

    Operating Activities 
    $(9,682) 
    $(7,725)
  
    Investing Activities 
     (43) 
     725 
  
    Financing Activities 
     6,067  
     10,929 
  
    Effect of exchange rate changes on cash and cash equivalents 
     (16) 
     299 
  
    Net (decrease) increase in cash and cash equivalents 
    $(3,674) 
    $4,228 

Cash
Flows Used in Operating Activities

Net
cash used in operating activities for the year ended December 31, 2024 was $9.7 million, resulting primarily from a net loss of $17.8
million, a gain on the change in fair value of convertible notes payable of $2.0 million, a gain on change in fair value of warrant liabilities
of $0.2 million and a $0.1 million cash outflow from operating assets and liabilities. This was partially offset by a $2.7 million loss
on the issuance of warrants, $1.7 million of amortization of directors and officers insurance, a $1.6 million outflow attributable to
the purchase of licensing rights, $1.6 million of stock-based compensation, $0.9 million of debt discount amortization, a $0.7 million
loss on debt extinguishment, $0.5 million of non-cash interest expense, $0.4 million of amortization expense, a $0.2 million share issuance
for services and a $0.1 million of non-cash lease expense. The $0.1 million cash outflow from operating assets and liabilities is primarily
due to a $2.3 million cash outflow from prepaid expenses and other current assets and a $0.1 million cash outflow from lease liabilities,
partially offset by a cash inflow of $1.2 million from accounts payable and a cash inflow of $1.2 million from accrued expenses and other
current liabilities.

Net
cash used in operating activities for the year ended December 31, 2023 was $7.7 million, resulting primarily from a net loss of $0.5
million, adjusted for non-cash items including a $4.3 million reduction of deferred income upon exercise of the Cizzle and Vela option,
a $2