Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 6

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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opathic male infertility, oncology, dermatology, and animal
health. Ongoing in vitro and in vivo studies, guided by AI insights, are designed to support licensing and commercialization partnerships,
We will seek an exit through third-party license deals following successful in vitro and in vivo pre-clinical trials, entering into agreements
with third-parties to pursue further development, FDA approval, commercialization and marketing of our assets.

Operating
with a lean, asset-agnostic model, CDT Equity Inc. prioritizes speed, adaptability, and capital efficiency. We avoid the cost burden
of late-stage clinical trials, focusing instead on high-leverage development strategies.

On
September 22, 2023 (the “Closing Date”), a merger transaction between Conduit Pharmaceuticals Limited (“Old Conduit”),
Murphy Canyon Acquisition Corp (“MURF”) and Conduit Merger Sub, Inc., a Cayman Islands exempted company and a wholly owned
subsidiary of MURF (“Merger Sub”), was completed (the “Merger”) pursuant to the initial merger agreement dated
November 8, 2022 and subsequent amendments to the merger agreement dated January 27, 2023 and May 11, 2023 (the “Merger Agreement”).
Pursuant to the terms of the Merger Agreement, on the Closing Date, (i) Merger Sub merged with and into Old Conduit, with Old Conduit
surviving the merger as a wholly-owned subsidiary of MURF, and (ii) MURF changed its name from Murphy Canyon Acquisition Corp. to Conduit
Pharmaceuticals Inc. On September 25, 2023, the Company’s Common Stock commenced trading on The Nasdaq Capital Market under the
symbol “CDT” and the Company’s warrants commenced trading on The Nasdaq Capital Market under the symbol “CDTTW”.
Effective August 5, 2025, the Company changed its name from Conduit Pharmaceuticals Inc. to CDT Equity Inc. Our change to CDT Equity
Inc. reflects the evolution of our strategy as a data-driven biotech development company focused on identifying, enhancing, and advancing
high-potential therapeutic assets through scientific innovation and strategic partnerships.

Basis
of Presentation

The
accompanying unaudited condensed consolidated financial statements have been prepared by the Company in accordance with U.S. GAAP as
set forth by the Financial Accounting Standards Board (“FASB”) and pursuant to the rules