Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 80

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 80
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 on a May Reverse Stock Split-adjusted
basis on May 20, 2025, at market open under the existing ticker symbol, “CDT.” As of the Effective Time, every 15 shares
of the Company’s issued and outstanding Common Stock was combined into one share of Common Stock. The May Reverse Stock Split
did not affect the number of authorized shares of Common Stock or the par value of the Common Stock. No fractional shares were
issued in connection with the May Reverse Stock Split. Stockholders who would otherwise have been entitled to receive fractional
shares as a result of the May Reverse Stock Split were entitled to a cash payment in lieu thereof at a price equal to the fraction
to which the stockholder would otherwise be entitled multiplied by the closing price per share of the Common Stock (as adjusted to
give effect to the May Reverse Stock Split) on The Nasdaq Global Market on May 20, 2025.

All
historical share and per-share amounts reflected throughout the accompanying consolidated financial statements and other financial information
in this Quarterly Report on Form 10-Q have been retroactively adjusted to reflect the January Reverse Stock Split and May Reverse Stock
Split as if the splits occurred as of the earliest period presented.

Other
Risks and Uncertainties

The
Company is subject to risks common to companies in the development stage and pharmaceutical industry including, but not limited to, uncertainties
related to pre-clinical and clinical outcomes competitor products, regulatory approvals, dependence on key products, dependence on key
suppliers and protection of intellectual property rights (see Note 14 for details on a claim against our AZD 1656 co-crystal patent).
Clinical assets currently under development will require significant additional research and development efforts, including extensive
preclinical and clinical testing and regulatory approval prior to commercialization. These efforts will require significant amounts of
additional capital, adequate personnel, infrastructure, and extensive compliance and reporting capabilities. Even if the Company’s
efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue and cash flow from royalties or product
sales.

The
Company licenses clinical assets from AstraZeneca (see Note 6 for further detail). If there is a breach or other termination of such
agreements, there could be a material adverse effect on the Company’s business, financial condition, operating results, and prospects.

Related party transactions and arrangements, specifically research and development related transactions, the Company enters into subject
the Company to certain risks. Related party transactions in