Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q/A
Source: 0001641172-25-024123
Chunk: 65

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q/A
Chunk 65
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, $0.2 million of amortization expense, $0.4 million
of prepaid directors and officers insurance amortization and a $1.6 million cash outflow from operating assets and liabilities. The $1.6
million cash outflow from operating assets and liabilities is primarily due to a $0.7 million cash outflow from accounts payable, a $0.2
million cash outflow from accrued expenses and other current liabilities, and a $0.3 million cash outflow from prepaid expenses and other
current assets.

Net cash used in operating activities for the three months ended March 31, 2024, was $2.4 million, resulting primarily from a net loss of $3.6 million, adjusted for non-cash items including $0.4 million of stock-based compensation, a $0.4 million of amortization expense, a $0.5 million expense on the issuance of warrants and a $0.1 million interest expense of the deferred commission payable. The $0.2 million cash outflow from operating assets and liabilities is primarily due to a $0.1 million cash inflow from accrued expense and other current liabilities due to differences in the timing of disbursements and a $0.2 million cash outflow from prepaid expenses.

Cash Flows (Used) Provided by Investing Activities

Net cash used in investing activities for the three months ended March 31, 2025 was $0.4 million, resulting from purchases of intangible assets and property, plant and equipment totaling $0.4 million.

There was no cash flow from investing activities for the three months ended March 31, 2024.

Cash Flows Provided by Financing Activities

Net cash provided by financing activities for the three months ended March 31, 2025 was $5.9 million, resulting from proceeds from the issuance of common shares related to the ATM program of $8.1 million. This was offset by repayments of notes payable of $0.6 million, repayments of convertible notes payable – related parties of $0.9 million and repayment of convertible notes payable of $0.6 million.

There was no cash flow from financing activities for the three months ended March 31, 2024.

Contractual Obligations and Other Commitments

Laboratory Lease

We are the lessee under a
laboratory space lease. The annual rent payments are $0.1 million for the years ending December 31, 2025 and December 31,