Company: CDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010405
Chunk: 48

Company: CDT Equity Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 48
---
 are included in total consolidated assets reviewed by the chief operating
decision maker and are reported on the consolidated statements of cash flows.

The
CODM uses consolidated net loss and budget-to-actual variances to assess the performance of the operating segment and determine if the
Company is progressing towards its goals.

    27

The
following table presents certain financial data for the Company’s reportable segment (in thousands):

Schedule
of Financial Data for the Company’s Reportable Segment 

    2025  
    2024 

    March 31, 

    2025  
    2024 
  
    Research & development expense – clinical asset development 
    $189  
    $128 
  
    Research & development expense – related parties 
     1,120  
     - 
  
    General and administrative expenses – legal & professional fees 
     760  
     245 
  
    General and administrative expenses – accounting & audit fees 
     544  
     647 
  
    General and administrative expenses – salaries, payroll and stock-based compensation 
     693  
     986 
  
    General and administrative expenses – other 
     703  
     949 
  
    Loss from segment operations 
    $4,009  
    $2,955 

Other
segment items consist of the items within Note 13 to the condensed consolidated financial statements.

17.
Subsequent Events

Share
Repurchase Program

On
April 10, 2025, the Company’s Board of Directors authorized a share repurchase program under which the Company may purchase up
to $1.0 million
of its outstanding common stock. Under the program, Conduit may repurchase shares from time to time through open market transactions
or other methods in compliance with SEC Rule 10b-18. Purchases will be executed by The Benchmark Company, the Company’s appointed
broker, and will be subject to market conditions, corporate liquidity requirements, regulatory considerations, and other factors. As
of the date of this Quarterly Report on Form 10-Q, the Company has repurchased an aggregate of 175,694 shares of its outstanding common
stock at an average price of $0.59/share and paid approximately $2,000 in commission to the broker.

Resignation
of David Tapolczay

On
April 12, 2025 (the “Effective Date”), Dr. David Tapolczay notified the Board of Directors (