Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q/A
Source: 0001641172-25-024123
Chunk: 40

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q/A
Chunk 40
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.52 |     |                                                     | 9.72 |     | $                                        | - |
| Granted                          |     |                   |      - |   |     | $                               |     - |     |                                                     |    - |     | $                                        | - |
| Cancelled/forfeited              |     |                   |   (419 | ) |     | $                               |   551 |     |                                                     |    - |     | $                                        | - |
| Exercised                        |     |                   |      - |   |     | $                               |     - |     |                                                     |    - |     | $                                        | - |
| Outstanding at March 31, 2025    |     |                   | 65,090 |   |     | $                               | 78.49 |     |                                                     | 9.24 |     | $                                        | - |
| Exercisable                      |     |                   | 22,735 |   |     | $                               | 75.57 |     |                                                     | 9.48 |     | $                                        | - |
| Unvested                         |     |                   | 42,355 |   |     | $                               | 84.68 |     |                                                     | 9.10 |     | $                                        | - |

The aggregate intrinsic value of options is calculated as the difference between the exercise price of the underlying options and the fair value of the Company’s common stock for those options that had exercise prices lower than the fair value of the Company’s common stock. As of March 31, 2025, the total compensation cost related to non-vested option awards not yet recognized was $ 2.0million with a weighted average remaining vesting period of 1.64years.

For the three months ended March
31, 2025 and March 31, 2024, there was a total of $0.2 million and $0.4 million, respectively in stock-based compensation expense recognized
within General and Administrative expenses on the condensed consolidated statements of operations and comprehensive loss, respectively.

10. Income Taxes

For the three months ended March 31, 2025, and 2024, the Company’s effective tax rate was 0.0% and 0.0%, respectively, due to the current year tax loss and valuation allowance established against the Company’s net deferred tax assets, and due to operating in a no tax jurisdiction, respectively.

| 22 |

11. Common Stock and Preferred