C
CDT Equity Inc.
Period
FY 2025
Revenue
—
Net Income
$-39.22M
Total Assets
$5.65M
Equity
$-7.17M
Shares Out
4.86M
Op. Cash Flow
$-15.60M
Business
CDT Equity Inc. is a data-driven pharmaceutical development company focused on identifying, enhancing, and advancing high-potential clinical-stage therapeutic assets through scientific innovation and strategic partnerships. The company develops therapeutic candidates in autoimmune disorders, idiopathic male infertility, oncology, dermatology, rare disease, and animal health by leveraging advanced co-crystallization and solid-form chemistry technologies, combined with AI-powered disease mapping through its partnership with Sarborg Limited. CDT operates a lean, asset-agnostic model, conducting preclinical studies and early-stage clinical development with the intent to license assets to third parties for further development and commercialization.
Summary from 10-K filed 2026-04-15
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Research and development expenses | 5 | 3 | 90,000 | 37,000 | |
| General and administrative expenses | 32 | 12 | 5 | 3 | |
| Total operating costs and expenses | 37 | 15 | 5 | 3 | |
| Operating loss | −37 | −15 | −5 | −3 | |
| Other expense, net | −2 | −890,000 | 5 | −2 | |
| Interest income | 28,000 | 13,000 | 15,000 | — | |
| Interest expense, net | −319,000 | −2 | −211,000 | — | |
| Total other expense, net | −2 | −2 | 5 | −2 | |
| Net loss | −39 | −18 | −535,000 | −5 | |
| Basic net loss per share | −1,178 | −61,599 | −0.79 | −0.13 | |
| Diluted net loss per share | −1,178 | −61,599 | −8.92 | −0.13 | |
| Basic weighted-average common shares outstanding | 33,300 | 289 | 669,739 | 37 | |
| Diluted weighted-average common shares outstanding | 33,300 | 289 | 678,939 | 37 | |
| Foreign currency translation adjustment | −430,000 | 3,000 | −264,000 | 753,000 | |
| Total comprehensive loss | −40 | −18 | −799,000 | −4 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2024 2024-02-29 | FY 2023 2023-12-31 | FY 2023 2023-09-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 2 | 554,000 | — | 4 | — | |
| Prepaid R&D services- related party (see Note 10 and Note 16) | 881,000 | 380,000 | — | — | — | |
| Prepaid R&D services | 166,000 | — | — | — | — | |
| Prepaid expenses and other current assets | 2 | 2 | — | 2 | — | |
| Total current assets | 4 | 3 | — | 6 | — | |
| Operating lease right-of-use assets, net | 142,000 | 263,000 | 400,000 | — | — | |
| Equipment and clinical assets, net | 269,000 | 40,000 | — | — | — | |
| Prepaid expenses and other long-term assets | 860,000 | 1 | — | — | — | |
| Total assets | 6 | 4 | — | 7 | — | |
| Accounts payable | 2 | 1 | — | 215,000 | — | |
| Accrued expenses and other current liabilities | 538,000 | 2 | — | 601,000 | — | |
| Accrued litigation liability | 10 | — | — | — | — | |
| Operating lease liability, current portion | 115,000 | 119,000 | 200,000 | — | — | |
| Convertible promissory note payable | — | 800,000 | — | 800,000 | — | |
| Total current liabilities | 13 | 11 | — | 2 | — | |
| Operating lease liability, non-current portion | — | 107,000 | 200,000 | — | — | |
| Derivative warrant liability | — | 138,000 | — | 142,000 | — | |
| Total liabilities | 13 | 11 | — | 8 | — | |
| Commitments and contingencies (see Note 15) | — | — | — | — | — | |
| Common stock, par value $0.0001; 250,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively, 92,140 shares and 461 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | — | — | — | 7,000 | — | |
| Preferred stock, par value $0.0001; 1,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively; nil shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | — | — | — | — | — | |
| Additional paid-in capital | 61 | 22 | — | 10 | 10 | |
| Accumulated deficit | −68 | −29 | — | −11 | −12 | |
| Accumulated other comprehensive income (loss) | −16,000 | 414,000 | — | 411,000 | — | |
| Total stockholders equity (deficit) | −7 | −7 | — | −457,000 | — | |
| Total liabilities and stockholders equity (deficit) | 6 | 4 | — | 7 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Compensation expense recognized for the issuance of shares and warrants in connection with the sale of a previously controlled subsidiary | 7 | — | — | — | |
| Gain on debt extinguishment, net | −278,000 | — | — | — | |
| Loss on debt extinguishment, net | — | 707,000 | — | — | |
| Realized gain on short-term investments | — | −8,000 | — | — | |
| Loss on disposal of crypto holdings | 403,000 | — | — | — | |
| Gain on waiver of accrued interest | −371,000 | — | — | — | |
| Unrealized foreign exchange gain / loss | −16,000 | 13,000 | −39,000 | — | |
| Loss (gain) on change in fair value of convertible notes payable | 3 | −2 | — | — | |
| Gain on change in fair value of warrants | −138,000 | −221,000 | −81,000 | — | |
| Loss on issuance of warrants | — | 3 | — | — | |
| Non-cash lease expense | 125,000 | 89,000 | — | — | |
| Stock-based compensation expense | 2 | 2 | 199,000 | — | |
| Issuance of common stock for licensing right | — | 2 | — | — | |
| Non-cash interest expense | 253,000 | 536,000 | 87,000 | — | |
| Depreciation expense | 21,000 | 10,000 | — | — | |
| Amortization of prepaid directors and officers insurance | 1 | 2 | 479,000 | — | |
| Amortization expense | 2 | 447,000 | — | — | |
| Issuance of common stock for services | 1 | — | — | — | |
| Issuance of common stock for services - related party | 2 | — | — | — | |
| Amortization of debt discount | — | 929,000 | — | — | |
| Gain (loss) on issuance of common stock for services | −70,000 | 202,000 | — | — | |
| Prepaid expenses and other current assets | −4 | −2 | −990,000 | — | |
| Accounts payable | 434,000 | 1 | 215,000 | — | |
| Accrued expenses and other current liabilities | −1 | 1 | −2 | 601,000 | |
| Accrued litigation liability | 10 | — | — | — | |
| Lease liability | −125,000 | −124,000 | — | — | |
| Net cash used in operating activities | −16 | −10 | −8 | −2 | |
| Purchase of digital assets | −2 | — | — | — | |
| Proceeds from disposal of digital assets | 2 | — | — | — | |
| Purchase of equipment and clinical assets | −405,000 | −51,000 | — | — | |
| Purchases of short-term investments | — | −490,000 | — | — | |
| Proceeds from the sale of short-term investments | — | 498,000 | — | — | |
| Net cash flows used in investing activities | −808,000 | −43,000 | 725,000 | −183,000 | |
| Proceeds from the issuance of notes payable related parties | — | 3 | — | 179,000 | |
| Proceeds from issuance of common shares related to ATM program | 20 | 3 | — | — | |
| Exercise of warrants | — | 176,000 | — | — | |
| Repayment of notes payable | −158,000 | −776,000 | — | — | |
| Proceeds from issuance of warrants | — | 113,000 | — | — | |
| Repayment of notes payable - related parties | −425,000 | — | — | — | |
| Repayment of convertible notes payable - related parties | −927,000 | — | — | — | |
| Repayment of convertible notes payable | −661,000 | — | — | — | |
| Purchases of treasury stock | −106,000 | — | — | — | |
| Net cash flows provided by financing activities | 17 | 6 | 11 | 2 | |
| Net change in cash and cash equivalents before effect of exchange rate changes | 1 | −4 | 4 | −1,000 | |
| Effect of exchange rate changes on cash and cash equivalents | −104,000 | −16,000 | 299,000 | 1,000 | |
| Net change in cash | 955,000 | −4 | 4 | — | |
| Right of Use Asset obtained in exchange for Operating Lease Liabilities | — | 352,000 | — | — | |
| Correction of immaterial error related to franchise tax expense | — | 144,000 | — | — | |
| Issuance of Common Stock in exchange for debt extension | — | 489,000 | — | — | |
| Shares cancelled | −106,000 | — | — | — | |
| Conversion of deferred commission payable to convertible promissory note | — | 5 | — | — | |
| Cash paid for interest | — | 80,000 | 124,000 | — |
Filings
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Frequently asked questions
What is CDT Equity Inc.'s CIK number?
CDT Equity Inc.'s SEC CIK number is 0001896212 (1896212). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find CDT Equity Inc.'s SEC filings?
All of CDT Equity Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.