aibioCDT Equity gets Nasdaq notice over late first-quarter 10-Q
Tickers CDT
The company did not file its quarterly report for the period ended March 31, 2026 on time, and it has until July 20, 2026 to submit a plan to regain compliance.
Key facts
- Company
- CDT Equity Inc. (NASDAQ: CDT)
- News type
- Listings
- Primary source
- CDT Equity Inc. 8-K (2026-05-28)
CDT Equity Inc. (Nasdaq: CDT) said on May 28, 2026 that it had received a written notice from the Nasdaq Listing Qualifications Department on May 21, 2026. The notice said the company did not timely file its Quarterly Report on Form 10-Q for the three-month period ended March 31, 2026. Nasdaq said the filing was required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5250(c)(1). The company announced the notice in a press release furnished with a Form 8-K dated May 28, 2026.
The notice
The notice cites the periodic filing requirement, which the company had not met for the quarter. The company said the notice does not have an immediate effect on the listing or trading of its securities. Under Nasdaq rules, the company has until July 20, 2026 to submit a plan to regain compliance with the periodic filing requirement.
The company said it anticipates filing the 10-Q as soon as the review process of the current draft is complete. It said that filing would regain compliance with the requirement. The release does not say when the review is expected to finish.
The company
CDT Equity Inc., originally established as Conduit Pharmaceuticals, describes itself as a data-driven biopharmaceutical development company focused on identifying, enhancing and advancing high-potential therapeutic assets. It says it uses artificial intelligence, solid-form chemistry and efficient asset repositioning to accelerate the development of novel treatments.
The company's annual report describes a strategy centered on clinical-stage compounds that larger pharmaceutical companies have deprioritized, with strong supporting Phase I safety data. It says it intends to seek an exit through third-party license deals after successful in vitro and in vivo pre-clinical trials. The pipeline is described as including candidates for autoimmune disorders, idiopathic male infertility, dermatology and animal health.
The annual report also says that, in partnership with Sarborg Limited, the company applies AI-powered signature analysis to identify new therapeutic applications for existing compounds.
The annual report describes CDT Equity Inc. as a Delaware corporation, formerly Conduit Pharmaceuticals Inc. The forward-looking statements in the notice release refer to a business combination completed in September 2023 and say its anticipated benefits may be affected by competition and other factors.
Financial position
The XBRL data in the company's annual report, filed April 15, 2026, show research and development expense of $5.1 million for the year ended December 31, 2025, up from $3.4 million for 2024. The net loss was $39.2 million for 2025, compared with $17.8 million for 2024. Cash from operations was negative $15.6 million for 2025, compared with negative $9.7 million for 2024.
Year-end cash and cash equivalents were $554,000 for 2024, and the XBRL data also show short-term investments of $600,000 at the end of 2024.
The risks ahead
CDT has to file the missing 10-Q, which the company says will regain compliance, and it gave no date because the review of the draft is not finished. The company has until July 20, 2026 to submit a plan to regain compliance. Its forward-looking statements say the notice may have an effect on its securities and that the ability to maintain the Nasdaq listing is uncertain. The weak spot is the balance sheet. Negative cash from operations was $15.6 million and the net loss was $39.2 million for 2025, set against year-end 2024 cash and cash equivalents of $554,000. The sources available at the announcement date give no year-end 2025 cash balance. CDT gives no assurance that it will achieve its expectations.