---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-014883"
form_type: "8-K"
ticker: "CDT"
cik: "0001896212"
company_name: "CDT Equity Inc."
filed_at: "2024-04-16T23:59:59+00:00"
generated_at: "2026-06-03T22:25:11.163596+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Conduit Pharmaceuticals restates 2023 quarterly results on legal expense miscapitalization; non-reliance

## Summary
- Previously issued unaudited financials for Q1, Q2, Q3 2023 should no longer be relied upon due to misclassification of legal expenses.
- Legal expenses related to business combination and PIPE financing were expensed but should have been capitalized, reducing quarterly expenses by $493k, $402k, $639k respectively.
- Restatement adjustments understated net income (loss), understated prepaid expenses, and overstated additional paid-in capital; deemed material individually and in aggregate.
- Company will incorporate the corrections in footnotes of its upcoming 10-K annual report; discussed with auditor Marcum LLP.
- Marcum LLP has provided a letter agreeing with the statements in this 8-K, attached as Exhibit 7.1.

## SEC filing metadata
- accession: 0001493152-24-014883
- form_type: 8-K
- ticker: CDT
- cik: 0001896212
- company_name: CDT Equity Inc.
- filed_at: 2024-04-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1896212/000149315224014883/0001493152-24-014883-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1896212/000149315224014883/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-014883
- JSON: https://secwatch.observer/filing/0001493152-24-014883.json
- Plain text: https://secwatch.observer/filing/0001493152-24-014883.txt

## Key facts
- Auditor Changes
  CDT Equity Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: Marcum LLP
  source text: the Company’s previously issued unaudited financial statements, and notes related thereto, for the Subject Periods (as defined below) should no longer be relied upon due to the advised restatements described below pertaining to the accounting treatment of certain legal expenses previously incurred.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1896212/000149315224014883/0001493152-24-014883-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.