Former Bitcoin treasury
CDT Equity Inc. no longer pursues a Bitcoin treasury strategy. The holdings, debt, and metrics below reflect the last recorded data (Dec 31, 2025) and are no longer being updated.
₿$73,459.79▼ 0.12%
CDT Equity Inc.
CDT🇺🇸Former
CDT Equity Inc. (formerly Conduit Pharmaceuticals Inc.) is a clinical-stage specialty biopharmaceutical company based in Naples, Florida. The company adopted a cryptocurrency treasury reserve strategy in September 2025, purchasing BTC with existing cash reserves.
BTC Holdings
0 BTC
Insufficient history
Stock PriceUpdated 11h ago
$1.04▲ 9.46%
180d
Total financing
6.06M USD
180d
mNAV
—
180d
Leverage
—
180d
Sats/Share
0
180d
Mkt cap
5.05M USD
Shares
4.86M
Fiat reserve
1.51M USD
Total reserve
1.51M USD
Dilution
0.0%
Coverage
0.0 yr
BTC mix
0%
Analytics
FinancialsUnverified
US GAAPAnnualAs of 2025-12-31
Balance Sheet
Total Assets$5.7M▲34.7%
Total Liabilities$12.8M▲16.7%
Stockholders' Equity$-7.2M▼5.5%
Cash & Equivalents$1.5M▲172.4%
Total Debt—
Digital Assets—
Income Statement
Revenue—
Operating Income$-36.8M
Net Income$-39.2M
Interest Expense$200K
Cash Flow
Operating Cash Flow$-15.6M
Instruments
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price |
|---|---|---|---|---|---|
| CDT-AGP | Nov '24 – Dec '99 | 0% | 5.70M USD | 5.50M USD | — |
| CDT-Jul26 | Mar '26 – Jul '26 | 10% | 555.56K USD | 555.56K USD | — |
| Total | 6.06M USD | ||||
Recent Changes
Wed, Apr 15, 2026
Shares Outstanding
4.7M→4.9M+136.0K(+2.9%)
Form 10-K (2025)
Fri, Mar 27, 2026
Shares Outstanding
176.8K→4.7M+4.5M(+2570.5%)
Post 1:25 reverse split effective Mar 26, 2026; ~4,722,450 post-split shares
Form 8-K (1-for-25 reverse stock split)Tue, Mar 3, 2026
Debt OutstandingIssuanceCDT-Jul26
555.6K
Form 8-K (Senior Secured Convertible Note)
Wed, Feb 25, 2026
Shares Outstanding
51.1K→176.8K+125.8K(+246.3%)
Adjusted for 1:25 split Mar 2026 (pre-adjustment: 4,420,963)
DEF 14A (Special Meeting March 2026)Wed, Dec 31, 2025
BTC Holdings
17.906→0-17.906 BTC(-100.0%)
Disposed of all digital asset holdings during Q4 2025; realized loss on dispositions of $403k
Form 10-K (2025)Fiat Reserve
3.8M→1.5M-2.3M(-60.7%)USD
Form 10-K (2025)