8. Collaborations

NIH/NIAID award

On October 27, 2025, the Company issued a press release announcing it has received a $500,000 Small Business Innovation Research (“SBIR”) Phase I award from the National Institutes of Health (“NIH”) and the National Institute of Allergy and Infectious Diseases (NIAID). The NIH/NIAID Phase I award is designed to assess the scientific, technical and commercial potential of early-stage programs and will support the Company’s development of a novel, oral, broad-spectrum antiviral candidate for the treatment of influenza A and B infections.

Phase 1b Clinical Trial

On June 9, 2025 the Company engaged Emory University, a nonprofit research institution of higher education, to conduct a Phase 1b human challenge study evaluating CDI-988 for norovirus prevention and treatment. The cost of the agreement including protocol development, study performance and virology is budgeted at approximately $3 million.

The Company has expensed $564,000 during the 2025 year, which includes $521,000 in accrued expense at December 31, 2025.

Phase 2a Clinical Trial

On August 3, 2022 the Company engaged hVIVO, a subsidiary of London-based Open Orphan plc (AIM: ORPH), a rapidly growing specialist contract research organization (“CRO”), to conduct a Phase 2a clinical trial with the Company’s novel, broad-spectrum, orally administered antiviral influenza candidate. The Company prepaid a reservation fee of $1.7 million upon execution of the agreement and the reservation fee been fully expensed as of December 31, 2024, leaving no balance in prepaid and other expenses as of the prior year then ended.

The total cost of the agreement (including the reservation fee) is approximately $6.9 million.

Following an internal review and consultation, the Company is not in agreement with hVIVO Phase 2a clinical trial practices and is in discussions to resolve the matter.