Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 114

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1
Chunk 114
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    Transaction costs in accounts payable and other current liabilities 
    $163,333  
    $-  
  
    Change in accumulated other comprehensive income 
    $-  
    $(96,434)

    Supplemental cash flow disclosures 

    Cash paid for income taxes 
    $1,600  
    $1,600 

See
accompanying notes to the consolidated financial statements and report of independent registered public accounting firm

F-6

INDAPTUS
THERAPEUTICS, INC.

Notes
to Consolidated Financial Statements

NOTE
1: GENERAL

Indaptus
Therapeutics, Inc. and its wholly-owned subsidiaries, Decoy Biosystems, Inc. and Intec Pharma Ltd., collectively (the “Company”),
is a biotechnology company dedicated to enhancing and expanding curative cancer immunotherapy for patients with unresectable or metastatic
solid tumors and lymphomas, which are responsible for more than 90% of all cancer deaths. The Company is developing a novel, multi-targeted
product that activates both innate and adaptive anti-tumor and anti-viral immune responses.

Risks
and uncertainties

The
Company is subject to a number of risks similar to those of other companies of similar size in its industry, including, but not limited
to, the need for successful development of products, the need for additional capital (or financing) to fund operations (see below), competition
from substitute products and services from larger companies, protection of proprietary technology, patent litigation, and dependence
on key individuals.

Going
concern and management’s plans

The
Company has incurred net losses and utilized cash in operations since inception. For the year ended December 31, 2024, the Company incurred
a net loss of approximately $15.0 million, and as of December 31, 2024, the Company had an accumulated deficit of approximately $60.4
million. In addition, during the year ended December 31, 2024, the Company used approximately $12.3 million of cash in operations and
expects to continue to incur significant cash outflows and incur future additional losses as clinical trials and commercialization of
the Company’s product candidates will require significant additional financing. The Company believes that, as of the date of the
issuance of these consolidated financial statements, it has adequate cash to fund its ongoing activities into the second quarter of
2025 based on its current operating plan. The Company plans to execute its operating plan by