Company: INDP
Filing Date: 2025-02-12
Form Type: S-1
Source: 0001493152-25-006068
Chunk: 70

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-02-12
Form: S-1
Chunk 70
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     | $                  | (3,069,036 | ) |     | $    | (3,922,388 | ) |     | $      |    853,352 |   |     |   | (22 | )% |
| Net loss attributable to common stockholders per share, basic and diluted                   |     | $                  |      (0.32 | ) |     | $    |      (0.47 | ) |     |        |            |   |     |   |     |    |
| Weighted average number of shares used in calculating net loss per share, basic and diluted |     |                    |  9,510,447 |   |     |      |  8,401,047 |   |     |        |            |   |     |   |     |    |

| 51 |

Research and Development Expenses

During the three months ended September 30, 2024, our research and development expenses were approximately $1.5 million, which represented a decrease of approximately $0.7 million, or approximately 34%, compared to approximately $2.2 million for the three months ended September 30, 2023. This decrease was attributable primarily to the development of our manufacturing processes of Decoy20 that were conducted in the three months ended September 30, 2023. We expect our research and development expenses to increase for the remainder of the year as our Phase 1 clinical trial progresses.

General and Administrative Expenses

Our general and administrative expenses for the three months ended September 30, 2024 amounted to approximately $1.7 million, a decrease of approximately $0.3 million, or approximately 17%, compared to approximately $2.0 million for the three months ended September 30, 2023. This decrease was attributable primarily to stock-based compensation, legal fees and recruitment costs.

Other Income, Net

During the three months ended September 30, 2024, our other income, net was approximately $0.1 million, which represented a decrease of approximately $0.2 million as compared to the three months ended September 30, 2023. The other income generated in the period consists primarily of income earned on the Company’s cash and cash equivalent accounts, the balances of which were lower during the three months ended September 30, 2024 compared to the three months ended September 30, 2023.

Nine months ended September 30, 2024 compared to nine months ended September