Company: INDP
Filing Date: 2025-02-12
Form Type: S-1
Source: 0001493152-25-006068
Chunk: 71

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-02-12
Form: S-1
Chunk 71
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       (1.23 | ) |     | $    |       (1.36 | ) |     |        |            |   |     |   |     |    |
| Weighted average number of shares used in calculating net loss per share, basic and diluted |     |                   |   8,832,630 |   |     |      |   8,401,047 |   |     |        |            |   |     |   |     |    |

| 52 |

Research and Development Expenses

During the nine months ended September 30, 2024, our research and development expenses were approximately $4.8 million, which represented a decrease of approximately $0.8 million, or approximately 15%, compared to approximately $5.6 million for the nine months ended September 30, 2023. This decrease was attributable primarily to a decrease of approximately $1.1 million in the development of our manufacturing processes of Decoy20 that were conducted in 2023 and was offset by an increase of approximately $0.3 million in our Phase 1 clinical trial and in payroll and related expenses. 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 expensesfor the nine months ended September 30, 2024 amounted to approximately $6.4 million, a decrease of approximately $0.2 million, or approximately 3%, compared to approximately $6.6 million for the nine months ended September 30, 2023. This decrease was attributable primarily to a decrease of approximately $0.7 million in legal fees, payroll and related expenses, recruitment costs and directors’ and officers’ insurance expenses, and was offset by an increase of approximately $0.5 million in investor relations and business development expenses.

Other Income, Net

During the nine months endedSeptember 30, 2024, our other income, net was approximately $0.3 million, which represented a decrease of approximately $0.5 million as compared to the nine months endedSeptember 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 nine months ended September 30, 2024 compared to the nine months ended September 30, 2023.

Liquidity and Resources

We do not currently have any approved products and have never generated any revenue from