Company: INDP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010099
Chunk: 61

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 61
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%
  
    Net loss attributable
    to common stockholders per share, basic and diluted 
    $(0.32) 
    $(0.45) 
    $0.13  
     (28.9)%
  
    Weighted average number
    of shares used in calculating net loss per share, basic and diluted 
     14,102,378  
     8,442,364  

3

Research
and Development Expenses

Our
research and development expenses for the three months ended March 31, 2025 amounted to approximately $2.8 million, an increase of approximately
$1.2 million, or approximately 76.7%, compared to approximately $1.6 million for the three months ended March 31, 2024. This increase
was attributable primarily to an increase of approximately $1.5 million in costs associated with our Phase 1 clinical trial and
was offset by a decrease of approximately $0.3 million in payroll and related expenses.

General
and Administrative Expenses

Our
general and administrative expenses for the three months ended March 31, 2025 amounted to
approximately $1.8 million, a decrease of approximately $0.6 million, or approximately 25.1%, compared to approximately $2.4 million
for the three months ended March 31, 2024. This decrease was attributable primarily to a decrease
in payroll and related expenses and in legal fees.

Other
Income, Net

During
the three months ended March 31, 2025, our other income, net was approximately $0.04
million, which represented a decrease of approximately $0.1 million, or approximately 70.6%, compared to approximately
$0.14 million for the three months ended March 31, 2024. The other income generated in the period consists primarily of income
earned on our cash and cash equivalent accounts, the balances of which were lower during the three months ended March 31, 2025 compared
to the three months ended March 31, 2024.

Liquidity
and Resources

We
do not currently have any approved products and have never generated any revenue from product sales. Since our inception, we have funded
our operations primarily through public and private offerings of our equity securities.

In February 2025, we entered into a SEPA with Yorkville pursuant to which we have the right, but not the obligation, to sell up to $20.