Company: INDP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021759
Chunk: 64

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 64
---
, the balances of which were
lower during the nine months ended September 30, 2025 compared to the nine months ended September 30, 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
June 2025, we completed a private placement (the “June 2025 Financing”) of convertible notes to certain investors, including
our Chief Executive Officer, which automatically converted in July 2025 into 501,566 shares of our common stock and pre-funded warrants
to purchase 190,795 shares of our common stock at a conversion price of $8.302 per share. In connection with the offering, we also issued
to the investors warrants to purchase 1,384,722 shares of our common stock, exercisable at $8.302 per share and expiring on July 27,
2030. The total gross proceeds were approximately $5.7 million and placement agent fees and other offering expenses were approximately
$0.8 million As of the date hereof, pre-funded warrants have been exercised into an aggregate of 124,634 shares of common stock.

In
February 2025, we entered into a Standby Equity Purchase Agreement (the “SEPA”) with
YA II PN, LTD., a Cayman Islands exempt limited company (“Yorkville”), pursuant to which we have the right, but not the obligation, to sell up to $20.0
million of our common stock during a 36 months period, subject to the restrictions and satisfaction of the conditions in the SEPA. Upon
execution of the SEPA, we issued to Yorkville 10,927 commitment shares. During the first nine months of 2025, we sold 89,902 shares of
common stock under the SEPA for aggregate net proceeds of approximately $1.75 million, after deducting offering expenses in the amount
of approximately $0.1 million.

In
January 2025, we completed a private placement (the “January 2025 Financing”) for the sale and issuance by us of an aggregate
of: (i) 75,335 shares of our common stock and (ii) warrants to purchase 75,335 shares of common stock. The shares and warrants were sold
on a combined basis for consideration of $29.82 for one share and