Company: INDP
Filing Date: 2025-02-12
Form Type: S-1
Source: 0001493152-25-006068
Chunk: 151

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-02-12
Form: S-1
Chunk 151
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       1,425 |   |
| Change in accumulated other comprehensive (loss) income                     |     | $                               |     (96,434 | ) |     | $    |      96,434 |   |
| Change in unrealized gain/loss on marketable securities                     |     | $                               |     (96,434 | ) |     | $    |      96,434 |   |
| Reclassification of security deposit                                        |     |                                 |             |   |     |      |             |   |
| Supplemental cash flow disclosures                                          |     |                                 |             |   |     |      |             |   |
| Cash paid for income taxes                                                  |     | $                               |       1,600 |   |     | $    |       2,400 |   |

<div align='center'>See accompanying notes to the consolidated financial statements and report of independent registered public accounting firm</div>

| F-6 |

<div align='center'>INDAPTUS THERAPEUTICS, INC.

Notes to Consolidated Financial Statements</div>

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, 2023, the Company incurred a net loss of approximately $ 15.4million, and as of December 31, 2023, the Company had an accumulated deficit of approximately $ 45.4million. In addition, during the year ended December 31, 2023, the Company used approximately $ 13.