Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 1329

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1A
Chunk 1329
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 sustain profitability in subsequent
periods. Our prior losses, combined with expected future losses, have had and will continue to have an adverse effect on our stockholders’
equity and working capital.

We
have identified conditions and events that raise substantial doubt regarding our ability to continue as a going concern.

We
have incurred net losses and utilized cash in operations since inception as described above. In addition, as of December 31, 2024, we
had approximately $5.8 million and during the twelve months ended December 31, 2024, we used $12.3 million of cash in operations and
expect to continue to incur significant cash outflows and incur future additional losses to execute our operating plan. We believe that
the cash and cash equivalents as of December 31, 2024 together with proceeds from our January 2025 financing, will enable us to fund
our operating expenses and capital expenditure requirements into the second quarter of 2025. We
will need to increase our capital resources through equity and/or debt financings. We may also seek to finance our cash needs through
collaborations, strategic alliances, or license agreements with third parties and/or debt or equity financings. If sources of financing
are available, they may result in substantial dilution to our stockholders. We cannot provide any assurance that new financing will be
available to us on commercially acceptable terms or in the amounts required, if at all. Due to the uncertainty in securing additional
funding, and as existing cash resources are not sufficient to fund planned operations for at least 12 months from the date of this Annual
Report, we have concluded that substantial doubt exists about our ability to continue as a going concern. If we are unsuccessful in securing
sufficient financing, we may need to delay, reduce, or eliminate our research and development programs, which could adversely affect
our business prospects, or cease operations.

26

Our
audited consolidated financial statements included in this Annual Report have been prepared on a going concern basis under which an entity
is able to realize its assets and satisfy its liabilities in the ordinary course of business. The audited consolidated financial statements
do not give effect to any adjustments relating to the carrying values and classification of assets and liabilities that would be necessary
should we be unable to continue as a going concern within one year after the date that the financial statements are issued.

Our
future operations are dependent upon the successful entry into collaborations, strategic alliances, or license agreements with third
parties and