Company: INDP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010099
Chunk: 46

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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, 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 $20.0
million of our common stock during a 36-month period, subject to the restrictions and satisfaction of the conditions in the SEPA. Upon
execution of the SEPA, we issued to Yorkville 305,960 commitment shares. During March 2025, we sold 1,605,200 shares of our common stock
under the SEPA for aggregate SEPA for aggregate net proceeds of approximately $1.15 million, after deducting offering expenses in the
amount of approximately $0.1 million.

In
January 2025, we completed a private placement for the sale and issuance by us of an aggregate of: (i) 2,109,383 shares of our common
stock and (ii) warrants to purchase 2,109,383 shares of common stock. The shares and warrants were sold on a combined basis for consideration
of $1.065 for one share and a warrant for aggregate gross proceeds of approximately $2.25 million.

In
November 2024, we completed a registered direct offering, pursuant to which we sold and issued to certain investors 1,817,017 shares
of our common stock in a registered direct offering. In addition, in a concurrent private placement, we issued to the investors unregistered
warrants to purchase 1,817,017 shares of common. The combined purchase price for one share of common stock and one warrant was $1.175,
resulting in gross proceeds of approximately $2.135 million.

In
August 2024, we completed a registered direct offering