Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 569

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 3
Chunk 569
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Income

During
the year ended December 31, 2024, our other income, net was approximately $0.3 million, which represented a decrease of approximately
$0.6 million, or approximately 64.0%, as compared to the year ended December 31, 2023. The other income generated in the period consists
primarily of income earned on the Company’s cash and cash equivalent accounts, the balances of which were lower during the year
ended December 31, 2024 compared to the year ended December 31, 2023.

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
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.

66

In
August 2024, we completed a registered direct offering, pursuant to which we sold and issued to certain investors, 1,643,837 shares of
common stock. In addition, in a concurrent private placement, we issued to the investors unregistered warrants to purchase 1,643,837
shares of common stock. The combined purchase price for one share of common stock and one warrant was $1.825, resulting in gross proceeds
of approximately $3.0 million.

In
June 2022, we entered into an At The Market Offering Agreement (the “ATM Agreement”) which was amended on September 1, 2022
with H.C. Wainwright & Co., LLC, as