Company: INDP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023333
Chunk: 80

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 80
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 At The Market Offering Agreement (the “ATM Agreement”) which was amended on September 1, 2022
with H.C. Wainwright & Co., LLC, as sales agent (“Wainwright”), pursuant to which we may offer and sell, from time to
time through Wainwright, shares of our common stock, par value $0.01 per share, for aggregate gross proceeds of up to $3.7 million. The
issuance and sale of common stock by us under the ATM Agreement is being made pursuant to our effective “shelf” registration
statement on Form S-3 filed with the SEC on September 1, 2022 and declared effective on September 9, 2022. In 2024, we sold 5,428 shares
of our common stock for aggregate gross proceeds of approximately $0.4 million. On August 6, 2024, we filed a prospectus supplement to
reduce the amount of shares registered under the prospectus for the ATM to $0.00 and to suspend the ATM program, but the ATM Agreement
remains in full force and effect.

We
believe that our cash and cash equivalents of approximately $6.2 million that we had as of June 30, 2025 will enable us to fund our
operating expenses and capital expenditure requirements into the fourth quarter of 2025 based on our current operating plan. We will
need to increase our capital resources through equity or debt financings, and we may need to do so sooner than we expect. We may
also seek to finance our cash needs through collaborations, strategic alliances, or license agreements with third parties. 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. If we are unable
to consummate a financing or other transaction, we may need to delay, reduce, or eliminate our research and development programs,
which could adversely affect our business prospects, or cease operations. These conditions raise substantial doubt regarding our
ability to continue as a going concern within one year after the date of the filing of this Quarterly Report. For additional
information, see Note 1 to our unaudited condensed consolidated financial statements included elsewhere in this Quarterly Report. We
have based this estimate on assumptions that may prove to be wrong, and we could use our capital resources sooner than we currently