Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 1328

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1A
Chunk 1328
---
You
should carefully consider the factors described below, together with all of the other information contained in this Annual Report, including
the audited consolidated financial statements and the related notes included in this Annual Report beginning on page F-1, before deciding
whether to invest in our common stock. If any of the risks discussed below actually occur, our business, financial condition, operating
results and cash flows could be materially adversely affected. This could cause the trading price of our common stock to decline, and
you may lose all or part of your investment.

Risks
Related to Our Financial Position and Capital Requirements

We
are a clinical-stage company with a limited operating history. We are not currently profitable, do not expect to become profitable in
the near future and may never become profitable.

We
are a clinical-stage biotechnology company focused primarily on developing a novel and patented systemically-administered anti-cancer
and anti-viral immunotherapy. All of our product candidates are in the preclinical or early clinical development stage, and none of our
product candidates have been approved for marketing or are being marketed or commercialized.

As
a result, we have no meaningful historical operations upon which to evaluate our business and prospects and have not yet demonstrated
an ability to obtain marketing approval for any of our product candidates or successfully overcome the risks and uncertainties frequently
encountered by companies in the biopharmaceutical industry. As a result, we have not been profitable and have incurred significant operating
losses in every reporting period since our inception. For the year ended December 31, 2024, we reported a net loss of approximately $15.0
million and as of December 31, 2024, we had an accumulated deficit of approximately $60.4 million.

For
the foreseeable future, we expect to continue to incur losses, which will increase significantly from historical levels as we expand
our development activities, seek regulatory approvals for our product candidates, and begin to commercialize them if they are approved
by the FDA, the European Medicines Agency, or the EMA, or comparable foreign authorities. Further, the net losses we incur may fluctuate
significantly from quarter-to-quarter and year-to-year, such that a period-to-period comparison of our results of operations may not
be a good indication of our future performance. Even if we succeed in developing and commercializing one or more product candidates,
we may never become profitable, or even if we achieve profitability in the future, we may not be able to