Company: INDP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021759
Chunk: 29

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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    $(2.98) 
    $(9.04) 
    $6.06  
     (67.0)%
  
    Weighted average number
    of shares used in calculating net loss per share, basic and diluted 
     997,038  
     339,659  

Research
and Development Expenses

Research
and development expenses were approximately $1.52 million for the three months ended September 30, 2025, compared to approximately $1.47
million for the three months ended September 30, 2024, representing an increase of approximately $50,000, or 3.5%. The change
was primarily driven by higher clinical trial costs of approximately $0.35 million related to our ongoing Phase 1 study. This increase
was partially offset by a decrease of approximately $0.3 million in payroll and related expenses and stock-based compensation.

4

General
and Administrative Expenses

General
and administrative expenses were approximately $1.1 million for the three months ended September 30, 2025, compared to approximately
$1.7 million for the three months ended September 30, 2024, representing a decrease of approximately $0.6 million, or 32.5%. The decrease
was primarily attributable to a reduction of approximately $0.7 million in stock-based compensation, payroll and related expenses, board
of directors fees, investor relations costs and directors and officers insurance policy. This decrease was partially offset by an increase
of approximately $0.1 million in professional fees.

Other
Income, Net

During
the three months ended September 30, 2025, our other income, net was approximately $0.04 million, which represented a decrease of approximately
$0.03 million, or approximately 46.5%, compared to approximately $0.07 million for the three months ended September 30, 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 September 30, 2025 compared to the three months ended September 30, 2024.

Nine
months ended September 30, 2025 compared to nine months ended September 30, 2024

The
following tables set forth our results of operations for the nine months ended September 30, 2025 and 2024 and the relative dollar change
between the two periods.