Company: INDP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021759
Chunk: 63

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 63
---
736,466
    )
     
    $
    (10,890,980
    )
     
    $
    (1,845,486
    )

    16.9
    %
  
    Net
    loss attributable to common stockholders per share, basic and diluted
     
    $
    (18.48
    )
     
    $
    (34.53
    )
     
    $
    16.05

    (46.5
    )%
  
    Weighted
    average number of shares used in calculating net loss per share, basic and diluted

    689,174

    315,451

Research
and Development Expenses

Research
and development expenses were approximately $6.5 million for the nine months ended September 30, 2025, compared to approximately
$4.8 million for the nine months ended September 30, 2024, representing an increase of approximately $1.7 million, or 36.1%. The
increase was primarily driven by higher clinical trial costs of approximately $2.6 million related to our ongoing Phase 1 study.
This increase was partially offset by a decrease of approximately $0.9 million in payroll and related expenses and stock-based
compensation.

5

General
and Administrative Expenses

General
and administrative expenses were approximately $5.2 million for the nine months ended September 30, 2025, compared to approximately
$6.4 million for the nine months ended September 30, 2024, representing a decrease of approximately $1.2 million, or 19.3%. The
decrease was primarily attributable to a reduction of approximately $2.1 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 $0.9 million in transaction-related expenses associated with the private placement of
convertible notes and warrants completed in June 2025 and professional fees.

Other
Income, Net

During
the nine months ended September 30, 2025, our other income, net was approximately $0.1 million, which represented a decrease of approximately
$0.2 million, or approximately 68.7%, compared to approximately $0.3 million for the nine months ended September 30, 2024. The other
income generated in the period consists primarily of income earned on our cash and cash equivalent accounts