Company: INDP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010099
Chunk: 30

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 plan by
obtaining additional capital, principally through entering into collaborations, strategic alliances, or license agreements with
third parties and/or additional public or private debt and equity financing. In February 2025, the Company entered into a Standby
Equity Purchase Agreement pursuant to which the Company has the right, but not the obligation, to sell up to $20.0
million of the Company’s common stock during a 36-month period, subject to the restrictions and satisfaction of the conditions
in the Standby Equity Purchase Agreement. For more details, see Note 6(c). However, there is no assurance that additional
capital and/or financing will be available to the Company, and even if available, whether it will be on terms acceptable to the
Company or in the amounts required. If the Company is unsuccessful in securing sufficient financing, it may need to delay, reduce,
or eliminate its research and development programs, which could adversely affect its business prospects, or cease operations.

As a result of these uncertainties, there is
substantial doubt about the Company’s ability to continue as a going concern. The unaudited condensed consolidated financial
statements do not include any adjustments to the carrying amounts and classifications of assets and liabilities that would result if
the Company was unable to continue as a going concern.

NOTE 2: SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The unaudited interim condensed consolidated financial
statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America
(“US GAAP”) and SEC Regulation S-X Article 10 for interim financial statements. Accordingly, they do not contain all the information
and notes required by US GAAP for annual financial statements. In the opinion of management, these unaudited condensed consolidated interim
financial statements reflect all adjustments, which include normal recurring adjustments, necessary for a fair statement of the Company’s
consolidated financial position as of March 31, 2025, and the consolidated results of operations and changes in stockholders’ equity
for the three-month periods ended March 31, 2025 and 2024 and cash flows for the three-month periods ended March 31, 2025 and 2024.

    F-5

These unaudited interim condensed consolidated financial
statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s
Annual Report on Form 10-K for the fiscal year ended December 31, 2024