Company: INDP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021759
Chunk: 34

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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5 was approximately $11.7
million, which was provided by the issuance and sale of our common stock and warrants in the January
2025 Financing, the issuance and sale of our common stock under the SEPA, the issuance of convertible notes and warrants in the June
2025 Financing and issuance and sale of our common stock under the ATM Agreement. Net cash
provided by financing activities for the nine months ended September 30, 2024 was approximately
$2.9 million, which was provided by issuance and sale of our common stock under the ATM Agreement and issuance and sale of our
common stock and warrants in a registered direct offering and concurrent private placement that we completed in August 2024.

Funding
Requirements

Our
operating expenses are expected to continue to increase in the future in connection with our ongoing activities, particularly as we expect
to continue to ramp up our clinical development activities and incur expenses associated with hiring additional personnel to support
our research and development efforts. In addition, if we obtain marketing approval for any of our product candidates, we expect to incur
significant commercialization expenses related to product sales, marketing, manufacturing and distribution. Furthermore, we expect to
continue to incur significant costs associated with operating as a public company.

We
believe that our existing cash and cash equivalents as of September 30, 2025 are adequate to fund our ongoing activities into the first
quarter of 2026 based on our current operating plan. In addition, in May 2025, we began implementing a cost-reduction plan that included
a focus on the Combination Study, the elimination of non-essential expenses, and accepted a voluntary temporary reduction of the base
salaries of certain officers and temporary elimination of board fees. The temporary reduction of base salaries and board fees was discontinued
effective November 1, 2025.

Our
future capital requirements will depend on many factors, including, but not limited to:

    ●
    the
    scope, progress, results and costs of preclinical studies and clinical trials;

    ●
    the
    scope, prioritization and number of our clinical trials and other research and development programs;

    ●
    the
    amount of revenues we receive under future licensing, collaboration, development and commercialization arrangements with respect
    to our product candidates;

7

    ●
    the
    impact of any pandemic, epidemic or other future health crisis on our business and operations;

    ●
    the