Company: INDP
Filing Date: 2025-02-12
Form Type: S-1
Source: 0001493152-25-006068
Chunk: 69

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-02-12
Form: S-1
Chunk 69
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 Net loss                                                                                    |     | $                       | (15,423,471 | ) |     | $ | (14,322,798 | ) |     | $                     | (1,100,673 | ) |     |     |  8 | % |
| Net loss attributable to common stockholders per share, basic and diluted                   |     | $                       |       (1.83 | ) |     | $ |       (1.73 | ) |     | $                     |      (0.10 | ) |     |     |  6 | % |
| Weighted average number of shares used in calculating net loss per share, basic and diluted |     |                         |   8,401,047 |   |     |   |   8,262,119 |   |     |                       |            |   |     |     |    |   |

Research and Development Expenses

Our research and development expenses for the year ended December 31, 2023 amounted to approximately $7.6 million, an increase of approximately $1.3 million, or approximately 21%, compared with approximately $6.3 million for the year ended December 31, 2022. This increase was attributable primarily to (i) an increase of approximately $0.4 million for payroll and related expenses including approximately $0.1 million of stock-based compensation, and (ii) an increase of approximately $0.9 million for the Phase 1 clinical trial and activities related to the expansion of our pipeline.

General and Administrative Expenses

Our general and administrative expenses for the year ended December 31, 2023 amounted to approximately $8.8 million, an increase of approximately $0.2 million, or approximately 2%, compared with approximately $8.6 million for the year ended December 31, 2022. This increase was attributable primarily to an increase of approximately $0.6 million for legal fees, recruitment costs, investor relations expenses and other professional fees, and was partially offset by a decrease of approximately $0.4 million for payroll and related expenses and for directors’ and officers’ insurance expenses.

Other Income

Our other income, net, for the year ended December 31, 2023 amounted to approximately $1.0 million, an increase of approximately $0.4 million, or approximately 62%, compared to approximately $0.6 million for the year ended December 31, 2022. This increase was attributable primarily to an increase of approximately $0