Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 570

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 3
Chunk 570
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 sales agent (“Wainwright”), pursuant to which we may offer and sell, from time to
time through Wainwright, shares of our common stock, par value $0.01 per share, for aggregate gross proceeds of up to $3.7 million. The
issuance and sale of common stock by us under the ATM Agreement is being made pursuant to our effective “shelf” registration
statement on Form S-3 filed with the SEC on September 1, 2022 and declared effective on September 9, 2022. In 2024, we sold 152,000 shares
of our common stock for aggregate gross proceeds of approximately $0.4 million. On August 6, 2024, we filed a prospectus supplement to
reduce the amount of shares registered under the prospectus for the ATM to $0.00 and to suspend the ATM program, but the ATM Agreement
remains in full force and effect.

In
February 2025, we entered into a SEPA with Yorkville pursuant to which we have the right, but not
the obligation, to sell up to $20.0 million of our common stock during a 36 month period, subject to the restrictions and satisfaction
of the conditions in the SEPA. Upon execution of the SEPA, we issued to Yorkville 305,960 commitment shares. No shares of common
stock have been sold under the SEPA.

We
believe that the cash and cash equivalents of approximately $5.8 million that we had as of December 31, 2024 together
with net proceeds of $2.0 million from our January 2025 financing, will enable us to fund our operating expenses and capital expenditure
requirements into the second quarter of 2025. We will need to increase our capital resources through equity or debt financings, and
we may need to do so sooner than we expect. We may also seek to finance our cash needs through collaborations, strategic alliances, or
license agreements with third parties. If sources of financing are available, they may result in substantial dilution to our stockholders.
We cannot provide any assurance that new financing will be available to us on commercially acceptable terms or in the amounts required,
if at all. If we are unable to consummate a financing or other transaction, we may need to delay, reduce, or eliminate our research and
development programs, which could adversely affect our business prospects, or cease operations. These conditions raise substantial doubt
regarding our