Company: INDP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023333
Chunk: 21

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 21
---
,071) 
     (83.4)%
  
    Change in fair value of convertible promissory notes 
     (787,703) 
     -  
     (787,703) 
     - 

    Net loss 
    $(5,228,919) 
    $(4,015,267) 
    $(1,213,652) 
     30.2%
  
    Net loss attributable to common stockholders per share, basic and diluted 
    $(9.09) 
    $(13.16) 
    $4.07  
     (30.9)%
  
    Weighted average number of shares used in calculating net loss per share, basic and diluted 
     574,923  
     305,140  

Research
and Development Expenses

Research
and development expenses were approximately $2.2 million for the three months ended June 30, 2025, compared to approximately $1.7 million
for the three months ended June 30, 2024, representing an increase of approximately $0.5 million, or 26.4%. The increase was primarily
driven by higher clinical trial costs of approximately $0.8 million related to our ongoing Phase 1 study. This increase was partially
offset by a decrease of approximately $0.3 million in payroll and related expenses.

General
and Administrative Expenses

General
and administrative expenses were approximately $2.3 million for the three months ended June 30, 2025, compared to approximately $2.4
million for the three months ended June 30, 2024, representing a decrease of approximately $0.1 million, or 4.4%. The decrease was
primarily attributable to a reduction of approximately $0.9 million in stock-based compensation, payroll and related expenses, legal
fees, and investor relations costs. This decrease was partially offset by an increase of approximately $0.8 million in
transaction-related expenses associated with the private placement of convertible notes and warrants completed in June
2025.

Other
Income, Net

During the three months ended June 30, 2025, our other income, net was approximately $0.015 million, which represented a decrease of approximately
$0.078 million, or approximately 83.4%, compared to approximately $0.093 million for the three months ended June 30, 2024. The other income
generated in the period