Company: INDP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021759
Chunk: 61

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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5)%

    Total operating expenses 
     2,648,487  
     3,142,057  
     (493,570) 
     (15.7)%

    Loss from operations 
     (2,648,487) 
     (3,142,057) 
     493,570  
     (15.7)%

    Other income, net 
     39,088  
     73,021  
     (33,933) 
     (46.5)%
  
    Change in fair value of
    convertible promissory notes 
     (365,718) 
     -  
     (365,718) 
     100%

    Net loss 
    $(2,975,117) 
    $(3,069,036) 
    $93,919 
     3.1%
  
    Net loss attributable
    to common stockholders per share, basic and diluted 
    $(2.98) 
    $(9.04) 
    $6.06  
     (67.0)%
  
    Weighted average number
    of shares used in calculating net loss per share, basic and diluted 
     997,038  
     339,659  

Research
and Development Expenses

Research
and development expenses were approximately $1.52 million for the three months ended September 30, 2025, compared to approximately $1.47
million for the three months ended September 30, 2024, representing an increase of approximately $50,000, or 3.5%. The change
was primarily driven by higher clinical trial costs of approximately $0.35 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 and stock-based compensation.

4

General
and Administrative Expenses

General
and administrative expenses were approximately $1.1 million for the three months ended September 30, 2025, compared to approximately
$1.7 million for the three months ended September 30, 2024, representing a decrease of approximately $0.6 million, or 32.5%. The decrease
was primarily attributable to a reduction of approximately $0.7 million in stock-based compensation, payroll and related expenses, board
of directors fees, investor relations costs and directors and officers insurance policy. This