Company: INDP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021759
Chunk: 7

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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on key individuals.

Going
concern and management’s plans

The
Company has incurred net losses and utilized cash in operations since inception. For the nine-month period ended September 30, 2025,
the Company incurred a net loss of approximately $12.7 million, and as of September 30, 2025, the Company had an accumulated deficit
of approximately $73.2 million. In addition, during the nine-month period ended September 30, 2025, the Company used approximately $11.6
million of cash in operations and expects to continue to incur significant cash outflows and incur future additional losses as clinical
trials and commercialization of the Company’s product candidates will require significant additional financing. The Company believes
that, as of the date of the issuance of these unaudited condensed consolidated financial statements, it has adequate cash to fund its
ongoing activities into the first quarter of 2026 based on its current operating plan. The Company plans to execute its operating plan
by obtaining additional capital, principally through entering into collaborations, strategic alliances, or license agreements with third
parties and/or additional public or private debt and equity financing. In February 2025, the Company entered into a Standby Equity Purchase
Agreement pursuant to which the Company has the right, but not the obligation, to sell up to $20 million of the Company’s common
stock during a 36-month period, subject to the restrictions and satisfaction of the conditions in the Standby Equity Purchase Agreement
(the “SEPA”). During the nine-month period ended September 30, 2025, the Company raised under the SEPA net proceeds of approximately
$1.75 million, after deducting offering expenses in the amount of approximately $0.1 million. For more details, see Note 6(c). In June
2025, the Company raised total gross proceeds of approximately $5.7 million through the issuance of convertible notes. Placement agent
fees and other offering-related expenses totaled approximately $0.8 million. For more details, see Note 7. In September 2025, the Company
raised total gross proceeds of approximately $2.34 million through its At The Market Offering Agreement (“ATM Agreement”).
 For more details, see Note 6(d). However, there is no assurance that additional capital and/or financing will be available to the Company, and even if available, whether
it will be on terms acceptable to the Company or in the amounts required. If the