Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 652

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 4
Chunk 652
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 cash used in
operating activities of approximately $13.4 million for the year ended December 31, 2023. The approximately $1.1 million decrease in
net cash used was primarily attributable to changes in operating assets and liabilities.

Investing
Activities

There
was no net cash provided by or used in investing activities for the year ended December 31, 2024. Net cash provided by investing activities
was approximately $17.1 million for the year ended December 31, 2023, which was related to the maturity of $24.0 million in marketable
securities, offset by net investment of approximately $6.9 million in marketable securities.

67

Financing
Activities

Net
cash provided by financing activities for the year ended December 31, 2024 was approximately $4.8 million, which was provided by issuance
and sale of our common stock under the ATM Agreement and issuance and sale of our common stock and warrants in the August 2024 Offering
and in the November 2024 Offering. There was no net cash provided by or used in financing activities for the year ended December 31,
2023.

Funding
Requirements

Our
operating expenses increased in 2024 and are expected to continue to increase in the future in connection with our ongoing activities,
particularly as we expect to continue to ramp up our clinical development activities and incur expenses associated with hiring additional
personnel to support our research and development efforts. In addition, if we obtain marketing approval for any of our product candidates,
we expect to incur significant commercialization expenses related to product sales, marketing, manufacturing and distribution. Furthermore,
we expect to continue to incur significant costs associated with operating as a public company.

We
believe that our existing cash and cash equivalents and marketable securities as of December 31, 2024 are adequate to fund our ongoing
activities into the second quarter of 2025.

Our
future capital requirements will depend on many factors, including, but not limited to:

    ●
    the
    scope, progress, results and costs of preclinical studies and clinical trials;

    ●
    the
    scope, prioritization and number of our clinical trials and other research and development programs;

    ●
    the
    amount of revenues we receive under future licensing, collaboration, development and commercialization arrangements with respect
    to our product candidates;

    ●
    the
    impact of any pandemic, epidemic or