I
Indaptus Therapeutics, Inc.
INDPCIK 0001857044NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-20.80M
Total Assets
$9.31M
Equity
$3.15M
Shares Out
2.24M
Op. Cash Flow
$-14.80M
Business
Indaptus Therapeutics, Inc. is a clinical biotechnology company developing a systemically administered anti-cancer and anti-viral immunotherapy based on attenuated, killed non-pathogenic Gram‑negative bacteria. Its main product candidate is Decoy20 and a broader patented bacterial platform designed to activate innate and adaptive immunity, with cGMP manufacturing and ongoing Phase 1 clinical evaluation and planned combination studies. Key business activities include research and development, clinical development, cGMP manufacturing and intellectual property management. The company conducts clinical trials and partnerships in the United States and Canada and uses CROs and collaborator supply agreements for clinical distribution.
Summary from filing dated 2025-03-13
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Research and development | 9 | 7 | 8 | 6 | 3 | |
| General and administrative | 10 | 8 | 9 | 9 | 5 | |
| Total operating expenses | 20 | 15 | 16 | 15 | 8 | |
| Loss from operations | −20 | −15 | −16 | −15 | −8 | |
| Other income, net | 138,018 | 343,724 | — | — | — | |
| Change in fair value of convertible promissory notes | −1 | — | — | — | — | |
| Net loss | −21 | −15 | −15 | −14 | −8 | |
| Net loss available to common stockholders per share of common stock, basic | −21.58 | −44.96 | −1.83 | −1.73 | −1.89 | |
| Net loss available to common stockholders per share of common stock, diluted | −21.58 | −44.96 | −1.83 | −1.73 | — | |
| Weighted average number of shares used in calculating net loss per share, basic | 966,124 | 334,133 | 8 | 8 | 4 | |
| Weighted average number of shares used in calculating net loss per share, diluted | 966,124 | 334,133 | 8 | 8 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 9 | 6 | 13 | 10 | 39 | |
| Prepaid expenses and other current assets | 802,540 | 831,577 | 633,156 | 811,433 | 1 | |
| Total current assets | 9 | 7 | 14 | 27 | 40 | |
| Right-of-use asset | — | 82,175 | 173,206 | 79,294 | 169,088 | |
| Other assets - deposits to third parties | — | 638,251 | 754,728 | 738,251 | 16,477 | |
| Total non-current assets | — | 720,426 | 928,669 | 819,564 | 189,365 | |
| Total assets | 9 | 7 | 15 | 28 | 41 | |
| Accounts payable and other current liabilities | 6 | 3 | 3 | 3 | 5 | |
| Operating lease liability, current portion | — | 84,164 | 101,705 | 80,494 | 96,465 | |
| Total current liabilities | 6 | 3 | 3 | 3 | 5 | |
| Commitments and contingencies (Note 8) | — | — | — | — | — | |
| Common stock: $0.01 par value, 200,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 2,167,324 shares issued and outstanding as of December 31, 2025 and 428,799 shares issued and outstanding as of December 31, 2024 | 21,674 | 4,288 | 84,011 | 84,011 | 82,586 | |
| Preferred stock: $0.01 par value, 5,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 1,000,000 shares issued and outstanding as of December 31, 2025 and no shares issued and outstanding as of December 31, 2024 | 10,000 | — | — | — | — | |
| Additional paid in capital | 84 | 64 | 57 | 54 | 51 | |
| Accumulated deficit | −81 | −60 | −45 | −30 | −16 | |
| Total stockholders equity | 3 | 4 | 12 | 25 | 36 | |
| Total liabilities and stockholders equity | 9 | 7 | 15 | 28 | 41 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation | — | 735 | 1,284 | 1,781 | 1,403 | |
| Stock-based compensation | 1 | 2 | 3 | 3 | 2 | |
| Prepaid expenses and other current and non- current assets | 667,288 | −81,944 | 161,800 | 295,220 | −837,917 | |
| Accounts payable and other current liabilities | 3 | 474,057 | — | — | — | |
| Operating lease right-of-use asset and liability, net | −1,989 | 142 | 647 | 961 | 240 | |
| Net cash used in operating activities | −15 | −12 | −13 | −13 | −11 | |
| Proceeds from issuance of convertible promissory notes | 6 | — | — | — | — | |
| Proceeds from issuance of shares of common stock and warrants | 6 | 6 | — | — | — | |
| Proceeds from issuance of preferred stock | 6 | — | — | — | — | |
| Proceeds from exercise of pre-funded warrants | 1,908 | — | — | — | 27,273 | |
| Issuance costs | −569,465 | −762,703 | — | — | — | |
| Net cash provided by financing activities | 18 | 5 | — | — | 48 | |
| Net increase (decrease) in cash and cash equivalents | 3 | −8 | 4 | −30 | 37 | |
| Transaction costs in accounts payable and other current liabilities | — | 163,333 | — | — | — | |
| Settlement of convertible promissory notes | 7 | — | — | — | — | |
| Issuance of commitment shares | 109 | — | — | — | — |
Filings
Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro
Material Events
Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro
Insiders
Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro
Institutional Holders
Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro