Indaptus Therapeutics Q1 2025 Financial Results and Corporate Update

Indaptus Therapeutics, Inc., a clinical-stage biotechnology company focused on innovative cancer and viral infection treatments, has released its financial results for the first quarter ended March 31, 2025. The company also provided a corporate update highlighting significant progress in its clinical and research programs.

Financial Highlights

For the first quarter of 2025, Indaptus Therapeutics reported:

• Research and development expenses increased to $2.8 million from $1.6 million in the same period in 2024, primarily due to higher expenses related to the Phase 1 clinical trial.
• General and administrative expenses decreased to $1.8 million from $2.4 million in the first quarter of 2024, mainly due to reduced payroll and legal fees.
• Net loss per share improved to $0.32 from $0.45 in the same period last year.
• Cash and cash equivalents stood at $3.9 million as of March 31, 2025, down from $5.8 million as of December 31, 2024.
• Net cash used in operating activities was $5.0 million, compared to $3.9 million in the first quarter of 2024.
• Net cash provided by financing activities was $3.2 million, up from $0.3 million in the same period last year, primarily due to the issuance and sale of common stock and warrants.

Business and Operational Highlights

Indaptus Therapeutics made significant strides in its clinical and research programs during the first quarter of 2025:

• Initiated the expansion arm of the Phase 1b/2 clinical trial of Decoy20, evaluating its combination with Tislelizumab, a PD-1 checkpoint inhibitor.
• Reported new data demonstrating successful broad immune system activation in the weekly dosing trial of Decoy20.
• Expanded its patent portfolio in China, Japan, and Israel, enhancing its intellectual property for infectious disease and cancer treatment.
• Dr. Michael Newman, Founder and Chief Scientific Officer, presented at the 10th Annual Innate Killer Summit.

Strategic Initiatives and Corporate Developments

The company has implemented a cost-reduction plan to focus on the combination study of Decoy20 with Tislelizumab. Additionally, Indaptus strengthened its intellectual property portfolio with new patents granted in China, Japan, and Israel.

Management's Perspective

Jeffrey Meckler, Chief Executive Officer of Indaptus Therapeutics, commented on the company's progress: "We made meaningful progress in the first quarter across multiple fronts of our clinical and research programs. Early data from the weekly dosing suggests that Decoy20 is generally well-tolerated, with a favorable safety profile and encouraging signs of clinical benefit, including instances of stable disease."

Future Outlook

Indaptus Therapeutics will need to obtain additional capital to fund its ongoing activities beyond the second quarter of 2025. The company remains focused on advancing its clinical trials and expanding its intellectual property portfolio.

SEC Filing: Indaptus Therapeutics, Inc. [ INDP ] - 8-K - May. 14, 2025