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INDP

Indaptus Therapeutics, Inc.

INDP

Indaptus Therapeutics, Inc. • NASDAQ
$2.23 ▲ 0.00% (+0.00)
Market Cap $3.90 M
52w High $47.60
52w Low $1.65
Dividend Yield 0%
P/E -0.08
Volume 37.46K
Outstanding Shares 1.75M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $2.648M ▼ $-2.975M ▲ 0% $-2.98 ▲ $-2.975M ▲
Q2-2025 $0 $4.457M ▼ $-5.229M ▼ 0% $-9.1 ▼ $-5.229M ▼
Q1-2025 $0 $4.573M ▲ $-4.532M ▼ 0% $-0.48 ▼ $-4.573M ▼
Q4-2024 $0 $4.172M ▲ $-4.131M ▼ 0% $-0.38 ▼ $-4.131M ▼
Q3-2024 $0 $3.142M $-3.069M 0% $-0.32 $-3.142M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5.826M ▼ $6.84M ▲ $2.234M ▼ $4.606M ▲
Q2-2025 $6.158M ▲ $6.839M ▲ $8.513M ▲ $-1.673M ▼
Q1-2025 $3.891M ▼ $5.412M ▼ $2.612M ▼ $2.8M ▼
Q4-2024 $5.787M ▼ $7.339M ▼ $3.394M ▲ $3.945M ▼
Q3-2024 $7.381M $8.24M $2.236M $6.003M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.975M ▲ $-3.055M ▲ $0 $2.723M ▼ $-332.062K ▼ $-3.055M ▲
Q2-2025 $-5.229M ▼ $-4.018M ▲ $0 $6.285M ▲ $2.267M ▲ $-4.018M ▲
Q1-2025 $-4.532M ▼ $-5.047M ▼ $0 $3.151M ▲ $-1.896M ▼ $-5.047M ▼
Q4-2024 $-4.131M ▼ $-3.396M ▼ $0 $1.802M ▼ $-1.594M ▼ $-3.396M ▼
Q3-2024 $-3.069M $-2.513M $0 $2.592M $78.935K $-2.513M

Five-Year Company Overview

Income Statement

Income Statement Indaptus is still a classic early‑stage biotech story: no product revenue yet and ongoing losses. The income statement shows that the company spends money on operations and R&D without bringing in sales, which is normal for a clinical‑stage firm. Losses per share have been meaningful over the past several years, though they have bounced around rather than moving clearly in one direction. Overall, the business is still firmly in the “development and spending” phase, not in the “earning and scaling” phase.

Balance Sheet

Balance Sheet The balance sheet is very lean. Assets are small and largely made up of cash, with no debt reported, which lowers financial risk from lenders but also highlights how limited the resource base is. Equity has been shrinking over time, a sign that cumulative losses are eating into the company’s capital. Multiple reverse stock splits in recent years underscore that the company has had to manage a very small equity base and maintain listing standards, which can be a red flag about scale and financial strength.

Cash Flow

Cash Flow Cash flow is consistently negative, reflecting ongoing development work and overhead with no offsetting revenue. Operating and free cash flows are both in the red, meaning the company is burning cash each year to fund its activities. There is little to no spending on physical assets, so the cash use is mainly for people, trials, and research. This pattern is typical for a small biotech, but it also means the company’s future depends heavily on continued access to fresh capital from investors or partners.

Competitive Edge

Competitive Edge Indaptus is trying to carve out a niche in immuno‑oncology with a distinctive bacterial‑based “Decoy” platform. Its approach aims to trigger a broad immune response with killed, attenuated bacteria, which could differentiate it from more narrowly targeted or live‑bacteria competitors. A growing patent portfolio and “first‑in‑class” aspirations provide some protection and potential strategic value. However, the company is very small, still in early clinical stages, and operates in one of the most competitive and well‑funded areas of biotech. Larger drug companies and other immunotherapy players have deeper resources, more advanced programs, and established commercial footprints, so Indaptus’s competitive position will ultimately depend on whether its trial results are clearly better or more compatible with existing treatments.

Innovation and R&D

Innovation and R&D R&D is the heart of this company. The Decoy platform is designed to use killed bacteria to safely activate multiple arms of the immune system, with a lead candidate, Decoy20, already in an early‑stage trial for solid tumors. The strategy includes using Decoy20 alone and in combination with checkpoint inhibitors, which could open doors to partnering and combination regimens if data are supportive. Early signals of immune activation and at least one partial response reported in a patient are encouraging but very preliminary. The platform also has preclinical ambitions in chronic viral infections, which, if developed, could broaden its scope beyond cancer. Overall, the science is innovative and ambitious, but still unproven in larger, later‑stage studies, so scientific and clinical risk remains high.

Summary

Indaptus is a very early‑stage biotech with an innovative but still experimental immunotherapy platform. Financially, it has no revenue, ongoing losses, a very slim asset base, and continuous cash burn, all of which point to dependence on external funding or partnerships to keep moving forward. The lack of debt is a positive, but shrinking equity and the use of reverse splits highlight its fragile financial scale. Strategically, the company’s technology and patents give it a differentiated angle in immuno‑oncology, and its collaboration with a larger player on combination therapy adds some validation. At the same time, clinical, regulatory, and funding risks are substantial, as with most small biotechs at this stage. The company’s future will largely be determined by the strength, safety, and reproducibility of upcoming clinical trial data and its ability to secure ongoing financial support.

NEWS

November 17, 2025 · 8:00 AM UTC

Indaptus Therapeutics Chief Scientific Officer Dr. Michael Newman to Present at the Donor Selection & Cell Source Summit

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November 12, 2025 · 8:30 AM UTC

Indaptus Therapeutics Reports Third Quarter 2025 Financial Results and Provides Corporate Update

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September 4, 2025 · 4:01 PM UTC

Indaptus Therapeutics Provides Clinical Update

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September 2, 2025 · 4:05 PM UTC

Indaptus Therapeutics to Present at the H.C. Wainwright 27ᵗʰ Annual Global Investment Conference

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