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

Core Insights - Indaptus Therapeutics reported significant progress in its clinical and research programs during Q1 2025, including the initiation of a Phase 1b/2 clinical trial expansion for Decoy20 in combination with Tislelizumab [2][3] - The company has expanded its intellectual property portfolio with new patents granted in China, Japan, and Israel for its Decoy platform [2] - Financial results indicate an increase in research and development expenses, while general and administrative expenses decreased, leading to a net loss per share improvement compared to the previous year [4][5] Financial Highlights - Research and development expenses for Q1 2025 were $2.8 million, up from $1.6 million in Q1 2024, primarily due to increased costs associated with the Phase 1 clinical trial [4] - General and administrative expenses decreased to $1.8 million in Q1 2025 from $2.4 million in Q1 2024, attributed to lower payroll and legal fees [5] - The net loss for Q1 2025 was $4.5 million, resulting in a loss per share of $0.32, compared to a loss of $3.8 million and a loss per share of $0.45 in Q1 2024 [5][16] Cash Position - As of March 31, 2025, the company had cash and cash equivalents of $3.9 million, down from $5.8 million at the end of 2024, indicating a need for additional capital to fund ongoing activities beyond Q2 2025 [6] - Net cash used in operating activities increased to $5.0 million in Q1 2025 from $3.9 million in Q1 2024, primarily due to heightened research and development activities [7][19] - Financing activities provided $3.2 million in Q1 2025, a significant increase from $0.3 million in the same period of the previous year, mainly from the issuance and sale of common stock and warrants [8][9] Clinical Developments - The company has enrolled 32 patients in the Decoy20 weekly dosing trial, which is now concluding as the focus shifts to the combination treatment with Tislelizumab [2] - Early data from the weekly dosing suggests Decoy20 is well-tolerated with a favorable safety profile and early signs of clinical benefit, including instances of stable disease [2] - Indaptus' Decoy platform is designed to activate both innate and adaptive immune responses, showing promise in pre-clinical studies against various cancers and viral infections [10]