Indaptus Therapeutics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $9.3M | $7.3M | $7.6M | $6.3M | $2.5M |
| Operating expenses | $19.8M | $15.4M | $16.4M | $14.9M | $7.7M |
| Operating income | -$19.8M | -$15.4M | -$16.4M | -$14.9M | -$7.7M |
| Pretax income | -$20.8M | -$15.0M | — | — | — |
| Income tax expense | $1,716 | $1,700 | $2,450 | $30 | $1,650 |
| Net income | -$20.8M | -$15.0M | -$15.4M | -$14.3M | -$7.7M |
| Balance Sheet | |||||
| Cash and equivalents | $8.5M | $5.8M | $13.4M | $9.6M | $39.1M |
| Current assets | $9.3M | $6.6M | $14.0M | $27.2M | $40.4M |
| Total assets | $9.3M | $7.3M | $14.9M | $28.1M | $40.6M |
| Current liabilities | $6.2M | $3.4M | $2.8M | $3.4M | $4.6M |
| Total liabilities | — | $3.4M | $2.8M | $3.4M | $4.7M |
| Stockholders' equity | $3.2M | $3.9M | $12.1M | $24.6M | $35.9M |
| Cash Flow Statement | |||||
| Cash from operations | -$14.8M | -$12.3M | -$13.4M | -$13.1M | -$11.3M |
| Depreciation and amortization | — | $735 | $1,284 | $1,781 | $1,403 |
| Stock-based compensation | $1.4M | $2.3M | $3.0M | $3.0M | $1.5M |
| Capital expenditure | — | — | — | — | $3,854 |
| Free cash flow | — | — | — | — | -$11.3M |
Shares outstanding 113.2M
Annual filing data through FY ended December 31, 2025; float as of July 16, 2026.