Indaptus Therapeutics (INDP) investor relations material

Executive summary

• Focused on developing systemically administered anti-cancer and anti-viral immunotherapies, with lead candidate Decoy20 having completed Phase 1 and Combination Study enrollment; no new clinical trials planned.

• Underwent executive management transition, including new CFO and resignation of Chief Scientific Officer, prompting operational and organizational adjustments and potential uncertainties.

• Actively evaluating strategic options for a Post-Investment Transaction, including potential investments or acquisitions to drive future growth.

• Currently reassessing development priorities, resource allocation, and the Decoy platform's relevance.

• Focus remains on advancing therapeutic and research activities despite transition.

Financial highlights

• Net loss for Q1 2026 was $2.5 million, a 53% improvement from $4.5 million in Q1 2025, mainly due to reduced R&D expenses.

• Research and development expenses decreased 83% year-over-year to $0.5 million, reflecting the wind-down of clinical activities and reduced headcount.

• General and administrative expenses were $1.7 million, down 5% from the prior year.

• Cash and cash equivalents as of March 31, 2026, were $1.5 million, down from $8.5 million at year-end 2025.

• Net cash used in operating activities was $7.0 million for Q1 2026, up from $5.0 million in Q1 2025.

Outlook and guidance

• Management expects operating expenses to decrease in the short term due to the discontinuation of clinical studies.

• Additional capital will be required to fund operations beyond Q2 2026; failure to secure financing may result in reduced R&D or cessation of operations.

• Strategic transactions and financing alternatives are being considered to create future growth opportunities.

• Future development and collaborations will be evaluated based on scientific, clinical, and regulatory considerations.