Indaptus Therapeutics, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Indaptus Therapeutics, Inc. has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

Indaptus Therapeutics, Inc. (INDP) filed a Annual Report (10-K) with the SEC on March 13, 2024. Indaptus Therapeutics, Inc. filed its 2023 Form 10-K on March 13, 2024. The company's fiscal year ends on December 31st. The filing covers the period from January 1, 2023, to December 31, 2023. Indaptus Therapeutics, Inc. was formerly known as Intec Parent Inc. The company's business address is 3 Columbus Circle, 15th Floor, New York, NY 10019.

Why It Matters

For investors and stakeholders tracking Indaptus Therapeutics, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Indaptus Therapeutics' financial performance, business operations, and risk factors for the fiscal year 2023, crucial for investors to assess the company's current standing and future prospects. The filing details the company's financial health, including its assets, liabilities, and equity, as well as its operational expenses like research and development, which are key indicators for a biotechnology firm.

Risk Assessment

Risk Level: — Indaptus Therapeutics, Inc. shows moderate risk based on this filing. The company is in the pharmaceutical preparations industry, which is highly regulated and competitive, and the filing does not provide specific financial performance data to indicate strong growth or profitability, suggesting a medium level of risk.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand the company's financial position and strategic direction.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-03-13 — Filing Date (Date the 10-K was filed)
• 2021-04-14 — Date of Name Change (From Intec Parent Inc. to Indaptus Therapeutics, Inc.)

Key Players & Entities

• Indaptus Therapeutics, Inc. (company) — Filer
• Intec Parent Inc. (company) — Former company name
• 3 Columbus Circle (location) — Business and mailing address
• New York (location) — City for business and mailing address
• 10019 (location) — ZIP code for business and mailing address

FAQ

Risk Factors

• Regulatory Environment [high — regulatory]: The company operates in a highly regulated industry, subject to extensive oversight from bodies like the FDA, which can impact product development and market access.
• Market Competition [high — market]: The pharmaceutical and biotechnology sectors are intensely competitive, with numerous companies developing similar therapies, posing a risk to market share and pricing.
• Funding and Liquidity [medium — financial]: As a clinical-stage company, Indaptus Therapeutics may require significant capital for ongoing research, development, and potential commercialization, posing liquidity risks if funding is not secured.
• Dependence on Key Personnel [medium — operational]: The success of the company may depend on the continued service of key scientific and management personnel, and their departure could adversely affect operations.

Key Dates

• 2024-03-13: Filing of 2023 Form 10-K — Provides comprehensive annual financial and operational data.
• 2023-12-31: Fiscal Year End — End date for the reporting period.
• 2021-04-14: Company Name Change — Transition from Intec Parent Inc. to Indaptus Therapeutics, Inc.

Key Financial Figures

• $0.01 — ) of the Act: Common stock, par value $0.01 INDP Nasdaq Capital Market (Titl

Filing Documents

• form10-k.htm (10-K) — 1363KB
• ex10-8.htm (EX-10.8) — 128KB
• ex23-1.htm (EX-23.1) — 6KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 20KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• ex97-1.htm (EX-97.1) — 31KB
• form10-k_002.jpg (GRAPHIC) — 67KB
• form10-k_003.jpg (GRAPHIC) — 59KB
• form10-k_004.jpg (GRAPHIC) — 34KB
• form10-k_005.jpg (GRAPHIC) — 48KB
• form10-k_006.jpg (GRAPHIC) — 54KB
• form10-k_007.jpg (GRAPHIC) — 30KB
• form10-k_008.jpg (GRAPHIC) — 54KB
• 0001493152-24-009769.txt (&nbsp;) — 5779KB
• indp-20231231.xsd (EX-101.SCH) — 31KB
• indp-20231231_cal.xml (EX-101.CAL) — 48KB
• indp-20231231_def.xml (EX-101.DEF) — 101KB
• indp-20231231_lab.xml (EX-101.LAB) — 280KB
• indp-20231231_pre.xml (EX-101.PRE) — 214KB
• form10-k_htm.xml (XML) — 481KB

Business

Business 7 Item 1A.

Risk Factors

Risk Factors 23 Item 1B. Unresolved Staff Comments 58 Item 1C. Cybersecurity 58 Item 2.

Properties

Properties 59 Item 3.

Legal Proceedings

Legal Proceedings 59 Item 4. Mine Safety Disclosures 59 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 60 Item 6. [Reserved] 60 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 60 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 66 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 67 Item 9A.

Controls and Procedures

Controls and Procedures 67 Item 9B. Other Information 67 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 67 PART III Item 10. Directors, Executive Officers and Corporate Governance 68 Item 11.

Executive Compensation

Executive Compensation 71 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 71 Item 13. Certain Relationships and Related Transactions, and Director Independence 72 Item 14. Principal Accountant Fees and Services 72 PART IV Item 15. Exhibits and Financial Statement Schedules 72 Item 16. Form 10-K Summary 74 2 ABOUT THIS ANNUAL REPORT All references to "we," "us," "our," "Indaptus Therapeutics", "Indaptus", "the Company" and "our company", in this Annual Report on Form 10- K, or our Annual Report, are to Indaptus Therapeutics, Inc. (formerly Intec Parent, Inc.) and, where appropriate, its consolidated subsidiaries, Intec Pharma Ltd. and Decoy Biosystems, Inc. All references to "common stock" and "share capital" refer to common stock and share capital of Indaptus. Our historical results do not necessarily indicate our expected results for any future periods. Any discrepancies in any table between totals and sums of the amounts listed are due to rounding. Unless otherwise indicated, or the context otherwise requires, references in this Annual Report to financial and operational data for a particular year refer to the fiscal year of our Company ended December 31 of that year. EXPLANATORY NOTE Market data and certain industry data and forecasts used throughout this Annual Report were obtained from market research databases, consultant surveys commissioned by us, publicly available information, reports of governmental agencies and industry publications and surveys. Industry surveys, publications, consultant surveys commissioned by us and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable. We have relied on certain data from third-party sources, including internal surveys, industry forecasts and market research, which we believe to be reliable based on our management's knowledge of the industry. Statements as to our market position are based on the most curr

Risk Factors

Risk Factors The principal factors and uncertainties that make investing in our common stock risky, include, among others: We are a clinical-stage company with a limited operating history. We are not currently profitable, do not expect to become profitable in the near future and may never become profitable. We have identified conditions and events that raise substantial doubt regarding our ability to continue as going concern. Given our lack of current cash flow, we will need to raise additional capital. If we are unable to raise a sufficient amount of capital when needed on acceptable terms or at all, we may be forced to delay, limit or eliminate some or all of our research programs, product development activities and commercialization efforts. Raising additional capital would cause dilution to our existing shareholders and may restrict our operations or require us to relinquish rights to our technologies or product candidates. Clinical and preclinical development involves lengthy and expensive processes with uncertain outcomes. Any difficulties or delays in the commencement or completion, or the termination or suspension, of our current or planned clinical trials could result in increased costs to us, delay or limit our ability to generate revenue or adversely affect our commercial prospects. We expect to continue to incur significant research and development expenses and other operating expenses, which may make it difficult for us to attain profitability. We may expend our limited resources to pursue a limited number of research programs, product candidates and specific indications and fail to capitalize on product candidates or indications that may be more profitable or for which there is a greater likelihood of success. Our product candidates may cause undesirable side effects that could delay or prevent their regulatory approval or commercialization or have other significant adverse implications on our business, financial condition and result

View Full Filing

View this 10-K filing on SEC EDGAR