Indaptus reports Q2 net loss $9.09/sh; first patient dosed in Decoy20 combo trial with tislelizumab

Indaptus Therapeutics, Inc.

2025-Q2 EPS reported -$18.09

Q2 2025 R&D expenses $2.2M (up $0.5M YoY); G&A $2.3M (down $0.1M YoY); net loss per share $9.09 vs. $13.16.
Cash and equivalents $6.2M as of June 30, 2025; expected runway into Q4 2025.
First patient dosed in Phase 1b/2 combination study of Decoy20 with PD-1 checkpoint inhibitor tislelizumab (TEVIMBRA).
Raised ~$5.7M gross via convertible notes and warrants in June 2025; converted to common stock and pre-funded warrants in July.
Company expects to share initial combination trial data from first cohort later this year.

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