aibioIndaptus Therapeutics closes $24.0 million private placement of 20,338,974 shares
Tickers INDP
Indaptus sold 20,338,974 shares for approximately $24.0 million after the closing date was pushed back. Its cash was $7.6 million at June 30, 2026, and its 2025 net loss was $20.8 million.
Key facts
- Company
- Indaptus Therapeutics, Inc. (NASDAQ: INDP)
- News type
- Financings
- Primary source
- Indaptus Therapeutics, Inc. 8-K (2026-10-20)
Indaptus Therapeutics, Inc. (Nasdaq: INDP) said on October 20, 2026 that it completed a private placement of its common stock on October 16, 2026. The company agreed to sell 20,338,974 shares, par value $0.01 per share, for aggregate gross proceeds of approximately $24.0 million before offering expenses. It said it will issue the shares to the purchasers in connection with the closing.
The company first disclosed the deal on September 9, 2026. It rests on a Stock Purchase Agreement dated September 8, 2026, with purchasers named only in that agreement. The October 20 filing does not name them. It also names no placement agent, underwriter or financial adviser, and it does not state a price per share. The filing is signed by Chief Executive Officer Junyi Dai.
A closing that slipped
The deal did not close on its original timetable. In notices and consents reported in an 8-K filed September 30, 2026, the company and the purchasers moved the outside date for each purchaser from September 29, 2026 to October 16, 2026. The outside date is the deadline by which the deal must close. The company closed on October 16, the extended date. The October filing does not say why the date was moved.
Cash, losses and spending
Cash was thin. The company's quarterly report shows cash and cash equivalents of $7.6 million at June 30, 2026, plus short-term investments of $4.0 million. For the year ended December 31, 2025, it reported a net loss of $20.8 million, up from $15.0 million in 2024. Cash used in operations was $14.8 million in 2025, compared with $12.3 million a year earlier.
Research and development expense was $9.3 million in 2025, up from $7.3 million in 2024. General and administrative expense was $10,492,554, against $8,114,654, and the net loss per share for 2025 was $21.58 on a weighted average of 966,124 shares. For scale, the placement covers 20,338,974 shares, though the October filing does not give the share count after closing. The annual report says the company has discontinued further enrollment in its Combination Study and that no participants remain in it. It also says the company has no current plans to start a new clinical trial, and it expects research and development expenses to decrease in the short term.
The annual report does not describe a replacement trial, and the October filing does not state a use for the $24.0 million. The study the annual report discusses has stopped enrolling.
A December investment and a planned deal
On December 22, 2025, the company sold 300,000 shares of Series AA Convertible Preferred Stock and 700,000 shares of Series AAA Convertible Preferred Stock to Mr. Lazar at $6.00 per share of preferred stock, for aggregate gross proceeds of $6.0 million.
The annual report says that, as part of that investment, the company plans to pursue a strategic transaction involving either an investment in or an acquisition of a Target Company. It says combining with a Target Company could create growth opportunities, if the transaction is approved and completed. It expects general and administrative expenses to fall in the short term, but says that cost could be offset by costs tied to any acquisition of a Target Company.
The October 20 filing does not say whether Mr. Lazar or any of his affiliates is among the purchasers in the placement, and it does not connect the two transactions.
What comes next
The company says it will issue the 20,338,974 shares to the purchasers as part of the closing. Its common stock trades on the Nasdaq Capital Market under the symbol INDP. The filing gives no date for a target transaction, no timetable for a new trial, and no figure for shares outstanding after the placement, so the size of the dilution cannot be measured from that filing alone.