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Indaptus Therapeutics (INDP)
NASDAQ:INDP
US Market

Indaptus Therapeutics (INDP) AI Stock Analysis

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INDP

Indaptus Therapeutics

(NASDAQ:INDP)

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Neutral 46 (OpenAI - 5.2)
Rating:46Neutral
Price Target:
$2.50
▼(-8.09% Downside)
The score is held down primarily by weak financial performance (no revenue, sustained losses, negative cash flow, and a reduced equity/asset base). Technicals offer only modest near-term support, while valuation is constrained by negative earnings and no dividend. A positive board appointment helps on governance but is secondary to the company’s financial risk profile.
Positive Factors
Innate-immune platform and combination potential
A platform that activates the innate immune system and is designed for combination use with other oncology treatments provides durable strategic optionality. It supports differentiation versus single-mechanism drugs, enables partnership opportunities with larger oncology players, and can sustain pipeline value over time.
Low financial leverage
Minimal debt materially lowers insolvency risk for a cash-burning clinical-stage biotech. Low leverage preserves flexibility to raise capital on more favorable terms, supports continued R&D spending without immediate debt servicing pressures, and reduces structural liquidity strain.
New strategic financing and governance reset
The $6M private placement and appointment of an investor as Co‑CEO/Chair represent a structural recapitalization and governance change. This can extend near-term runway, bring capital markets and strategic expertise, and enable a coordinated plan to stabilize funding and advance clinical programs.
Negative Factors
No revenue and persistent operating losses
Absence of commercial revenue and sustained multi-year losses mean the company cannot self-fund development. Persistent losses erode shareholder equity, increase reliance on external financing, and raise execution risk if additional capital or partnerships are delayed or unfavorable.
Negative operating cash flow and weak cash generation
Consistently negative operating cash flow indicates the business consumes cash to fund trials and operations. Without recurring cash generation, the firm faces dilution or constrained program spending, which can slow development timelines and limit ability to capitalize on positive clinical readouts.
Sharply reduced assets and equity base
A steep decline in total assets and shareholders' equity weakens the balance-sheet cushion against setbacks. With a much smaller equity base, future operating losses or trial disappointments will more quickly erode capital, increasing sensitivity to dilution and reducing strategic flexibility.

Indaptus Therapeutics (INDP) vs. SPDR S&P 500 ETF (SPY)

Indaptus Therapeutics Business Overview & Revenue Model

Company DescriptionIndaptus Therapeutics, Inc., a pre-clinical biotechnology company, develops various anti-cancer and anti-viral immunotherapy products. Its lead clinical oncology candidate is Decoy20 to single agent activity and/or combination therapy-based durable responses of lymphoma, hepatocellular, colorectal, and pancreatic tumors, as well as hepatitis B virus and human immunodeficiency virus infection, which is in Phase I clinical trial. The company was formerly known as Intec Parent, Inc. and changed its name to Indaptus Therapeutics, Inc. in August 2021. Indaptus Therapeutics, Inc. was incorporated in 2021 and is headquartered in New York, New York.
How the Company Makes Money

Indaptus Therapeutics Financial Statement Overview

Summary
Weak fundamentals driven by no revenue, persistent operating and net losses, and ongoing cash burn. Low leverage is a positive, but the sharp decline in assets and equity reduces the balance-sheet cushion and increases reliance on external funding.
Income Statement
12
Very Negative
TTM (Trailing-Twelve-Months) results show no revenue and continued operating losses (EBIT roughly -$15.8M; net loss roughly -$16.9M). Losses have remained sizable over multiple years, with the annual net loss expanding versus 2021–2022 levels, reflecting a business still in heavy investment mode without a commercial revenue base. A positive: losses are relatively consistent year-to-year (no sudden blow-up), but the lack of revenue and persistent negative profitability materially weaken the income statement profile.
Balance Sheet
46
Neutral
Leverage is very low (debt is minimal), which reduces financial risk. However, the equity base and total assets have declined sharply from 2021 to TTM (equity down from ~ $35.9M to ~ $4.6M; assets down from ~ $40.6M to ~ $6.8M), consistent with ongoing cash burn and limited replenishment. Returns to shareholders are deeply negative in TTM given the losses on a much smaller equity base, which increases sensitivity to further operating setbacks despite low debt.
Cash Flow
18
Very Negative
Cash generation remains weak, with operating cash flow negative in every period and TTM operating cash flow around -$15.5M; free cash flow is similarly negative. While TTM free cash flow improved versus the prior annual period (a meaningful positive), the business is still consuming cash and does not show self-funding operations. The cash flow profile implies continued dependence on external financing unless spending is reduced or revenue sources emerge.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue0.000.000.000.000.000.00
Gross Profit0.000.000.000.000.000.00
EBITDA-16.91M-15.37M-16.38M-14.91M-7.73M-3.60M
Net Income-16.87M-15.02M-15.42M-14.32M-7.71M-3.58M
Balance Sheet
Total Assets6.84M7.34M14.92M28.06M40.58M1.78M
Cash, Cash Equivalents and Short-Term Investments5.83M5.79M13.36M26.43M39.13M1.64M
Total Debt8.69K84.16K175.05K80.49K169.33K0.00
Total Liabilities2.23M3.39M2.85M3.43M4.68M2.02M
Stockholders Equity4.61M3.94M12.08M24.63M35.90M-237.70K
Cash Flow
Free Cash Flow-15.52M-12.32M-13.41M-13.25M-11.29M-3.32M
Operating Cash Flow-15.52M-12.32M-13.41M-13.08M-11.29M-3.32M
Investing Cash Flow0.000.0017.14M-16.43M447.75K0.00
Financing Cash Flow13.96M4.75M0.000.0048.34M1.16M

Indaptus Therapeutics Technical Analysis

Technical Analysis Sentiment
Positive
Last Price2.72
Price Trends
50DMA
2.49
Positive
100DMA
3.07
Positive
200DMA
6.92
Negative
Market Momentum
MACD
0.20
Negative
RSI
67.31
Neutral
STOCH
79.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INDP, the sentiment is Positive. The current price of 2.72 is above the 20-day moving average (MA) of 2.70, above the 50-day MA of 2.49, and below the 200-day MA of 6.92, indicating a neutral trend. The MACD of 0.20 indicates Negative momentum. The RSI at 67.31 is Neutral, neither overbought nor oversold. The STOCH value of 79.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for INDP.

Indaptus Therapeutics Risk Analysis

Indaptus Therapeutics disclosed 56 risk factors in its most recent earnings report. Indaptus Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Indaptus Therapeutics Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
53
Neutral
$247.35M-0.39-228.64%71.95%
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
46
Neutral
$7.43M-0.11-317.98%34.57%
45
Neutral
$6.87M-1.33-145.65%68.59%
42
Neutral
$5.54M-1.18-57.43%13.30%22.70%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
INDP
Indaptus Therapeutics
3.43
-20.78
-85.83%
PALI
Palisade Bio
1.66
0.15
9.93%
TCRT
Alaunos Therapeutics
3.08
1.32
75.00%
XBIO
Xenetic Biosciences
2.42
-1.90
-44.07%
XAGE
Longevity Health Holdings
0.37
-13.83
-97.37%

Indaptus Therapeutics Corporate Events

Executive/Board Changes
Indaptus Therapeutics Appoints David Natan to Board
Positive
Jan 8, 2026

On January 8, 2026, Indaptus Therapeutics, Inc. expanded its Board of Directors from eight to nine members and appointed David Natan as a Class II director, with a term running until the 2026 annual meeting of stockholders. Natan, designated under a December 22, 2025 securities purchase agreement by investor David E. Lazar, brings extensive executive, financial, and public company board experience, including leadership roles in consulting, energy, pharmaceuticals, technology, and prior tenure at Deloitte & Touche. He was simultaneously named to the Audit Committee, replacing Avraham Ben-Tzvi in that role, while Ben-Tzvi will remain on the Board as a director and is expected to serve as a paid consultant, and the Board has determined that Natan meets Nasdaq’s independence and heightened audit committee independence requirements and will be compensated under the company’s non-employee director compensation plan.

The most recent analyst rating on (INDP) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Indaptus Therapeutics stock, see the INDP Stock Forecast page.

Executive/Board ChangesShareholder Meetings
Indaptus Therapeutics announces upcoming board leadership transition
Neutral
Jan 2, 2026

On December 29, 2025, Indaptus Therapeutics, Inc. announced that three members of its Board of Directors — Michael Newman, Mark Gilbert and Anthony Maddaluna — submitted their resignations, to be effective upon the approval of David Lazar’s nominees at the company’s next stockholders’ meeting. The company stated that these resignations were not due to any disagreement with management, the board or its committees regarding the company’s operations, policies or practices, indicating an orderly governance transition rather than a response to internal conflict.

The most recent analyst rating on (INDP) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Indaptus Therapeutics stock, see the INDP Stock Forecast page.

Business Operations and StrategyExecutive/Board ChangesPrivate Placements and FinancingShareholder MeetingsStock Split
Indaptus Therapeutics secures new funding and leadership shift
Neutral
Dec 23, 2025

On December 22–23, 2025, Indaptus Therapeutics raised $6 million through a private sale of 300,000 shares of Series AA Convertible Preferred Stock and 700,000 shares of Series AAA Convertible Preferred Stock to investor David E. Lazar at $6.00 per share, securities that are ultimately convertible into a combined 111 million shares of common stock and rank senior to common equity in a liquidation. The company plans to use the proceeds for ongoing operations, severance and general corporate purposes, and has committed to seek shareholder approval by March 31, 2026 for a series of governance and capital structure actions, including authorizing sufficient common shares for conversion, permitting written shareholder consents, adding three Lazar designees to the board and executing a reverse stock split, while granting Lazar participation rights for up to 25% of future equity offerings during a six‑month period. The financing coincided with significant leadership changes: directors Robert Martell and Hila Karah resigned following approval of the offering; Lazar was installed as chairman and co‑chief executive officer and joined on the board by attorney and capital markets specialist Avraham Ben‑Tzvi, while existing director Roger Pomerantz remained on the board and took on key committee roles. In parallel, the company renegotiated terms with its executive team—reducing notice periods and waiving severance in exchange for a mix of cash and equity settlements, securing their voting support for the upcoming shareholder meeting, and accepted the year‑end resignation of its chief medical officer, actions that collectively underscore a broad recapitalization and governance reset aimed at stabilizing the balance sheet and aligning control with the new lead investor.

The most recent analyst rating on (INDP) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Indaptus Therapeutics stock, see the INDP Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 09, 2026