The company is a pre-revenue clinical-stage biotech with no active pipeline, now a cash-rich shell seeking a strategic transaction. Monitor for announcements of a reverse merger, acquisition target, or new research partnership. The $12M raise provides a runway for deal-making, but the stock is purely a binary event play on management's ability to execute a pivot.
Price Chart
Executive Summary
Indaptus Therapeutics reported Q2 2026 results with no active clinical programs, having discontinued its Decoy20 study. Net loss narrowed to $1.8M from $5.2M YoY, driven by cost cuts. The company raised $12M in a June private placement, boosting cash to ~$11.6M, but is now a cash-burning shell evaluating strategic alternatives, including potential acquisitions or investments in new research areas like neurological disorders. The stock is a speculative story on the company's ability to execute a pivot, with no pipeline value.
Key Financial Metrics
Key Facts
- Net loss for Q2 2026 was $1.8M, down from $5.2M in Q2 2025.
- Cash, cash equivalents, and short-term investments totaled $11.6M as of June 30, 2026.
- Completed a $12.0M private placement on June 17, 2026, issuing 20M shares at $0.60/share.
- Discontinued further enrollment in the Decoy20 combination study; no active clinical development programs.
- Began a research collaboration in neurological disorders and sleep as an extension of immunotherapy research.
- All outstanding Series AA and Series AAA Preferred Stock converted into common stock during Q1 2026.
- Annual meeting held August 10, 2026; all director nominees elected and 2026 Equity Incentive Plan approved.
Financial Impact
Net loss improved by $3.4M YoY to $1.8M; cash position strengthened by $12M private placement to $11.6M.
Risk Factors
- No active clinical programs or revenue; company is a cash-burning shell.
- Dilution from the 20M-share June private placement (shares outstanding rose from 2.2M to 133.2M post-split).
- Going concern risk remains if a strategic transaction is not consummated before cash is depleted.
- Nasdaq continued-listing risk cited in forward-looking statements.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-037574 |
| Document: form8-k.htm | 0001493152-26-037574 |
| Document: 0001493152-26-037574-index-headers.html | 0001493152-26-037574 |
| Document: 0001493152-26-037574-index.html | 0001493152-26-037574 |
| Document: 0001493152-26-037574.txt | 0001493152-26-037574 |
| 8-K Data (Synthetic) | 0001493152-26-037574 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | 8-K | $2.56 $3.93 | ▼ −53.52% | ▼ −52.89% | $2.33 (+8.98%) |
Sep 4, 2026 27d ago | 424B5 | $1.85 $3.64 | ▼ −96.76% | ▼ −97.88% | $2.33 (−25.95%) |
Sep 1, 2026 4w ago | 8-K | $1.13 $2.08 | ▼ −84.07% | ▼ −83.99% | $2.33 (−106.19%) |
Aug 26, 2026 5w ago | EFFECT | $1.14 $1.17 | ▼ −2.63% | ▼ −2.75% | $2.33 (−104.39%) |
Aug 17, 2026 6w ago | S-3 | $0.9361 $1.10 | ▼ −16.97% | ▼ −17.18% | $2.33 (−148.91%) |
Aug 13, 2026 7w ago | 8-K | $1.06 $1.38 | ▲ +30.19% | ▲ +32.15% | $2.33 (+119.81%) |
Jul 20, 2026 10w ago | EFFECT | $2.46 $2.61 | ▼ −6.10% | ▼ −6.52% | $2.33 (+5.28%) |
Jun 26, 2026 13w ago | S-3 | $3.06 $2.85 | ▲ +6.86% | ▲ +8.25% | $2.33 (+23.86%) |
Jun 24, 2026 14w ago | 8-K | $3.26 $2.94 | ▲ +9.82% | ▲ +11.38% | $2.33 (+28.53%) |
May 15, 2026 20w ago | 8-K | $1.59 $1.22 | ▲ +23.27% | ▲ +24.23% | $2.33 (−46.54%) |
US Market Status
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