Indaptus Therapeutics, Inc.
INDP evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for INDP—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · INDP
Indaptus Therapeutics, Inc. is a clinical-stage biotechnology company developing a patented, systemically-administered immunotherapy platform (Decoy) for anti-cancer and anti-viral applications. As of mid-2026, the company has discontinued all active clinical studies of its lead candidate Decoy20, substantially reduced development activities, and is evaluating strategic alternatives for its business and assets.
Key risk: Clinical program discontinuation
BioSniper Score
Based on 5 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 1 clinical trial for Indaptus Therapeutics, Inc..
Indaptus Therapeutics, Inc. is a clinical-stage biotechnology company developing a patented, systemically-administered immunotherapy platform (Decoy) for anti-cancer and anti-viral applications. As of mid-2026, the company has discontinued all active clinical studies of its lead candidate Decoy20, substantially reduced development activities, and is evaluating strategic alternatives for its business and assets.
- Indaptus is developing a patented immunotherapy platform (Decoy) based on attenuated, killed Gram-negative bacteria designed to activate both innate and adaptive immune responses without requiring tumor antigen targeting [sec_mda · as of 2025-11-12].
- The lead candidate Decoy20 entered a Phase 1 clinical trial in advanced solid tumors in 2023, but enrollment was concluded in May 2025; by August 2026, all clinical studies were discontinued with no participants remaining [sec · filed 2026-08-17].
- As of June 30, 2026, the company reported cash & equivalents of $7.6M, a net loss of -$1.8M for the quarter, and shareholders' equity of $3.2M [latest reported financials].
- The company has initiated a research collaboration with Kunming University of Science and Technology in neurological research and sleep while evaluating strategic alternatives for its Decoy platform and Decoy20 assets [sec · filed 2026-08-17].
- Indaptus has implemented cost-reduction measures including elimination of non-essential expenses and temporary salary reductions (discontinued November 1, 2025) to preserve capital [sec_mda · as of 2025-11-12].
What works
- The Decoy platform demonstrated durable anti-tumor synergy with four different classes of existing agents (NSAIDs, checkpoint therapy, targeted antibody therapy, low-dose chemotherapy) in preclinical models [sec_mda · as of 2026-03-17].
- The technology activates both innate and adaptive immunological memory without requiring provision of or targeting a tumor antigen, which could broaden potential applications [sec_mda · as of 2026-03-17].
- The company is exploring a new research collaboration in neurological research and sleep, potentially expanding the platform's utility beyond oncology [sec · filed 2026-08-17].
What to weigh
- All active clinical studies of Decoy20 have been discontinued with no participants remaining, and the company has no current plans to initiate a new clinical trial [sec · filed 2026-08-17].
- The company has a limited cash runway of $7.6M as of June 30, 2026, and has previously stated that existing cash was only adequate into the second quarter of 2025, indicating ongoing capital needs [latest reported financials; sec_mda · as of 2025-03-13].
- The company is evaluating strategic alternatives for its business and assets, which introduces significant uncertainty about its future direction and ability to continue as a going concern [sec · filed 2026-08-17].
- Indaptus has a history of net losses and negative cash flows, with a net loss of -$1.8M in the most recent quarter alone [latest reported financials].
From the filings
Quoted directly from source documents.
All clinical studies of Decoy20 have been discontinued with no participants remaining.
“we discontinued further enrollment in our combination study, there are no participants remaining in any active Decoy20 clinical study, and we substantially reduced activities related to the further development of Decoy20 while we evaluate strategic alternatives for our business and therapeutic assets.”
SEC filings · August 17, 2026
The Decoy platform showed preclinical synergy with multiple drug classes.
“durable anti-tumor response synergy observed with each of four different classes of existing agents, including NSAIDs, checkpoint therapy, targeted antibody therapy and low-dose chemotherapy.”
SEC MD&A · March 17, 2026
The company is evaluating strategic alternatives.
“we evaluate strategic alternatives for our business and therapeutic assets.”
SEC filings · August 17, 2026
Risks & what to watch (4)›
Key risks
- Clinical program discontinuation — All Decoy20 studies halted; no active trials or plans to initiate new ones [sec · filed 2026-08-17].
- Cash runway uncertainty — Only $7.6M cash as of June 30, 2026; prior guidance suggested cash only into Q2 2025 [latest reported financials; sec_mda · as of 2025-03-13].
- Strategic alternative outcome — Company evaluating strategic alternatives; outcome may include sale, merger, or dissolution [sec · filed 2026-08-17].
- No revenue or approved products — Company has no commercial products and relies on external financing for operations [sec_mda · as of 2025-11-12].
What to watch
- Outcome of strategic alternative evaluation, including potential licensing, partnership, or sale of Decoy platform assets [sec · filed 2026-08-17].
- Progress and results of the research collaboration with Kunming University of Science and Technology in neurological research and sleep [sec · filed 2026-08-17].
- Cash burn rate and any additional financing or cost-reduction measures given the $7.6M cash position as of June 30, 2026 [latest reported financials].
- Any updates on potential re-initiation of clinical development or new indications for the Decoy platform [sec · filed 2026-08-17].
Sources: SEC filings · SEC MD&A · Generated August 28, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
17.7 months
D/E 0.05 · 0% dilution
Lead: Phase 1/Phase 2
1 candidate
No upcoming catalysts tracked
0 buys · 2 sells (180d)
Runway
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
3
Total value held
$125K
| Holder | Shares | Value |
|---|---|---|
| citadel advisors llc | 39,018 | $71K |
| geode capital management, llc | 27,007 | $49K |
| morgan stanley | 2,697 | $5K |
Short Interest
as of Apr 30, 2026- % of float
- 8.3%
- Days to cover
- 0.9
- Shares short
- 52,565
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
INDP short interestGovernance
Frequently asked questions
What is the AI investment thesis for Indaptus Therapeutics, Inc.?
Indaptus Therapeutics, Inc. is a clinical-stage biotechnology company developing a patented, systemically-administered immunotherapy platform (Decoy) for anti-cancer and anti-viral applications. As of mid-2026, the company has discontinued all active clinical studies of its lead candidate Decoy20, substantially reduced development activities, and is evaluating strategic alternatives for its business and assets.
What is Indaptus Therapeutics, Inc.'s lead drug candidate?
Indaptus Therapeutics, Inc.'s most advanced tracked candidate is decoy20 (Phase 1/Phase 2) for Solid Tumor, Adult.
Who is the CEO of Indaptus Therapeutics, Inc.?
Mr. Junyi Dai is the chief executive officer of Indaptus Therapeutics, Inc. (INDP).
Where is Indaptus Therapeutics, Inc. headquartered?
Indaptus Therapeutics, Inc. (INDP) is headquartered in New York, NY, United States.
What therapeutic areas does Indaptus Therapeutics, Inc. focus on?
Indaptus Therapeutics, Inc. develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.