Indaptus Therapeutics (INDP) Q2 2026 earnings summary

Executive summary

• Discontinued all clinical development for Decoy20, reducing related R&D activities and shifting focus to strategic alternatives and new research collaborations, including in neurological disorders and sleep.

• Completed a $12 million private placement in June 2026, strengthening liquidity and supporting ongoing strategic review and research activities.

• Initiated a research collaboration with Kunming University of Science and Technology focused on neurological research and sleep as an extension of immunotherapy research.

• Appointed a new scientific consultant and experienced significant executive management changes, including the resignation of the Chief Scientific Officer.

Financial highlights

• Net loss for Q2 2026 was $1.8 million, a 66% improvement compared to $5.2 million in Q2 2025; six-month net loss was $4.3 million, down from $9.8 million year-over-year.

• Operating expenses for Q2 2026 decreased 59% year-over-year to $1.8 million, driven by an 83% reduction in R&D and a 37% reduction in G&A expenses.

• Basic and diluted net loss per share was $0.02 for Q2 2026 and $0.07 for the first half, compared to $9.09 and $18.09 in the prior year periods.

• Cash, cash equivalents, and short-term investments totaled $11.6 million as of June 30, 2026, with $7.6 million in cash and $4.0 million in certificates of deposit.

Outlook and guidance

• Management expects R&D and G&A expenses to decrease in the short term due to the discontinuation of Decoy20 clinical development and reduced headcount.

• Current liquidity is considered sufficient to fund operations through Q2 2027, but additional financing may be needed for future strategic initiatives.

• Future activities will depend on scientific validation, strategic fit, market opportunities, and available resources.