Indaptus Therapeutics Inc. reported research and development expenses of approximately $1.5 million for the third quarter ended September 30, 2025, an increase of $0.1 million from the same period in 2024. Net cash used in operating activities was $11.6 million for the first nine months of 2025, compared to $8.9 million for the same period in 2024. Net cash provided by financing activities for the nine months ended September 30, 2025, included a $5.7 million private placement of convertible notes and warrants in June and $2.3 million raised in September through an at-the-market facility. Loss per share was $3.0 for the third quarter of 2025, compared to $9.0 for the third quarter of 2024. As of September 30, 2025, cash and cash equivalents totaled $5.8 million. The company completed the Safety Lead-In cohort of its Phase 1 combination trial with Decoy20 and tislelizumab, dosing six evaluable participants, with three achieving stable disease at the first assessment. Indaptus expects current cash reserves to support operations into the first quarter of 2026.