2023 Q1 Form 10-K Financial Statement
#000149315223008010 Filed on March 17, 2023
Income Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $2.575M | $2.175M | $8.586M |
YoY Change | 22.34% | -4.34% | 64.93% |
% of Gross Profit | |||
Research & Development | $1.880M | $1.912M | $6.325M |
YoY Change | 44.93% | 102.39% | 150.67% |
% of Gross Profit | |||
Depreciation & Amortization | $321.00 | $320.00 | $1.781K |
YoY Change | -39.43% | -39.62% | 27.21% |
% of Gross Profit | |||
Operating Expenses | $4.455M | $4.087M | $14.91M |
YoY Change | 30.95% | 26.99% | 92.92% |
Operating Profit | -$4.455M | -$14.91M | |
YoY Change | 30.95% | 92.92% | |
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | $201.9K | $431.3K | $588.1K |
YoY Change | 446.93% | 3218.52% | |
Pretax Income | -$4.253M | -$3.656M | -$14.32M |
YoY Change | 26.39% | 13.66% | 85.74% |
Income Tax | $30.00 | ||
% Of Pretax Income | |||
Net Earnings | -$4.253M | -$3.656M | -$14.32M |
YoY Change | 26.39% | 13.66% | 85.74% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.51 | -$1.73 | |
Diluted Earnings Per Share | -$0.51 | -$0.44 | -$1.73 |
COMMON SHARES | |||
Basic Shares Outstanding | 8.401M shares | 8.259M shares | 8.262M shares |
Diluted Shares Outstanding | 8.401M shares | 8.262M shares |
Balance Sheet
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $21.68M | $26.43M | $26.43M |
YoY Change | -40.07% | -32.45% | -32.45% |
Cash & Equivalents | $6.805M | $9.627M | $9.627M |
Short-Term Investments | $14.88M | $16.81M | $16.81M |
Other Short-Term Assets | $451.7K | $811.4K | $811.4K |
YoY Change | -39.12% | -35.35% | -35.35% |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $22.15M | $27.24M | $27.24M |
YoY Change | -40.0% | -32.54% | -32.54% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $1.698K | $2.019K | $81.31K |
YoY Change | -98.87% | -46.87% | -52.97% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $754.7K | $738.3K | $738.3K |
YoY Change | 4479.66% | 4380.49% | 4379.67% |
Total Long-Term Assets | $992.9K | $819.6K | $819.6K |
YoY Change | 495.14% | 332.8% | 332.81% |
TOTAL ASSETS | |||
Total Short-Term Assets | $22.15M | $27.24M | $27.24M |
Total Long-Term Assets | $992.9K | $819.6K | $819.6K |
Total Assets | $23.14M | $28.06M | $28.06M |
YoY Change | -37.59% | -30.84% | -30.84% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $382.1K | $1.378M | $1.964M |
YoY Change | -86.52% | -47.75% | -56.42% |
Accrued Expenses | $1.440M | $80.49K | $1.469M |
YoY Change | 223.92% | -16.56% | 1422.85% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $1.822M | $3.433M | $3.433M |
YoY Change | -50.47% | -25.43% | -25.43% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $136.7K | $0.00 | $0.00 |
YoY Change | 170.53% | -100.0% | -100.0% |
Total Long-Term Liabilities | $136.7K | $0.00 | |
YoY Change | 170.52% | -100.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.822M | $3.433M | $3.433M |
Total Long-Term Liabilities | $136.7K | $0.00 | |
Total Liabilities | $1.959M | $3.433M | $3.433M |
YoY Change | -47.48% | -26.59% | -26.59% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$34.20M | -$30.00M | |
YoY Change | 91.44% | ||
Common Stock | $84.01K | $84.01K | |
YoY Change | 1.73% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $21.19M | $24.63M | $24.63M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $23.14M | $28.06M | $28.06M |
YoY Change | -37.59% | -30.84% | -30.84% |
Cashflow Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$4.253M | -$3.656M | -$14.32M |
YoY Change | 26.39% | 13.66% | 85.74% |
Depreciation, Depletion And Amortization | $321.00 | $320.00 | $1.781K |
YoY Change | -39.43% | -39.62% | 27.21% |
Cash From Operating Activities | -$4.962M | -$2.211M | -$13.08M |
YoY Change | 59.16% | -37.54% | 15.83% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | ||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $2.141M | $5.120M | -$16.43M |
YoY Change | -176.5% | 1033.64% | -3737.52% |
Cash From Investing Activities | $2.141M | $5.120M | -$16.43M |
YoY Change | -176.5% | 1033.64% | -3768.79% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | ||
YoY Change | -100.0% | ||
NET CHANGE | |||
Cash From Operating Activities | -$4.962M | -2.211M | -$13.08M |
Cash From Investing Activities | $2.141M | 5.120M | -$16.43M |
Cash From Financing Activities | 0.000 | ||
Net Change In Cash | -$2.822M | 2.909M | -$29.51M |
YoY Change | -206.73% | -178.69% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$4.962M | -$2.211M | -$13.08M |
Capital Expenditures | $0.00 | ||
Free Cash Flow | -$2.211M | -$13.08M | |
YoY Change | -37.54% | 15.87% |
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CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-14322798 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7711386 | usd |
CY2022 | INDP |
Reclassification Adjustment For Realized Gain On Available For Sale Securities Included In Net Loss
ReclassificationAdjustmentForRealizedGainOnAvailableForSaleSecuritiesIncludedInNetLoss
|
-110002 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
206436 | usd |
CY2022 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-14226364 | usd |
CY2021 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-7711386 | usd |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-237701 | usd |
CY2021 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1510258 | usd |
CY2021 | INDP |
Stock Issued During Period Value Conversion Of Safe Agreements
StockIssuedDuringPeriodValueConversionOfSafeAgreements
|
6417129 | usd |
CY2021 | INDP |
Stock Issued During Period Value Issuance Of Common Stock Upon Merger Netof Transaction Costs
StockIssuedDuringPeriodValueIssuanceOfCommonStockUponMergerNetofTransactionCosts
|
8264820 | usd |
CY2021 | INDP |
Stock Issued During Period Value Issuance Of Prefunded Warrantsand Warrants
StockIssuedDuringPeriodValueIssuanceOfPrefundedWarrantsandWarrants
|
27266129 | usd |
CY2021 | INDP |
Stock Issued During Period Value Excercise Of Prepaid Warrants
StockIssuedDuringPeriodValueExcerciseOfPrepaidWarrants
|
27273 | usd |
CY2021 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
363058 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7711386 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
35899580 | usd |
CY2022 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2957249 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-14322798 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
|
-110002 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
206436 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
24630465 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-14322798 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7711386 | usd |
CY2022 | us-gaap |
Depreciation
Depreciation
|
1781 | usd |
CY2021 | us-gaap |
Depreciation
Depreciation
|
1403 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2957249 | usd |
CY2021 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1510258 | usd |
CY2022 | us-gaap |
Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
|
24155 | usd |
CY2022 | us-gaap |
Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
|
110002 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-295220 | usd |
CY2021 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
837917 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-1154829 | usd |
CY2021 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-4236656 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
721774 | usd |
CY2021 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
16477 | usd |
CY2022 | INDP |
Increase Decrease In Operating Lease Right Of Use Asset And Liability Net
IncreaseDecreaseInOperatingLeaseRightOfUseAssetAndLiabilityNet
|
961 | usd |
CY2021 | INDP |
Increase Decrease In Operating Lease Right Of Use Asset And Liability Net
IncreaseDecreaseInOperatingLeaseRightOfUseAssetAndLiabilityNet
|
240 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-13078347 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-11290535 | usd |
CY2022 | us-gaap |
Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
|
172555 | usd |
CY2021 | us-gaap |
Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
|
451600 | usd |
CY2021 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
3854 | usd |
CY2022 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
29599573 | usd |
CY2022 | us-gaap |
Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
|
13000000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-16427018 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
447746 | usd |
CY2021 | INDP |
Proceeds From Merger
ProceedsFromMerger
|
16346622 | usd |
CY2021 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
665627 | usd |
CY2021 | INDP |
Proceeds From Issuanceof Pre Funded Warrantsand Warrants
ProceedsFromIssuanceofPreFundedWarrantsandWarrants
|
29972727 | usd |
CY2021 | us-gaap |
Payments For Repurchase Of Private Placement
PaymentsForRepurchaseOfPrivatePlacement
|
2706598 | usd |
CY2021 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
27273 | usd |
CY2021 | INDP |
Proceeds From Simple Agreementsfor Futrue Equity
ProceedsFromSimpleAgreementsforFutrueEquity
|
5000000 | usd |
CY2021 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
363058 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
48337455 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-29505365 | usd |
CY2021 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
37494666 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
39132165 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1637499 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
9626800 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
39132165 | usd |
CY2021 | INDP |
Conversion Of Preferred Stock
ConversionOfPreferredStock
|
8359 | usd |
CY2021 | INDP |
Conversion Of Simple Agreementsfor Futrue Equity
ConversionOfSimpleAgreementsforFutrueEquity
|
6417129 | usd |
CY2021 | us-gaap |
Liabilities Assumed1
LiabilitiesAssumed1
|
7616175 | usd |
CY2021 | INDP |
Initial Recognition Of Right Of Use Asset And Lease Liability Upon Lease Commencement
InitialRecognitionOfRightOfUseAssetAndLeaseLiabilityUponLeaseCommencement
|
183480 | usd |
CY2021 | INDP |
Reclass From Noncurrent Assets To Current Assets
ReclassFromNoncurrentAssetsToCurrentAssets
|
44445 | usd |
CY2021 | INDP |
Release Of Deposit Upon Closing Of Merger
ReleaseOfDepositUponClosingOfMerger
|
200000 | usd |
CY2022 | INDP |
Issuance Of Initial Commitment Shares
IssuanceOfInitialCommitmentShares
|
1425 | usd |
CY2022 | INDP |
Change In Unrealized Gain On Marketable Securities
ChangeInUnrealizedGainOnMarketableSecurities
|
96434 | usd |
CY2022 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
2400 | usd |
CY2021 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
800 | usd |
CY2022 | INDP |
Cash Received For Interest Earned On Deposits
CashReceivedForInterestEarnedOnDeposits
|
111018 | usd |
CY2021 | INDP |
Cash Received For Interest Earned On Deposits
CashReceivedForInterestEarnedOnDeposits
|
5141 | usd |
CY2022 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_800_eus-gaap--NatureOfOperations_zcd21MCbvmd7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1: <span id="xdx_82A_zDdoGyVQaLT">GENERAL</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indaptus Therapeutics, Inc. and its wholly-owned subsidiaries, Decoy Biosystems, Inc. and Intec Pharma Ltd., (collectively, the “Company”), is a biotechnology company dedicated to enhancing and expanding curative cancer immunotherapy for patients with unresectable or metastatic solid tumors and lymphomas, which are responsible for more than 90% of all cancer deaths. The Company is developing a novel, multi-targeted product that activates both innate and adaptive anti-tumor and anti-viral immune responses.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indaptus Therapeutics, Inc. (“Indaptus”), formerly “Intec Parent Inc.”, was established and incorporated in Delaware on February 24, 2021, as a private Delaware corporation and wholly-owned subsidiary of Intec Pharma Ltd., (“Intec Israel”), a former publicly traded company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 3, 2021, Indaptus completed its merger with Decoy Biosystems, Inc., (“Decoy”), following the satisfaction or waiver of the conditions set forth in the Agreement and Plan of Merger, dated as of March 15, 2021 among Indaptus, Decoy, Intec Israel, Domestication Merger Sub Ltd., an Israeli company and a wholly-owned subsidiary of Indaptus, and Dillon Merger Subsidiary Inc., a Delaware corporation and wholly-owned subsidiary of Indaptus (“the Merger Sub”), pursuant to which Merger Sub merged with and into Decoy, with Decoy surviving as a wholly-owned subsidiary of Indaptus (the “Merger”) and the business conducted by Decoy became the business conducted by Indaptus.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following completion of the Merger, shares of Indaptus common stock commenced trading at market open on August 4, 2021, on the Nasdaq Capital Market under the name “Indaptus Therapeutics, Inc.” and under the symbol “INDP”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the Merger, on July 23, 2021, Indaptus entered into a securities purchase agreement (the “Purchase Agreement”) with a certain institutional investor, pursuant to which Indaptus agreed to sell and issue, in a private placement (the “Private Placement”), pre-funded warrants and warrants for total net proceeds of approximately $<span id="xdx_90E_ecustom--ProceedsFromIssuanceOfPreFundedWarrantsGross_pn5n6_c20210722__20210723__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zMIL00ShkZnf" title="Total net proceeds from issuance of pre-funded warrants and warrants to purchase Indaptus common stock">27.3</span> million, after deducting the placement agent’s fees and other estimated offering expenses payable by Indaptus in the amount of approximately $<span id="xdx_906_ecustom--IssuanceExpenses_pn5n6_c20210722__20210723__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zd3SoOL7z907" title="Issuance expenses">2.7</span> million. In September 2021, the pre-funded warrant was fully exercised. Each warrant is exercisable at an exercise price of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20210723__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zJ5AhDjNV0ue" title="Warrant is exercisable price">11.00</span> per share and has a term of five and one-half years from the date of issuance. In addition, in connection with the Private Placement, Indaptus issued to the placement agent a warrant to purchase <span id="xdx_906_ecustom--NumberOfWarrantsIssuedToPlacementAgent_iI_c20210723__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zQXXRfGalrH1" title="Number of warrants issued to the placement agent">136,364</span> shares of Indaptus’ common stock at an exercise price of $<span id="xdx_90E_ecustom--ExercisePriceOfWarrantIssuedToPlacementAgent_iI_c20210723__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zG0gvRKaJwm8" title="Exercise price of warrant issued to the placement agent">13.75</span>.</span></p></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Risks and uncertainties</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is subject to a number of risks similar to those of other companies of similar size in its industry, including, but not limited to, the need for successful development of products, the need for additional capital or financing to fund operating losses (see below), competition from substitute products and services from larger companies, protection of proprietary technology, patent litigation, and dependence on key individuals.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The COVID-19 pandemic continues to affect the United States and global economies and may affect the Company’s operations and those of third parties on which the Company relies, including by causing disruptions in the supply of its product candidates and the conduct of current and future clinical trials. For example, the pandemic has caused its GMP process to take longer than expected. In addition, the COVID-19 pandemic may continue to affect the operations of the FDA and other health authorities, which could result in delays of reviews and approvals, including with respect to the Company’s product candidates. Additionally, related economic developments such as supply chain constraints and rising inflation and interest rates have negatively affected the global financial markets and may reduce the Company’s ability to access capital, which could negatively impact its short-term and long-term liquidity. The ultimate impact of the COVID-19 pandemic and economic downturn is highly uncertain and subject to change. While it is unknown how long these conditions will last and what the complete financial effect will be to the Company, capital raise efforts and additional development of its technologies may be negatively affected.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i/></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Going concern and management’s plans</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has incurred net losses and utilized cash in operations since inception, has an accumulated deficit as of December 31, 2022 of approximately $<span id="xdx_907_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20221231_zJoc8ZWypgQ8" title="Accumulated deficit">30.0</span> million, and expects to incur future additional losses as clinical testing and commercialization of the Company’s product candidates will require significant additional financing. The Company believes it has adequate cash and cash equivalents and marketable securities to fund its operations for at least one year after the date of issuance of these consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management plans to raise additional capital through equity and/or debt financings, or other capital sources, including potential collaborations, licenses, and other similar arrangements. However, these plans are not entirely within its control and cannot be assessed as being probable of occurring. The Company’s ability to raise additional capital may be adversely impacted by potential worsening of global economic conditions and the recent disruptions to, and volatility in, financial markets in the United States and worldwide resulting from the conflict between Russia and Ukraine and the ongoing COVID-19 pandemic. If the Company is unable to raise capital when needed or on attractive terms, it would be forced to delay, reduce, or eliminate its research and development programs or other operations. If any of these events occur, the Company’s ability to achieve the development and commercialization goals would be adversely affected.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These consolidated financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-30000000.0 | usd |
CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_846_eus-gaap--UseOfEstimates_zFpXu8qDjXf3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86D_z2KWfDYEtxVc">Use of estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting periods. The most significant estimates relate to the determination of the fair value of stock-based compensation and the determination of period-end obligations to certain contract research organizations. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
811433 | usd |
CY2021Q4 | us-gaap |
Assets Held For Sale Not Part Of Disposal Group Current
AssetsHeldForSaleNotPartOfDisposalGroupCurrent
|
600000 | usd |
CY2021 | us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
625000 | usd |
CY2022Q4 | INDP |
Prepaid Research And Development
PrepaidResearchAndDevelopment
|
80910 | usd |
CY2021Q4 | INDP |
Prepaid Research And Development
PrepaidResearchAndDevelopment
|
127643 | usd |
CY2021Q4 | us-gaap |
Other Receivables
OtherReceivables
|
21056 | usd |
CY2022Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
120315 | usd |
CY2021Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
12931 | usd |
CY2022Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
16806009 | usd |
CY2022Q4 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
16806009 | usd |
CY2022Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
16806009 | usd |
CY2022 | us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
96434 | usd |
CY2022Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
610208 | usd |
CY2021Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
945023 | usd |
CY2021Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1106653 | usd |
CY2022Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
1378316 | usd |
CY2021Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
2540091 | usd |
CY2022Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1216242 | usd |
CY2021Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1371136 | usd |
CY2022Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
172356 | usd |
CY2021Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
139871 | usd |
CY2022Q4 | INDP |
Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
|
311036 | usd |
CY2021Q4 | INDP |
Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
|
135751 | usd |
CY2022Q4 | INDP |
Accrued Board Fees Current
AccruedBoardFeesCurrent
|
116000 | usd |
CY2021Q4 | INDP |
Accrued Board Fees Current
AccruedBoardFeesCurrent
|
125333 | usd |
CY2022Q4 | INDP |
Delaware Franchise Taxes Payable Current
DelawareFranchiseTaxesPayableCurrent
|
128929 | usd |
CY2021Q4 | INDP |
Delaware Franchise Taxes Payable Current
DelawareFranchiseTaxesPayableCurrent
|
97715 | usd |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
29968 | usd |
CY2021Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
97779 | usd |
CY2022Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
3352847 | usd |
CY2021Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
4507676 | usd |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1174660 | shares |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
17.10 | |
CY2021 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P9Y1M6D | |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
241103 | usd |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
621450 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
4.04 | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
123237 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
6.72 | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1672873 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
13.01 | |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y6M | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
601361 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
24.45 | |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P7Y9M18D | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
1672873 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
13.01 | |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P8Y6M | |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2957249 | usd |
CY2021 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1510258 | usd |
CY2022Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
4600000 | usd |
CY2022 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y3M18D | |
CY2022Q4 | INDP |
Weighted Average Grant Date Fair Value Of Stock Options
WeightedAverageGrantDateFairValueOfStockOptions
|
3.27 | |
CY2021Q4 | INDP |
Weighted Average Grant Date Fair Value Of Stock Options
WeightedAverageGrantDateFairValueOfStockOptions
|
6.92 | |
CY2022Q4 | us-gaap |
Share Price
SharePrice
|
4.04 | |
CY2021Q4 | us-gaap |
Share Price
SharePrice
|
8.80 | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
|
4.04 | |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
|
8.80 | |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y9M29D | |
CY2021 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y8M23D | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.066 | pure |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.033 | pure |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.022 | pure |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.007 | pure |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.000 | pure |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.000 | pure |
CY2022Q4 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
|
1672873 | shares |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
82388 | usd |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
1894 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
80494 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
80494 | usd |
CY2022 | us-gaap |
Payments For Rent
PaymentsForRent
|
97425 | usd |
CY2021 | us-gaap |
Payments For Rent
PaymentsForRent
|
42226 | usd |
CY2022 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
96465 | usd |
CY2021 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
41986 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-3007284 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-1619223 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
-8797 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
44332 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
|
86955 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-1351029 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
1395737 | usd |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
|
544640 | usd |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
|
171727 | usd |
CY2022 | INDP |
Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount Return To Provision Adjustments
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmountReturnToProvisionAdjustments
|
3662174 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
73371 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
9077 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
30 | usd |
CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1650 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
|
447973 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
|
331855 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
234350 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
157196 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
|
451 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
|
373 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
|
1054824 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
|
1199792 | usd |
CY2022Q4 | INDP |
Deferred Tax Assets Net Operating Lease Liabilities
DeferredTaxAssetsNetOperatingLeaseLiabilities
|
16960 | usd |
CY2021Q4 | INDP |
Deferred Tax Assets Net Operating Lease Liabilities
DeferredTaxAssetsNetOperatingLeaseLiabilities
|
35559 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
50244447 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
51780342 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
51999005 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
53505117 | usd |
CY2022Q4 | INDP |
Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
|
16707 | usd |
CY2021Q4 | INDP |
Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
|
35508 | usd |
CY2022Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
16707 | usd |
CY2021Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
35508 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
51982298 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
53469609 | usd |
CY2022 | us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
5500000 | usd |
CY2022 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
1500000 | usd |
CY2021 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
51200000 | usd |
CY2022 | us-gaap |
Income Tax Examination Description
IncomeTaxExaminationDescription
|
greater than 50% likely of being realized upon settlement. | |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | usd |
CY2021Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | usd |