Indaptus Launches $100M At-the-Market Offering with H.C. Wainwright
INDP sits 24% above its 52-week low of $0.92 on light trading volume (0.1× avg).
Summary
Indaptus Therapeutics filed a prospectus supplement for a new $100M at-the-market offering through H.C. Wainwright, replacing its 2022 ATM agreement. At the assumed $1.14 price, the facility could add up to 87.7M shares — roughly 66% of current shares outstanding.
Key Events · Financing and Capital Events · INDP
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New $100M ATM Facility
Amended and restated at-the-market offering agreement with H.C. Wainwright dated August 28, 2026, replacing the original June 1, 2022 ATM agreement.
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Potential 66% Share Count Increase
At the assumed $1.14 offering price, up to 87,719,298 new shares could be issued — approximately 66% of the 133,242,324 shares currently outstanding.
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3.0% Placement Fee
Wainwright receives a 3.0% commission on gross sales proceeds, plus expense reimbursements capped at $50,000 initially and $5,000/$3,500 for quarterly/annual bringdowns.
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Going Concern and No Active Programs
The company has discontinued all Decoy20 clinical enrollment, has no active development programs, and carries a going-concern warning from its auditor — this ATM is a liquidity lifeline, not growth capital.
Analysis · INDP · Life Sciences
Indaptus has activated a $100 million at-the-market facility with H.C. Wainwright, replacing its 2022 ATM agreement. At the assumed $1.14 reference price, this could add up to 87.7 million shares — roughly 66% of the current 133.2 million outstanding — creating a substantial overhang on a stock already trading near its 52-week low. The company has no active clinical programs and a going-concern warning, so this facility is a survival mechanism: it gives management the ability to drip-feed equity into the market to fund working capital and strategic alternatives, but at the cost of significant dilution to existing holders.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 30.2% of the 2009 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.11%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, INDP was trading at $1.14 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $151.9M. The 52-week trading range was $0.92 to $8.57. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.