Bullish indicating open at $55-$60, IPO prices at $37
NEW YORK - Indaptus Therapeutics, Inc. (NASDAQ:INDP), a biotech firm specializing in novel treatments for cancer and viral infections, has announced the approval of patents in China, Japan, and Israel for its Decoy platform. With a market capitalization of approximately $11 million, the company’s stock has faced challenges, declining over 66% in the past year. According to InvestingPro analysis, the stock appears fairly valued at current levels. The patents are for the use of Decoy bacteria compositions in the prevention and treatment of Hepatitis B virus (HBV) and human immunodeficiency virus (HIV).
Dr. Michael Newman, the company’s Founder and Chief Scientific Officer, stated that the international patent approvals underscore the potential of the Decoy platform in addressing chronic infectious diseases like HBV and HIV, which affect millions globally. While the company maintains a strong financial position with more cash than debt and a healthy current ratio of 3.42, InvestingPro data reveals that analysts don’t expect profitability this year. He emphasized the importance of these patents in supporting the novelty and therapeutic promise of Indaptus’s approach.
Chronic HBV is a significant health concern, particularly in Asia, with China accounting for nearly one-third of all cases worldwide. In 2022, HBV led to an estimated 1.1 million deaths, mainly from cirrhosis and liver cancer. Despite existing treatments, there is an urgent need for new therapies to improve long-term outcomes.
Indaptus’s Decoy platform consists of attenuated and killed bacteria designed to activate the immune system. Preclinical studies have shown that the platform’s patented candidates can produce significant activity against chronic HBV and HIV infections. One candidate, Decoy20, is currently in a Phase 1 clinical trial in the U.S. for patients with advanced cancers.
The company’s technology aims to activate both innate and adaptive immune cells and pathways with a multi-targeted package of immune system-activating signals that can be administered intravenously. The Decoy candidates have shown promise in preclinical studies against various cancers and in combination with other therapies, leading to tumor eradication and immunological memory.
This announcement is based on a press release statement from Indaptus Therapeutics. The company has evolved from over a century of immunotherapy advances and continues to strengthen its position as a leader in immunotherapy innovation, advancing treatments for infectious diseases and cancer. Analyst price targets range from $5 to $12 per share, suggesting significant potential upside. Discover more detailed financial metrics and 6 additional exclusive tips for INDP with InvestingPro.
In other recent news, Indaptus Therapeutics has expanded its U.S. clinical trial for Decoy20 to include Canadian sites, following authorization from Health Canada. This expansion aims to accelerate patient enrollment and enhance the research program focused on treating solid tumors. The INDP-D101 trial will now accept Canadian patients under the existing protocol, which involves weekly dosing of Decoy20. Indaptus plans to propose an amendment to include a combination trial of Decoy20 with tislelizumab, a PD-1 checkpoint inhibitor developed by Beigene (NASDAQ:ONC). Health Canada’s approval was granted after a thorough review of safety data and trial design. The inclusion of Canadian sites is expected to expedite the collection of clinical data from a broader population, which is crucial for assessing Decoy20’s potential to activate the immune system against solid tumors. Indaptus aims to refine Decoy20’s dosing regimen and improve patient outcomes through enhanced trial infrastructure. The company’s approach involves a patented technology that uses non-pathogenic, Gram-negative bacteria to produce a Decoy platform that primes immune cells and pathways. This expansion represents a significant step for Indaptus in evaluating Decoy20’s effectiveness in activating both innate and adaptive immune responses.
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