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Indaptus Therapeutics, Inc. (NASDAQ:INDP) announced Wednesday that it has regained compliance with the Nasdaq Capital Market’s minimum bid price requirement. The company received notification from Nasdaq on July 14 that, for 10 consecutive business days from June 27 to July 11, the closing bid price of its common stock was at or above $1.00 per share.
The company had previously disclosed on January 31 that it was notified by Nasdaq of non-compliance with Listing Rule 5550(a)(2), which requires listed companies to maintain a minimum bid price of $1.00 per share. Indaptus was given 180 calendar days, until July 30, 2025, to regain compliance.
With the recent closing bid prices meeting the threshold for the required period, Nasdaq has confirmed that Indaptus is now in compliance with the rule and that the prior deficiency matter is considered closed.
This information is based on a press release statement filed with the Securities and Exchange Commission. Indaptus Therapeutics’ common stock continues to be listed on the Nasdaq Capital Market under the symbol INDP.
In other recent news, Indaptus Therapeutics, Inc. has raised a total of $5.7 million through the sale of convertible promissory notes and warrants. This funding will support research and development activities, including a planned Phase 1b/2 clinical trial, as well as general corporate purposes. Additionally, the company announced a 1-for-28 reverse stock split, effective soon, aimed at increasing its per share price to meet Nasdaq’s listing requirements and potentially attract institutional investors. This reverse stock split will reduce the outstanding shares from approximately 16 million to 572,000, while the number of authorized shares remains unchanged. Indaptus has also completed another transaction, selling $2.3 million in convertible notes, as part of an ongoing offering targeting up to $5 million. Paulson Investment Company, LLC served as the exclusive placement agent for these offerings. The notes bear a 6% annual interest rate and will mature in 2026, with conversion terms tied to the average Nasdaq closing price. These developments reflect Indaptus Therapeutics’ strategic efforts to secure funding and maintain compliance with market standards.
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