Indaptus Audit Committee Director Resigns 23 Days After Re-Election

Indaptus Therapeutics is a Nasdaq-listed biotechnology company that spent years developing Decoy20, an attenuated bacterial immunotherapy candidate tested in a Phase 1 oncology trial. By mid-2026, management had discontinued enrollment in that trial, wound down all active clinical programs, and pivoted to what it describes as evaluating "strategic alternatives," including acquisitions of operating businesses and a nascent research collaboration in neurological disorders and sleep. The company has no revenue and reported a net loss of approximately $1.8 million for the second quarter of 2026.

The past twelve months have been marked by extraordinary instability at the leadership level. A December 2025 preferred-stock transaction brought investor David Lazar and his designees into control of the board. A March 2026 sale of that preferred stake to five new purchasers for $11.2 million shifted control again. Co-CEO Jeffrey Meckler resigned on March 18, 2026; CFO Nir Sassi resigned April 1; COO Walt Linscott resigned June 1; and David Lazar himself resigned from the board on June 5. That tally excludes a wave of director departures beginning in December 2025.

Despite the tumult, the company's balance sheet improved materially in the second quarter after a $12.0 million private placement in June 2026 sold 20 million shares at $0.60 each. Cash, equivalents, and short-term investments stood at approximately $11.6 million as of June 30, 2026. On August 28, 2026, the company established an amended at-the-market offering facility with H.C. Wainwright, allowing up to $100 million in common stock sales.