Indaptus Therapeutics (INDP) S-1 12 Feb 25 IPO registration Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2024
Entity Addresses [Line Items]
Document Type	S-1
Amendment Flag	false
Entity Registrant Name	INDAPTUS THERAPEUTICS, INC.
Entity Central Index Key	0001857044
Entity Tax Identification Number	86-3158720
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	3 Columbus Circle
Entity Address, Address Line Two	15th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
Country Region	+1
City Area Code	(646)
Local Phone Number	427-2727
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Document Creation Date	Feb. 12, 2025
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	3 Columbus Circle
Entity Address, Address Line Two	15th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
Country Region	+1
City Area Code	(646)
Local Phone Number	427-2727
Contact Personnel Name	Jeffrey A. Meckler

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 7,380,686	$ 13,362,053	$ 9,626,800
Marketable securities			16,806,009
Prepaid expenses and other current assets	248,737	633,156	811,433
Total current assets	7,629,423	13,995,209	27,244,242
Non-current assets:
Property and equipment, net		735	2,019
Right-of-use asset	105,655	173,206	79,294
Other assets	504,728	754,728	738,251
Total non-current assets	610,383	928,669	819,564
Total assets	8,239,806	14,923,878	28,063,806
Current liabilities:
Accounts payable and other current liabilities	2,128,491	2,672,327	3,352,847
Operating lease liability, current portion	103,982	101,705	80,494
Total current liabilities	2,232,473	2,774,032	3,433,341
Non-current liabilities:
Operating lease liability, net of current portion	4,007	73,348
Total non-current liabilities	4,007	73,348
Total liabilities	2,236,480	2,847,380	3,433,341
Commitments and contingencies (Note 7)
Stockholders’ equity:
Common stock: $0.01 par value, 200,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 10,196,884 shares issued and outstanding as of September 30, 2024 and 8,401,047 shares issued and outstanding as of December 31, 2023	101,969	84,011	84,011
Additional paid in capital	62,209,493	57,409,643	54,443,705
Accumulated deficit	(56,308,136)	(45,417,156)	(29,993,685)
Accumulated other comprehensive income			96,434
Total stockholders’ equity	6,003,326	12,076,498	24,630,465
Total liabilities and stockholders’ equity	$ 8,239,806	$ 14,923,878	$ 28,063,806

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000	200,000,000
Common stock, shares issued	10,196,884	8,401,047	8,401,047
Common stock, shares outstanding	10,196,884	8,401,047	8,401,047

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Operating expenses:
Research and development	$ 1,466,037	$ 2,226,688	$ 4,771,152	$ 5,587,073	$ 7,621,707	$ 6,324,657
General and administrative	1,676,020	2,021,724	6,423,029	6,611,767	8,756,767	8,586,249
Total operating expenses	3,142,057	4,248,412	11,194,181	12,198,840	16,378,474	14,910,906
Loss from operations	(3,142,057)	(4,248,412)	(11,194,181)	(12,198,840)	(16,378,474)	(14,910,906)
Other income, net	73,021	326,024	303,201	778,149	955,003	588,108
Net loss	$ (3,069,036)	$ (3,922,388)	$ (10,890,980)	$ (11,420,691)	$ (15,423,471)	$ (14,322,798)
Net loss available to common stockholders per share of common stock, basic	$ (0.32)	$ (0.47)	$ (1.23)	$ (1.36)	$ (1.83)	$ (1.73)
Net loss available to common stockholders per share of common stock, diluted	$ (0.32)	$ (0.47)	$ (1.23)	$ (1.36)	$ (1.83)	$ (1.73)
Weighted average number of shares used in calculating net loss per share, basic	9,510,447	8,401,047	8,832,630	8,401,047	8,401,047	8,262,119
Weighted average number of shares used in calculating net loss per share, diluted	9,510,447	8,401,047	8,832,630	8,401,047	8,401,047	8,262,119
Other comprehensive income (loss):
Reclassification adjustment for interest earned on marketable securities included in net loss		$ (140,567)		$ (430,993)	$ (430,993)	$ (110,002)
Change in unrealized gain on marketable securities		6,412		334,559	334,559	206,436
Comprehensive loss	$ (3,069,036)	$ (4,056,543)	$ (10,890,980)	$ (11,517,125)	$ (15,519,905)	$ (14,226,364)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Dec. 31, 2021	$ 82,586	$ 51,487,881	$ (15,670,887)		$ 35,899,580
Balance, shares at Dec. 31, 2021	8,258,597
Stock-based compensation		2,957,249			2,957,249
Issuance of shares of common stock and warrants, net of issuance costs	$ 1,425	(1,425)
Issuance of shares of common stock and warrants, net of issuance costs, shares	142,450
Reclassification adjustment for interest earned on marketable securities included in net loss				(110,002)	(110,002)
Change in unrealized gain on marketable securities				206,436	206,436
Net loss			(14,322,798)		(14,322,798)
Balance at Dec. 31, 2022	$ 84,011	54,443,705	(29,993,685)	96,434	24,630,465
Balance, shares at Dec. 31, 2022	8,401,047
Stock-based compensation		727,144			727,144
Reclassification adjustment for interest earned on marketable securities included in net loss				(129,229)	(129,229)
Change in unrealized gain on marketable securities				210,252	210,252
Net loss			(4,253,238)		(4,253,238)
Balance at Mar. 31, 2023	$ 84,011	55,170,849	(34,246,923)	177,457	21,185,394
Balance, shares at Mar. 31, 2023	8,401,047
Balance at Dec. 31, 2022	$ 84,011	54,443,705	(29,993,685)	96,434	24,630,465
Balance, shares at Dec. 31, 2022	8,401,047
Reclassification adjustment for interest earned on marketable securities included in net loss					(430,993)
Change in unrealized gain on marketable securities					334,559
Net loss					(11,420,691)
Balance at Sep. 30, 2023	$ 84,011	56,664,118	(41,414,376)		15,333,753
Balance, shares at Sep. 30, 2023	8,401,047
Balance at Dec. 31, 2022	$ 84,011	54,443,705	(29,993,685)	96,434	24,630,465
Balance, shares at Dec. 31, 2022	8,401,047
Stock-based compensation		2,965,938			2,965,938
Reclassification adjustment for interest earned on marketable securities included in net loss				(430,993)	(430,993)
Change in unrealized gain on marketable securities				334,559	334,559
Net loss			(15,423,471)		(15,423,471)
Balance at Dec. 31, 2023	$ 84,011	57,409,643	(45,417,156)		12,076,498
Balance, shares at Dec. 31, 2023	8,401,047
Balance at Mar. 31, 2023	$ 84,011	55,170,849	(34,246,923)	177,457	21,185,394
Balance, shares at Mar. 31, 2023	8,401,047
Stock-based compensation		728,466			728,466
Reclassification adjustment for interest earned on marketable securities included in net loss				(161,197)	(161,197)
Change in unrealized gain on marketable securities				117,895	117,895
Net loss			(3,245,065)		(3,245,065)
Balance at Jun. 30, 2023	$ 84,011	55,899,315	(37,491,988)	134,155	18,625,493
Balance, shares at Jun. 30, 2023	8,401,047
Stock-based compensation		764,803			764,803
Reclassification adjustment for interest earned on marketable securities included in net loss				(140,567)	(140,567)
Change in unrealized gain on marketable securities				6,412	6,412
Net loss			(3,922,388)		(3,922,388)
Balance at Sep. 30, 2023	$ 84,011	56,664,118	(41,414,376)		15,333,753
Balance, shares at Sep. 30, 2023	8,401,047
Balance at Dec. 31, 2023	$ 84,011	57,409,643	(45,417,156)		12,076,498
Balance, shares at Dec. 31, 2023	8,401,047
Stock-based compensation		774,691			774,691
Issuance of shares of common stock and warrants, net of issuance costs	$ 1,378	314,669			316,047
Issuance of shares of common stock and warrants, net of issuance costs, shares	137,836
Net loss			(3,806,677)		(3,806,677)
Balance at Mar. 31, 2024	$ 85,389	58,499,003	(49,223,833)		9,360,559
Balance, shares at Mar. 31, 2024	8,538,883
Balance at Dec. 31, 2023	$ 84,011	57,409,643	(45,417,156)		12,076,498
Balance, shares at Dec. 31, 2023	8,401,047
Reclassification adjustment for interest earned on marketable securities included in net loss
Change in unrealized gain on marketable securities
Net loss					(10,890,980)
Balance at Sep. 30, 2024	$ 101,969	62,209,493	(56,308,136)		6,003,326
Balance, shares at Sep. 30, 2024	10,196,884
Balance at Mar. 31, 2024	$ 85,389	58,499,003	(49,223,833)		9,360,559
Balance, shares at Mar. 31, 2024	8,538,883
Stock-based compensation		782,852			782,852
Issuance of shares of common stock and warrants, net of issuance costs	$ 142	37,922			38,064
Issuance of shares of common stock and warrants, net of issuance costs, shares	14,164
Net loss			(4,015,267)		(4,015,267)
Balance at Jun. 30, 2024	$ 85,531	59,319,777	(53,239,100)		6,166,208
Balance, shares at Jun. 30, 2024	8,553,047
Stock-based compensation		444,184			444,184
Issuance of shares of common stock and warrants, net of issuance costs	$ 16,438	2,445,532			2,461,970
Issuance of shares of common stock and warrants, net of issuance costs, shares	1,643,837
Reclassification adjustment for interest earned on marketable securities included in net loss
Change in unrealized gain on marketable securities
Net loss			(3,069,036)		(3,069,036)
Balance at Sep. 30, 2024	$ 101,969	$ 62,209,493	$ (56,308,136)		$ 6,003,326
Balance, shares at Sep. 30, 2024	10,196,884

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (10,890,980)	$ (11,420,691)	$ (15,423,471)	$ (14,322,798)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	735	964	1,284	1,781
Stock-based compensation	2,001,727	2,220,413	2,965,938	2,957,249
Realized gain on assets held for sale				(24,155)
Interest earned on marketable securities		(430,993)	(430,993)	(110,002)
Changes in operating assets and liabilities:
Prepaid expenses and other current and non- current assets	634,419	(84,568)	161,800	295,220
Accounts payable and other current liabilities	(673,829)	(1,088,785)	(680,520)	(1,154,829)
Other assets				(721,774)
Operating lease right-of-use asset and liability, net	487	290	647	961
Net cash used in operating activities	(8,927,441)	(10,803,370)	(13,405,315)	(13,078,347)
Cash flows from investing activities:
Proceeds received for assets held for sale				172,555
Purchase of marketable securities		(6,859,432)	(6,859,432)	(29,599,573)
Maturity of marketable securities		24,000,000	24,000,000	13,000,000
Net cash provided by investing activities		17,140,568	17,140,568	(16,427,018)
Cash flows from financing activities:
Proceeds from issuance of shares of common stock and warrants	3,375,590
Issuance costs	(429,516)
Net cash provided by financing activities	2,946,074
Net (decrease) increase in cash and cash equivalents	(5,981,367)	6,337,198	3,735,253	(29,505,365)
Cash and cash equivalents at beginning of period	13,362,053	9,626,800	9,626,800	39,132,165
Cash and cash equivalents at end of period	7,380,686	15,963,998	13,362,053	9,626,800
Noncash investing and financing activities
Transaction costs in accounts payable and other current liabilities	129,993
ASC 842 lease renewal option exercise		236,506	236,506
Issuance of initial commitment shares				1,425
Change in unrealized gain/loss on marketable securities		(96,434)	(96,434)	96,434
Change in unrealized gain/loss on marketable securities			(96,434)	96,434
Reclassification of security deposit		$ 16,477
Supplemental cash flow disclosures
Cash paid for income taxes			$ 1,600	$ 2,400

GENERAL

GENERAL	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1: GENERAL 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. Risks and uncertainties 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 operations (see below), competition from substitute products and services from larger companies, protection of proprietary technology, patent litigation, and dependence on key individuals. Going concern and management’s plans The Company has incurred net losses and utilized cash in operations since inception. For the nine-month period ended September 30, 2024, the Company incurred a net loss of approximately $ 10.9 56.3 8.9 2.5 0.5 As a result of these uncertainties, there is substantial doubt about the Company’s ability to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments to the carrying amounts and classifications of assets and liabilities that would result if the Company was unable to continue as a going concern.	NOTE 1: GENERAL 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. Risks and uncertainties 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 operations (see below), competition from substitute products and services from larger companies, protection of proprietary technology, patent litigation, and dependence on key individuals. Going concern and management’s plans The Company has incurred net losses and utilized cash in operations since inception. For the year ended December 31, 2023, the Company incurred a net loss of approximately $ 15.4 45.4 13.4 As a result of these uncertainties, there is substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments to the carrying amounts and classifications of assets and liabilities that would result if the Company was unable to continue as a going concern.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2: SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The unaudited interim condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and SEC Regulation S-X Article 10 for interim financial statements. Accordingly, they do not contain all the information and notes required by US GAAP for annual financial statements. In the opinion of management, these unaudited condensed consolidated interim financial statements reflect all adjustments, which include normal recurring adjustments, necessary for a fair statement of the Company’s consolidated financial position as of September 30, 2024, and the consolidated results of operations and comprehensive loss and changes in stockholders’ equity for the three- and nine-month periods ended September 30, 2024 and 2023 and cash flows for the nine-month periods ended September 30, 2024 and 2023. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as filed with the SEC on March 13, 2024. The condensed consolidated balance sheet data as of December 31, 2023, included in these unaudited condensed consolidated financial statements was derived from the audited financial statements for the year ended December 31, 2023, but does not include all disclosures required by US GAAP for annual financial statements. The results for the nine-month period ended September 30, 2024, are not necessarily indicative of the results expected for the year ending December 31, 2024. Principles of consolidation The unaudited condensed consolidated financial statements include the accounts of Indaptus Therapeutics, Inc. and its subsidiaries. Intercompany balances and transactions have been eliminated upon consolidation. Use of estimates The preparation of the unaudited condensed consolidated 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 adjusts when facts and circumstances dictate. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from those estimates. Loss per share Loss per share, basic and diluted, is computed on the basis of the net loss for the period divided by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share is based upon the weighted average number of shares of common stock and of common stock equivalents outstanding when dilutive. Common stock equivalents include outstanding stock options and warrants which are included under the treasury stock method when dilutive. The following number of stock options and warrants were excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive for the periods presented (share data): SCHEDULE OF ANTI-DILUTIVE SECURITIES Weighted average Three months ended Nine months ended September 30 September 30 2024 2023 2024 2023 Outstanding stock options 2,487,849 2,034,562 2,408,456 1,955,182 Warrants 4,048,188 3,090,787 3,409,921 3,090,787 Research and development expenses Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, share-based compensation expenses, payroll taxes and other employee benefits, subcontractors and materials used for research and development activities, including clinical trials and professional services. All costs associated with research and development are expensed as incurred. The Company accrues for expenses resulting from obligations under agreements with contract research organizations (“CROs”), contract manufacturing organizations (“CMOs”), and other outside service providers for which payment flows do not match the periods over which services or materials are provided to the Company. Accruals are recorded based on estimates of services received and efforts expended pursuant to agreements with CROs, CMOs, and other outside service providers. These estimates are typically based on contracted amounts applied to the proportion of work performed and determined through analysis with internal personnel and external service providers as to the progress or stage of completion of the services. In the event advance payments are made to a CRO, CMO, or outside service provider, the payments will be recorded as a prepaid expense, which will be amortized or expensed as the contracted services are performed. Recently issued accounting standards In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which sets forth improvements to the current segment disclosure requirements in accordance with Topic 280 “Segment Reporting,” including clarifying that entities with a single reportable segment are subject to both new and existing segment reporting requirements. ASU 2023-07 will be effective retrospectively for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024. Adoption of this ASU is currently being evaluated by the Company. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” ASU 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU 2023-09 is effective for public entities with annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.	NOTE 2: SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Principles of consolidation The consolidated financial statements include the accounts of Indaptus and its subsidiaries. Intercompany balances and transactions have been eliminated upon consolidation. Use of estimates 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. Loss per share Loss per share, basic and diluted, is computed on the basis of the net loss for the period divided by the weighted average number of common stock outstanding during the period. Diluted loss per share is based upon the weighted average number of common stock and of common stock equivalents outstanding when dilutive. Common stock equivalents include outstanding stock options and warrants which are included under the treasury stock method when dilutive. The following number of stock options and warrants were excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive for the periods presented (share data): SCHEDULE OF ANTI-DILUTIVE SECURITIES For the year ended December 31, 2023 2022 Outstanding stock options 1,979,196 1,600,830 Warrants 3,090,787 3,090,787 Cash and cash equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. As of December 31, 2023, and 2022, cash and cash equivalents consist primarily of checking and money market deposits. The Company’s cash balances exceed those that are federally insured; however, the Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held. To date, the Company has not recognized any losses caused by uninsured balances. Marketable securities The Company’s investments in marketable securities included U.S. treasury bonds that were classified as available-for-sale securities pursuant to Accounting Standards Codification (“ASC”) 320 “Investments — Debt Securities Property and equipment Property and equipment assets are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. The Company uses an estimated useful life of three years five years Patents The Company expenses patent costs, including related legal costs, as incurred and records such costs within general and administrative expense in the accompanying consolidated statements of operations. Research and development expenses Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, stock-based compensation expenses, payroll taxes and other employee benefits, subcontractors and materials used for research and development activities, including clinical trials and professional services. All costs associated with research and development are expensed as incurred. The Company accrues for expenses resulting from obligations under agreements with contract research organizations (“CROs”), contract manufacturing organizations (“CMOs”), and other outside service providers for which payment flows do not match the periods over which services or materials are provided to the Company. Accruals are recorded based on estimates of services received and efforts expended pursuant to agreements with CROs, CMOs, and other outside service providers. These estimates are typically based on contracted amounts applied to the proportion of work performed and determined through analysis with internal personnel and external service providers as to the progress or stage of completion of the services. In the event advance payments are made to a CRO, CMO, or other outside service provider, the payments will be recorded as a prepaid expense or other asset, which will be amortized or expensed as the contracted services are performed. General and administrative expenses General and administrative expenses include compensation, employee benefits, and stock-based compensation for executive management, finance administration and human resources, facility costs (including rent), professional service fees, and other general overhead costs, including depreciation, to support the Company’s operations. Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded for deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized in the foreseeable future. As of December 31, 2023, and 2022, the Company has recorded a full valuation allowance against its deferred tax assets. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses. Stock-based compensation The Company measures and records the expense related to stock-based payment awards based on the fair value of those awards as determined using the Black-Scholes-Merton (“Black-Scholes”) model as of the date of grant. The Company recognizes stock-based compensation expense over the requisite service period of the individual grant, generally equal to the vesting period, on a straight-line basis. The Black-Scholes model requires the use of highly subjective and complex assumptions, which determine the fair value of stock-based payment awards, including the option’s expected term and the price volatility of the underlying stock. The Company estimates the fair value of options granted by using the Black-Scholes model with the following assumptions: Expected Volatility Expected Term Risk-Free Interest Rate Dividend Yield The Company has elected to recognize forfeitures as they occur. Fair value measurements Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company follows the established framework for measuring fair value and providing disclosures about fair value measurements. The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace. Level 3: Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation. ASC 820, Fair Value Measurement The following financial assets are measured and recorded at fair value on the Company’s consolidated balance sheet as of December 31, 2022. As of December 31, 2023, there were no such assets on the Company’s consolidated balance sheet. SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE MEASUREMENT December 31, 2022 Total Level 1 Level 2 Level 3 Marketable securities $ 16,806,009 $ - $ 16,806,009 $ - Total $ 16,806,009 $ - $ 16,806,009 $ - Segment information Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker (“CODM”). The Company’s Chief Executive Officer is the CODM. The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. The Company currently operates in one business segment, which is biotechnology. The Company is not organized by market and is managed and operated as one business. Recently adopted accounting pronouncements On January 1, 2023, the Company adopted ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments . Recently issued accounting pronouncements In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

MARKETABLE SECURITIES

MARKETABLE SECURITIES	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	NOTE 3: MARKETABLE SECURITIES The Company’s investments in marketable securities included U.S. treasury bonds with maturities of less than one year. These investments were classified as available-for-sale and were recorded at fair value with unrealized gains and losses recorded in Accumulated Other Comprehensive Income (Loss). These investments were categorized as Level 2. As of December 31, 2023, the Company had no 16,806,009

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Prepaid Expenses And Other Current Assets
PREPAID EXPENSES AND OTHER CURRENT ASSETS	NOTE 3: PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets are comprised of the following: SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS September 30, December 31, 2024 2023 Prepaid insurance $ 16,653 $ 554,097 Prepaid research and development 12,144 17,309 Other prepaid expenses 219,940 61,750 Total prepaid expenses and other current assets $ 248,737 $ 633,156 Prepaid expenses and other current assets $ 248,737 $ 633,156	NOTE 4: PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets are comprised of the following: SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS For the year ended December 31, 2023 2022 Prepaid insurance $ 554,097 $ 610,208 Prepaid research and development 17,309 80,910 Other prepaid expenses 61,750 120,315 Total prepaid expenses and other current assets $ 633,156 $ 811,433 Prepaid expenses and other current assets $ 633,156 $ 811,433

ACCOUNTS PAYABLE AND OTHER CURR

ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES	NOTE 4: ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES Accounts payable and other current liabilities are comprised of the following: SCHEDULE OF ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES September 30, December 31, 2024 2023 Accounts payable $ 555,949 $ 806,004 Accrued employee costs 939,784 1,213,054 Accrued professional fees 71,025 39,165 Accrued research and development 421,534 439,024 Accrued board fees 117,750 117,750 Delaware franchise taxes payable - 40,000 Other accrued expenses 22,449 17,330 Total accounts payable and other current liabilities $ 2,128,491 $ 2,672,327	NOTE 5: ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES Accounts payable and other current liabilities are comprised of the following: SCHEDULE OF ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES For the year ended December 31, 2023 2022 Accounts payable $ 806,004 $ 1,378,316 Accrued employee costs 1,213,054 1,216,242 Accrued professional fees 39,165 172,356 Accrued research and development 439,024 311,036 Accrued board fees 117,750 116,000 Delaware franchise taxes payable 40,000 128,929 Other accrued expenses 17,330 29,968 Total accounts payable and other current liabilities $ 2,672,327 $ 3,352,847

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 5: STOCK-BASED COMPENSATION The Company has an equity incentive plan for grants to employees, officers, consultants, directors, and other service providers that was approved in 2021 (the “2021 Plan”). The 2021 Plan provides for the grant of non-qualified stock options, incentive stock options, restricted stock awards, restricted stock units, unrestricted stock awards, stock appreciation rights and other forms of stock-based compensation. The 2021 Plan permits the Company’s board to change the type, terms and conditions of awards as circumstances may change. This flexibility to adjust the type of compensation to be granted is particularly important given current economic and world events. A summary of the stock option activity during the nine months ended September 30, 2024, is presented in the table below: SCHEDULE OF STOCK OPTION ACTIVITY Weighted average Number of Exercise Remaining Intrinsic value Outstanding as of January 1, 2024 2,050,197 $ 10.90 7.9 $ 36,363 Granted 438,250 1.93 9.4 - Forfeited and cancelled (625 ) - - - Outstanding as of September 30, 2024 2,487,822 $ 9.20 7.5 $ - Exercisable as of September 30, 2024 1,796,747 $ 11.80 7.0 $ - Vested and expected to vest as of September 30, 2024 2,487,822 $ 9.20 7.5 $ - The following table summarizes the total stock-based compensation expense included in the condensed consolidated statements of operations for the periods presented: SCHEDULE OF STOCK BASED COMPENSATION EXPENSES 2024 2023 2024 2023 For the three months ended For the nine months ended 2024 2023 2024 2023 Research and development $ 108,447 200,624 547,927 586,854 General and administrative 335,737 564,179 1,453,800 1,633,559 Total stock-based compensation expense $ 444,184 764,803 2,001,727 2,220,413 As of September 30, 2024, total compensation cost not yet recognized related to unvested stock options was approximately $ 0.9 1.6 The Company estimates the fair value of stock options on the date of grant using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires estimates of highly subjective assumptions, which affect the fair value of each stock option. The weighted average inputs used to measure the value of the options granted during the nine months ended September 30, 2024 are presented in the table below. The weighted average fair value of stock options granted during the nine months ended September 30, 2024 was $ 1.67 SCHEDULE OF WEIGHTED AVERAGE INPUTS USED TO MEASURE VALUE OF OPTIONS GRANTED 2024 Exercise price $ 1.97 Expected term (in years) 5.8 Volatility 114.8 % Risk free rate 4.1 % Dividend yield 0 % The following table presents the exercise price of outstanding stock options as of September 30, 2024: SCHEDULE OF EXERCISE PRICE OF OUTSTANDING STOCK OPTIONS Exercise price Options $0.01 - $8.00 1,461,499 $ 0.01 8.00 1,461,499 $ 8.01 16.00 992,250 $ 16.00 34,073 Total 2,487,822	NOTE 6: STOCK-BASED COMPENSATION The Company has an equity incentive plan for grants to employees, officers, consultants, directors, and other service providers that was approved in 2021 (the “2021 Plan”). The maximum aggregate number of shares that may be issued pursuant to this 2021 Plan is 1,864,963 shares (the “Pool”); provided, however that the Pool will increase on January 1 of each calendar year beginning on January 1, 2022 and ending on and including January 1, 2024 (each, an “Evergreen Date”), in an amount equal to the lesser of (i) 3% of the total number of shares of common stock outstanding on the December 31st immediately preceding the applicable Evergreen Date and (ii) such lesser number of shares of common stock as determined to be appropriate by the Committee (as defined in the 2021 Plan) in its sole discretion. On January 1, 2022, January 1, 2023 and January 1, 2024 the Pool was increased by 247,758 252,031 252,031 1,864,963 The 2021 Plan provides for the grant of non-qualified stock options, incentive stock options, restricted stock awards, restricted stock units, unrestricted stock awards, stock appreciation rights and other forms of stock-based compensation. The 2021 Plan permits the Company’s board to change the type, terms and conditions of awards as circumstances may change. This flexibility to adjust the type of compensation to be granted is particularly important given current economic and world events. A summary of the stock option activity during the year ended December 31, 2023, is presented in the table below: SCHEDULE OF STOCK OPTION ACTIVITY Weighted average Number of Exercise Remaining Intrinsic value Outstanding as of January 1, 2023 1,672,873 $ 13.01 8.5 $ - Granted 425,750 $ 1.70 - $ - Forfeited and cancelled (48,426 ) $ 4.34 - $ - Outstanding as of December 31, 2023 2,050,197 $ 10.90 7.9 $ 36,363 Exercisable as of December 31, 2023 1,184,749 $ 15.59 7.4 $ - Vested and expected to vest as of December 31, 2023 2,050,197 $ 10.90 7.9 $ 36,363 The following table summarizes the total stock-based compensation expense included in the consolidated statements of operations for the periods presented: SCHEDULE OF STOCK BASED COMPENSATION EXPENSES 2023 2022 For the year ended December 31, 2023 2022 Research and development $ 792,273 $ 709,527 General and administrative 2,173,665 2,247,722 Total stock-based compensation expense $ 2,965,938 $ 2,957,249 As of December 31, 2023, total compensation cost not yet recognized related to unvested stock options was approximately $ 2.2 0.7 The Company estimates the fair value of stock options on the date of grant using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires estimates of highly subjective assumptions, which affect the fair value of each stock option. The weighted average inputs used to measure the value of the options granted during the years ended December 31, 2023 and 2022 are presented in the table below. The weighted average fair value of stock options issued during the years ended December 31, 2023 and 2022 was $ 1.43 3.27 SCHEDULE OF WEIGHTED AVERAGE INPUTS USED TO MEASURE VALUE OF OPTIONS GRANTED 2023 2022 Exercise price $ 1.70 $ 4.04 Expected term (in years) 5.8 5.8 Volatility 110.9 % 106.6 % Risk free rate 3.7 % 2.2 % Dividend yield 0.0 % 0.0 % The following table presents the exercise price of outstanding stock options as of December 31, 2023: SCHEDULE OF EXERCISE PRICE OF OUTSTANDING STOCK OPTIONS Exercise price Options $0.01 - $8.00 1,023,249 $ 0.01 8.00 1,023,249 $ 8.01 16.00 992,250 $ 16.01 34,698 Total 2,050,197

CAPITALIZATION

CAPITALIZATION	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Capitalization
CAPITALIZATION	NOTE 6: CAPITALIZATION a. As of September 30, 2024 and December 31, 2023, the Company had 200,000,000 10,196,884 8,401,047 4,734,624 3,090,787 8.75 3.1 b. On June 1, 2022, the Company entered into an At The Market Offering Agreement (the “ATM Agreement”) which was amended on September 1, 2022 with a sales agent, pursuant to which the Company may offer and sell, from time to time through the sales agent, shares of the Company’s common stock, par value $ 0.01 ATM Agreement In 2024, the Company sold 152,000 0.4 , 2024, the Company filed a prospectus supplement to reduce the amount of shares registered under the prospectus for the ATM to $ 0.00 c. On August 8, 2024, the Company completed a registered direct offering, pursuant to which the Company sold and issued to certain investors, including an officer of the Company, 1,643,837 1.825 1,643,837 1.70 five years 2.5 0.5	NOTE 7: CAPITALIZATION a. As of December 31, 2023 and December 31, 2022, the Company had 200,000,000 8,401,047 3,090,787 12.50 3.0 b. On June 1, 2022, the Company entered into an At The Market Offering Agreement (the “ATM Agreement”) which was amended on September 1, 2022 with H.C. Wainwright & Co., LLC, as sales agent (“Wainwright”), pursuant to which the Company may offer and sell, from time to time through Wainwright, shares of the Company’s common stock, par value $ 0.01 3.7 The issuance and sale of common stock by the Company under the ATM Agreement In March 2024, The Company sold 137,836 0.3 c. On December, 22, 2022, the Company entered into a purchase agreement (the “Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“Lincoln Park”), which provides that, upon the terms and subject to the conditions and limitations in the Purchase Agreement, Lincoln Park is committed to purchase up to an aggregate of $ 20.0 (i) issued to Lincoln Park 142,450 125,000 10,000,000 76,220 4,000,000 142,450 76,220 3,781,330

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 7: COMMITMENTS AND CONTINGENCIES Litigation From time to time, the Company could become involved in disputes and various litigation matters that arise in the normal course of business. These may include disputes and lawsuits related to intellectual property, licensing, contract law and employee relations matters. Periodically, the Company reviews the status of significant matters, if any exist, and assesses its potential financial exposure. If the potential loss from any claim or legal claim is considered probable and the amount of such potential loss can be estimated, the Company accrues liability for the estimated loss. Legal proceedings are subject to uncertainties, and the outcomes are difficult to predict. Because of such uncertainties, accruals are based on the best information available at the time. As additional information becomes available, the Company reassesses the potential liability related to pending claims and litigation. Leases Future minimum annual lease payments and a reconciliation to the Company’s operating lease liability under the Company’s noncancelable operating lease as of September 30, 2024 are as follows: SUMMARY OF MINIMUM LEASE PAYMENTS 2024 (remaining) $ 25,806 Year one $ 25,806 2025 (lease ends October 31, 2025) 86,862 Year two 86,862 Total minimum lease payments 112,668 Less: amount representing interest (4,679 ) Present value of operating lease liability 107,989 Less: current portion (103,982 ) Operating lease liability, net of current portion $ 4,007 The Company recognized rent expense of $ 76,385 75,280 25,462 75,899 74,148	NOTE 8: COMMITMENTS AND CONTINGENCIES Litigation On July 13, 2022, LTS Lohmann Therapie Systeme AG (“LTS”) filed a Request for Arbitration with the International Chamber of Commerce (“Request”), naming as respondent the Company’s subsidiary, Intec Pharma. The Request alleges that LTS is entitled to payment of Euro 2 1 1 On February 7, 2023, Intec Israel settled the dispute with LTS by paying Euro 800,000 860,000 345,000 365,000 From time to time, the Company could become involved in additional disputes and various litigation matters that arise in the normal course of business. These may include disputes and lawsuits related to intellectual property, licensing, contract law and employee relations matters. Periodically, the Company reviews the status of significant matters, if any exist, and assesses its potential financial exposure. If the potential loss from any claim or legal claim is considered probable and the amount of such potential loss can be estimated, the Company accrues a liability for the estimated loss. Legal proceedings are subject to uncertainties, and the outcomes are difficult to predict. Because of such uncertainties, accruals are based on the best information available at the time. As additional information becomes available, the Company reassesses the potential liability related to pending claims and litigation. Leases On October 1, 2021, the Company entered into a noncancelable two-year operating lease agreement for approximately 2,000 7,999 3 On April 19, 2023, the Company executed an amendment to the lease agreement to extend the lease through October 31, 2025. 236,506 9 Future minimum annual lease payments and a reconciliation to the Company’s operating lease liability under the Company’s noncancelable operating lease as of December 31, 2023 are as follows: SUMMARY OF MINIMUM LEASE PAYMENTS 2024 $ 101,705 2025 86,862 Total minimum lease payments 188,567 Less: amount representing interest (13,514 ) Present value of operating lease liability 175,053 Less: current portion (101,705 ) Operating lease liability, net of current portion $ 73,348 The Company recognized rent expense of $ 100,742 97,425 99,254 96,465

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 9: INCOME TAXES As of December 31, 2023, the Company had net operating loss carry forwards that may be available to reduce future years’ taxable income. The Company’s provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES For the year ended December 31, 2023 2022 Computed “expected” tax benefit $ (3,238,593 ) $ (3,007,284 ) State taxes, net of federal benefit 1,304 (8,797 ) Non-deductible items 61,842 86,955 Change in deferred tax asset valuation allowance 2,509,496 (1,351,029 ) Stock-based compensation 613,167 544,640 Return-to-provision adjustments 41,316 3,662,174 Other 13,918 73,371 Income tax expense $ 2,450 $ 30 Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, and (b) operating losses and tax credit carryforwards. The Company’s net deferred tax assets were comprised of the following as of December 31, 2023 and 2022: SCHEDULE OF NET DEFERRED TAX ASSETS 2023 2022 Deferred tax assets: Net operating losses $ 51,846,000 $ 50,244,447 Capitalized research and development 2,162,872 1,054,824 Stock-based compensation 261,052 234,350 Accruals 220,923 447,973 Operating lease liabilities 36,761 16,960 Other 559 451 Total gross deferred tax assets 54,528,167 51,999,005 Deferred tax liabilities: Right-of-use asset (36,373 ) (16,707 ) Gross deferred tax liabilities (36,373 ) (16,707 ) Less: Deferred tax asset valuation allowance (54,491,794 ) (51,982,298 ) Total net deferred tax assets $ - $ - Deferred income tax assets and liabilities are recorded for differences between the financial statement and tax basis of the assets and liabilities that will result in taxable or deductible amounts in the future based on enacted laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. ASC 740 requires that the tax benefit of net operating losses, temporary differences and credit carryforwards be recorded as an asset to the extent that management assesses that realization is “more likely than not.” Realization of the future tax benefits is dependent on the Company’s ability to generate sufficient taxable income within the carryforward periods. Because of the Company’s recent history of operating losses, management believes that recognition of the deferred tax assets arising from the above-mentioned future tax benefits is currently not likely to be realized and, accordingly, has provided a full valuation allowance for the years ended December 31, 2023 and 2022. The net change in total valuation allowance for the years ended December 31, 2023 and 2022 was an increase of $ 2.5 1.5 At December 31, 2023, the Company has United States federal and state net operating loss (NOL) carryforwards of $ 26.9 7.4 0.8 26.1 7.4 198.6 The Company’s ability to utilize its net operating losses may be limited under Section 382 and 383 of the Internal Revenue Code. The limitations apply if an ownership change, as defined by Section 382, occurs. Generally, an ownership change occurs when certain shareholders increase their aggregate ownership by more than 50 percentage points over their lowest ownership percentage in a testing period (typically three years). Although the Company has not undergone a Section 382 analysis, it is possible that the utilization of the net operating losses could be substantially limited. Additionally, U.S. tax laws limit the time during which these carryforwards may be utilized against future taxes. As a result, the Company may not be able to take full advantage of these carryforwards for federal and state tax purposes. Future changes in stock ownership may also trigger an ownership change and, consequently, a Section 382 limitation. The Company recognizes the benefit of tax positions taken or expected to be taken in its tax returns in the consolidated financial statements when it is more likely than not that the position will be sustained upon examination by authorities. Recognized tax positions are measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement. The Company records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses. As of December 31, 2023 and 2022, the Company recorded no The Company files U.S. federal and various state income tax returns and is subject to the examination for tax years back to 2020 and 2019 for federal and state purposes, respectively, and its NOL’s dating back to inception are subject to adjustment by the taxing authorities if claimed on future tax filings for which the statute remain open to examination. The Company also files Israeli tax returns and is subject to examination for tax years back to 2019. The Company is not currently under audit by the Internal Revenue Service or other similar national, state and local authorities.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8: SUBSEQUENT EVENTS The Company evaluated subsequent events from September 30, 2024, the date of these unaudited condensed consolidated financial statements, through November 12, 2024, which represents the date the condensed consolidated financial statements were issued, for events requiring recognition or disclosure in the condensed consolidated financial statements for the nine months ended September 30, 2024. The Company concluded that no events have occurred that would require recognition or disclosure in the condensed consolidated financial statements.	NOTE 10: SUBSEQUENT EVENTS The Company evaluated subsequent events from December 31, 2023, the date of these consolidated financial statements, through March 13, 2024, which represents the date the consolidated financial statements were issued, for events requiring recognition or disclosure in the consolidated financial statements for the year ended December 31, 2023. The Company concluded that no events have occurred that would require recognition or disclosure in the consolidated financial statements, except for the sale of 137,836 0.3 as described in Note 7(b).

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The unaudited interim condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and SEC Regulation S-X Article 10 for interim financial statements. Accordingly, they do not contain all the information and notes required by US GAAP for annual financial statements. In the opinion of management, these unaudited condensed consolidated interim financial statements reflect all adjustments, which include normal recurring adjustments, necessary for a fair statement of the Company’s consolidated financial position as of September 30, 2024, and the consolidated results of operations and comprehensive loss and changes in stockholders’ equity for the three- and nine-month periods ended September 30, 2024 and 2023 and cash flows for the nine-month periods ended September 30, 2024 and 2023. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as filed with the SEC on March 13, 2024. The condensed consolidated balance sheet data as of December 31, 2023, included in these unaudited condensed consolidated financial statements was derived from the audited financial statements for the year ended December 31, 2023, but does not include all disclosures required by US GAAP for annual financial statements. The results for the nine-month period ended September 30, 2024, are not necessarily indicative of the results expected for the year ending December 31, 2024.	Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”).
Principles of consolidation	Principles of consolidation The unaudited condensed consolidated financial statements include the accounts of Indaptus Therapeutics, Inc. and its subsidiaries. Intercompany balances and transactions have been eliminated upon consolidation.	Principles of consolidation The consolidated financial statements include the accounts of Indaptus and its subsidiaries. Intercompany balances and transactions have been eliminated upon consolidation.
Use of estimates	Use of estimates The preparation of the unaudited condensed consolidated 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 adjusts when facts and circumstances dictate. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from those estimates.	Use of estimates 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.
Loss per share	Loss per share Loss per share, basic and diluted, is computed on the basis of the net loss for the period divided by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share is based upon the weighted average number of shares of common stock and of common stock equivalents outstanding when dilutive. Common stock equivalents include outstanding stock options and warrants which are included under the treasury stock method when dilutive. The following number of stock options and warrants were excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive for the periods presented (share data): SCHEDULE OF ANTI-DILUTIVE SECURITIES Weighted average Three months ended Nine months ended September 30 September 30 2024 2023 2024 2023 Outstanding stock options 2,487,849 2,034,562 2,408,456 1,955,182 Warrants 4,048,188 3,090,787 3,409,921 3,090,787	Loss per share Loss per share, basic and diluted, is computed on the basis of the net loss for the period divided by the weighted average number of common stock outstanding during the period. Diluted loss per share is based upon the weighted average number of common stock and of common stock equivalents outstanding when dilutive. Common stock equivalents include outstanding stock options and warrants which are included under the treasury stock method when dilutive. The following number of stock options and warrants were excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive for the periods presented (share data): SCHEDULE OF ANTI-DILUTIVE SECURITIES For the year ended December 31, 2023 2022 Outstanding stock options 1,979,196 1,600,830 Warrants 3,090,787 3,090,787
Cash and cash equivalents		Cash and cash equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. As of December 31, 2023, and 2022, cash and cash equivalents consist primarily of checking and money market deposits. The Company’s cash balances exceed those that are federally insured; however, the Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held. To date, the Company has not recognized any losses caused by uninsured balances.
Marketable securities		Marketable securities The Company’s investments in marketable securities included U.S. treasury bonds that were classified as available-for-sale securities pursuant to Accounting Standards Codification (“ASC”) 320 “Investments — Debt Securities
Property and equipment		Property and equipment Property and equipment assets are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. The Company uses an estimated useful life of three years five years
Patents		Patents The Company expenses patent costs, including related legal costs, as incurred and records such costs within general and administrative expense in the accompanying consolidated statements of operations.
Research and development expenses	Research and development expenses Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, share-based compensation expenses, payroll taxes and other employee benefits, subcontractors and materials used for research and development activities, including clinical trials and professional services. All costs associated with research and development are expensed as incurred. The Company accrues for expenses resulting from obligations under agreements with contract research organizations (“CROs”), contract manufacturing organizations (“CMOs”), and other outside service providers for which payment flows do not match the periods over which services or materials are provided to the Company. Accruals are recorded based on estimates of services received and efforts expended pursuant to agreements with CROs, CMOs, and other outside service providers. These estimates are typically based on contracted amounts applied to the proportion of work performed and determined through analysis with internal personnel and external service providers as to the progress or stage of completion of the services. In the event advance payments are made to a CRO, CMO, or outside service provider, the payments will be recorded as a prepaid expense, which will be amortized or expensed as the contracted services are performed.	Research and development expenses Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, stock-based compensation expenses, payroll taxes and other employee benefits, subcontractors and materials used for research and development activities, including clinical trials and professional services. All costs associated with research and development are expensed as incurred. The Company accrues for expenses resulting from obligations under agreements with contract research organizations (“CROs”), contract manufacturing organizations (“CMOs”), and other outside service providers for which payment flows do not match the periods over which services or materials are provided to the Company. Accruals are recorded based on estimates of services received and efforts expended pursuant to agreements with CROs, CMOs, and other outside service providers. These estimates are typically based on contracted amounts applied to the proportion of work performed and determined through analysis with internal personnel and external service providers as to the progress or stage of completion of the services. In the event advance payments are made to a CRO, CMO, or other outside service provider, the payments will be recorded as a prepaid expense or other asset, which will be amortized or expensed as the contracted services are performed.
General and administrative expenses		General and administrative expenses General and administrative expenses include compensation, employee benefits, and stock-based compensation for executive management, finance administration and human resources, facility costs (including rent), professional service fees, and other general overhead costs, including depreciation, to support the Company’s operations.
Income taxes		Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded for deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized in the foreseeable future. As of December 31, 2023, and 2022, the Company has recorded a full valuation allowance against its deferred tax assets. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses.
Stock-based compensation		Stock-based compensation The Company measures and records the expense related to stock-based payment awards based on the fair value of those awards as determined using the Black-Scholes-Merton (“Black-Scholes”) model as of the date of grant. The Company recognizes stock-based compensation expense over the requisite service period of the individual grant, generally equal to the vesting period, on a straight-line basis. The Black-Scholes model requires the use of highly subjective and complex assumptions, which determine the fair value of stock-based payment awards, including the option’s expected term and the price volatility of the underlying stock. The Company estimates the fair value of options granted by using the Black-Scholes model with the following assumptions: Expected Volatility Expected Term Risk-Free Interest Rate Dividend Yield The Company has elected to recognize forfeitures as they occur.
Fair value measurements		Fair value measurements Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company follows the established framework for measuring fair value and providing disclosures about fair value measurements. The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace. Level 3: Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation. ASC 820, Fair Value Measurement The following financial assets are measured and recorded at fair value on the Company’s consolidated balance sheet as of December 31, 2022. As of December 31, 2023, there were no such assets on the Company’s consolidated balance sheet. SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE MEASUREMENT December 31, 2022 Total Level 1 Level 2 Level 3 Marketable securities $ 16,806,009 $ - $ 16,806,009 $ - Total $ 16,806,009 $ - $ 16,806,009 $ -
Segment information		Segment information Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker (“CODM”). The Company’s Chief Executive Officer is the CODM. The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. The Company currently operates in one business segment, which is biotechnology. The Company is not organized by market and is managed and operated as one business.
Recently adopted accounting pronouncements		Recently adopted accounting pronouncements On January 1, 2023, the Company adopted ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments .
Recently issued accounting standards	Recently issued accounting standards In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which sets forth improvements to the current segment disclosure requirements in accordance with Topic 280 “Segment Reporting,” including clarifying that entities with a single reportable segment are subject to both new and existing segment reporting requirements. ASU 2023-07 will be effective retrospectively for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024. Adoption of this ASU is currently being evaluated by the Company. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” ASU 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU 2023-09 is effective for public entities with annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.	Recently issued accounting pronouncements In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Accounting Policies [Abstract]
SCHEDULE OF ANTI-DILUTIVE SECURITIES	The following number of stock options and warrants were excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive for the periods presented (share data): SCHEDULE OF ANTI-DILUTIVE SECURITIES Weighted average Three months ended Nine months ended September 30 September 30 2024 2023 2024 2023 Outstanding stock options 2,487,849 2,034,562 2,408,456 1,955,182 Warrants 4,048,188 3,090,787 3,409,921 3,090,787	The following number of stock options and warrants were excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive for the periods presented (share data): SCHEDULE OF ANTI-DILUTIVE SECURITIES For the year ended December 31, 2023 2022 Outstanding stock options 1,979,196 1,600,830 Warrants 3,090,787 3,090,787
SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE MEASUREMENT		The following financial assets are measured and recorded at fair value on the Company’s consolidated balance sheet as of December 31, 2022. As of December 31, 2023, there were no such assets on the Company’s consolidated balance sheet. SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE MEASUREMENT December 31, 2022 Total Level 1 Level 2 Level 3 Marketable securities $ 16,806,009 $ - $ 16,806,009 $ - Total $ 16,806,009 $ - $ 16,806,009 $ -

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Prepaid Expenses And Other Current Assets
SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS	Prepaid expenses and other current assets are comprised of the following: SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS September 30, December 31, 2024 2023 Prepaid insurance $ 16,653 $ 554,097 Prepaid research and development 12,144 17,309 Other prepaid expenses 219,940 61,750 Total prepaid expenses and other current assets $ 248,737 $ 633,156 Prepaid expenses and other current assets $ 248,737 $ 633,156	Prepaid expenses and other current assets are comprised of the following: SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS For the year ended December 31, 2023 2022 Prepaid insurance $ 554,097 $ 610,208 Prepaid research and development 17,309 80,910 Other prepaid expenses 61,750 120,315 Total prepaid expenses and other current assets $ 633,156 $ 811,433 Prepaid expenses and other current assets $ 633,156 $ 811,433

ACCOUNTS PAYABLE AND OTHER CU_2

ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Payables and Accruals [Abstract]
SCHEDULE OF ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES	Accounts payable and other current liabilities are comprised of the following: SCHEDULE OF ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES September 30, December 31, 2024 2023 Accounts payable $ 555,949 $ 806,004 Accrued employee costs 939,784 1,213,054 Accrued professional fees 71,025 39,165 Accrued research and development 421,534 439,024 Accrued board fees 117,750 117,750 Delaware franchise taxes payable - 40,000 Other accrued expenses 22,449 17,330 Total accounts payable and other current liabilities $ 2,128,491 $ 2,672,327	Accounts payable and other current liabilities are comprised of the following: SCHEDULE OF ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES For the year ended December 31, 2023 2022 Accounts payable $ 806,004 $ 1,378,316 Accrued employee costs 1,213,054 1,216,242 Accrued professional fees 39,165 172,356 Accrued research and development 439,024 311,036 Accrued board fees 117,750 116,000 Delaware franchise taxes payable 40,000 128,929 Other accrued expenses 17,330 29,968 Total accounts payable and other current liabilities $ 2,672,327 $ 3,352,847

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
SCHEDULE OF STOCK OPTION ACTIVITY	A summary of the stock option activity during the nine months ended September 30, 2024, is presented in the table below: SCHEDULE OF STOCK OPTION ACTIVITY Weighted average Number of Exercise Remaining Intrinsic value Outstanding as of January 1, 2024 2,050,197 $ 10.90 7.9 $ 36,363 Granted 438,250 1.93 9.4 - Forfeited and cancelled (625 ) - - - Outstanding as of September 30, 2024 2,487,822 $ 9.20 7.5 $ - Exercisable as of September 30, 2024 1,796,747 $ 11.80 7.0 $ - Vested and expected to vest as of September 30, 2024 2,487,822 $ 9.20 7.5 $ -	A summary of the stock option activity during the year ended December 31, 2023, is presented in the table below: SCHEDULE OF STOCK OPTION ACTIVITY Weighted average Number of Exercise Remaining Intrinsic value Outstanding as of January 1, 2023 1,672,873 $ 13.01 8.5 $ - Granted 425,750 $ 1.70 - $ - Forfeited and cancelled (48,426 ) $ 4.34 - $ - Outstanding as of December 31, 2023 2,050,197 $ 10.90 7.9 $ 36,363 Exercisable as of December 31, 2023 1,184,749 $ 15.59 7.4 $ - Vested and expected to vest as of December 31, 2023 2,050,197 $ 10.90 7.9 $ 36,363
SCHEDULE OF STOCK BASED COMPENSATION EXPENSES	The following table summarizes the total stock-based compensation expense included in the condensed consolidated statements of operations for the periods presented: SCHEDULE OF STOCK BASED COMPENSATION EXPENSES 2024 2023 2024 2023 For the three months ended For the nine months ended 2024 2023 2024 2023 Research and development $ 108,447 200,624 547,927 586,854 General and administrative 335,737 564,179 1,453,800 1,633,559 Total stock-based compensation expense $ 444,184 764,803 2,001,727 2,220,413	SCHEDULE OF STOCK BASED COMPENSATION EXPENSES 2023 2022 For the year ended December 31, 2023 2022 Research and development $ 792,273 $ 709,527 General and administrative 2,173,665 2,247,722 Total stock-based compensation expense $ 2,965,938 $ 2,957,249
SCHEDULE OF WEIGHTED AVERAGE INPUTS USED TO MEASURE VALUE OF OPTIONS GRANTED	SCHEDULE OF WEIGHTED AVERAGE INPUTS USED TO MEASURE VALUE OF OPTIONS GRANTED 2024 Exercise price $ 1.97 Expected term (in years) 5.8 Volatility 114.8 % Risk free rate 4.1 % Dividend yield 0 %	SCHEDULE OF WEIGHTED AVERAGE INPUTS USED TO MEASURE VALUE OF OPTIONS GRANTED 2023 2022 Exercise price $ 1.70 $ 4.04 Expected term (in years) 5.8 5.8 Volatility 110.9 % 106.6 % Risk free rate 3.7 % 2.2 % Dividend yield 0.0 % 0.0 %
SCHEDULE OF EXERCISE PRICE OF OUTSTANDING STOCK OPTIONS	The following table presents the exercise price of outstanding stock options as of September 30, 2024: SCHEDULE OF EXERCISE PRICE OF OUTSTANDING STOCK OPTIONS Exercise price Options $0.01 - $8.00 1,461,499 $ 0.01 8.00 1,461,499 $ 8.01 16.00 992,250 $ 16.00 34,073 Total 2,487,822	The following table presents the exercise price of outstanding stock options as of December 31, 2023: SCHEDULE OF EXERCISE PRICE OF OUTSTANDING STOCK OPTIONS Exercise price Options $0.01 - $8.00 1,023,249 $ 0.01 8.00 1,023,249 $ 8.01 16.00 992,250 $ 16.01 34,698 Total 2,050,197

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
SUMMARY OF MINIMUM LEASE PAYMENTS	Future minimum annual lease payments and a reconciliation to the Company’s operating lease liability under the Company’s noncancelable operating lease as of September 30, 2024 are as follows: SUMMARY OF MINIMUM LEASE PAYMENTS 2024 (remaining) $ 25,806 Year one $ 25,806 2025 (lease ends October 31, 2025) 86,862 Year two 86,862 Total minimum lease payments 112,668 Less: amount representing interest (4,679 ) Present value of operating lease liability 107,989 Less: current portion (103,982 ) Operating lease liability, net of current portion $ 4,007	Future minimum annual lease payments and a reconciliation to the Company’s operating lease liability under the Company’s noncancelable operating lease as of December 31, 2023 are as follows: SUMMARY OF MINIMUM LEASE PAYMENTS 2024 $ 101,705 2025 86,862 Total minimum lease payments 188,567 Less: amount representing interest (13,514 ) Present value of operating lease liability 175,053 Less: current portion (101,705 ) Operating lease liability, net of current portion $ 73,348

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
SCHEDULE OF PROVISION FOR INCOME TAXES	The Company’s provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES For the year ended December 31, 2023 2022 Computed “expected” tax benefit $ (3,238,593 ) $ (3,007,284 ) State taxes, net of federal benefit 1,304 (8,797 ) Non-deductible items 61,842 86,955 Change in deferred tax asset valuation allowance 2,509,496 (1,351,029 ) Stock-based compensation 613,167 544,640 Return-to-provision adjustments 41,316 3,662,174 Other 13,918 73,371 Income tax expense $ 2,450 $ 30
SCHEDULE OF NET DEFERRED TAX ASSETS	The Company’s net deferred tax assets were comprised of the following as of December 31, 2023 and 2022: SCHEDULE OF NET DEFERRED TAX ASSETS 2023 2022 Deferred tax assets: Net operating losses $ 51,846,000 $ 50,244,447 Capitalized research and development 2,162,872 1,054,824 Stock-based compensation 261,052 234,350 Accruals 220,923 447,973 Operating lease liabilities 36,761 16,960 Other 559 451 Total gross deferred tax assets 54,528,167 51,999,005 Deferred tax liabilities: Right-of-use asset (36,373 ) (16,707 ) Gross deferred tax liabilities (36,373 ) (16,707 ) Less: Deferred tax asset valuation allowance (54,491,794 ) (51,982,298 ) Total net deferred tax assets $ - $ -

GENERAL (Details Narrative)

GENERAL (Details Narrative) - USD ($)		3 Months Ended						9 Months Ended		12 Months Ended
	Aug. 08, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss		$ 3,069,036	$ 4,015,267	$ 3,806,677	$ 3,922,388	$ 3,245,065	$ 4,253,238	$ 10,890,980	$ 11,420,691	$ 15,423,471	$ 14,322,798
Accumulated deficit		$ 56,308,136						56,308,136		45,417,156	29,993,685
Net cash used in operating activities								8,927,441	$ 10,803,370	$ 13,405,315	$ 13,078,347
Net of placement agent cost								$ 2,500,000
Other offering cost	$ 500,000

SCHEDULE OF ANTI-DILUTIVE SECUR

SCHEDULE OF ANTI-DILUTIVE SECURITIES (Details) - shares	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities					1,979,196	1,600,830
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	4,048,188	3,090,787	3,409,921	3,090,787	3,090,787	3,090,787
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	2,487,849	2,034,562	2,408,456	1,955,182

SCHEDULE OF ASSETS AND LIABILIT

SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE MEASUREMENT (Details)	Dec. 31, 2022 USD ($)
Platform Operator, Crypto Asset [Line Items]
Marketable securities	$ 16,806,009
Total	16,806,009
Fair Value, Inputs, Level 1 [Member]
Platform Operator, Crypto Asset [Line Items]
Marketable securities
Total
Fair Value, Inputs, Level 2 [Member]
Platform Operator, Crypto Asset [Line Items]
Marketable securities	16,806,009
Total	16,806,009
Fair Value, Inputs, Level 3 [Member]
Platform Operator, Crypto Asset [Line Items]
Marketable securities
Total

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - Property, Plant and Equipment [Member]	Dec. 31, 2023
Computers And Other Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Furniture [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years

MARKETABLE SECURITIES (Details

MARKETABLE SECURITIES (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Marketable securities		$ 16,806,009

SCHEDULE OF PREPAID EXPENSE AND

SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Prepaid Expenses And Other Current Assets
Prepaid insurance	$ 16,653	$ 554,097	$ 610,208
Prepaid research and development	12,144	17,309	80,910
Other prepaid expenses	219,940	61,750	120,315
Prepaid expenses and other current assets	$ 248,737	$ 633,156	$ 811,433

SCHEDULE OF ACCOUNTS PAYABLE AN

SCHEDULE OF ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accounts payable	$ 555,949	$ 806,004	$ 1,378,316
Accrued employee costs	939,784	1,213,054	1,216,242
Accrued professional fees	71,025	39,165	172,356
Accrued research and development	421,534	439,024	311,036
Accrued board fees	117,750	117,750	116,000
Delaware franchise taxes payable		40,000	128,929
Other accrued expenses	22,449	17,330	29,968
Total accounts payable and other current liabilities	$ 2,128,491	$ 2,672,327	$ 3,352,847

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Number of options, Outstanding	2,050,197	1,672,873
Weighted average, Exercise price, Outstanding	$ 10.90	$ 13.01
Weighted average, Remaining contractual life (in years), Outstanding	7 years 6 months	7 years 10 months 24 days	8 years 6 months
Intrinsic value, Outstanding	$ 36,363
Number of options, Outstanding, Granted	438,250	425,750
Weighted average, Exercise price, Granted	$ 1.93	$ 1.70
Number of options, Forfeited and cancelled		(48,426)
Weighted average exercise price, Forfeited and cancelled		$ 4.34
Number of options, Outstanding	2,487,822	2,050,197	1,672,873
Weighted average, Exercise price, Outstanding	$ 9.20	$ 10.90	$ 13.01
Intrinsic value, Outstanding		$ 36,363
Number of options, Exercisable	1,796,747	1,184,749
Weighted average, Exercise price, Exercisable	$ 11.80	$ 15.59
Weighted average, Remaining contractual life (in years), Exercisable	7 years	7 years 4 months 24 days
Intrinsic value, Exercisable
Number of options, Outstanding, Vested and expected to vest	2,487,822	2,050,197
Weighted average, Exercise price, Vested and expected to vest	$ 9.20	$ 10.90
Weighted average, Remaining contractual life (in years), Vested and expected to vest	7 years 6 months	7 years 10 months 24 days
Intrinsic value, Vested and expected to vest		$ 36,363
Weighted average, Remaining contractual life (in years), Granted	9 years 4 months 24 days
Intrinsic value, Granted
Number of options, Outstanding, Forfeited and cancelled	(625)
Weighted average, Exercise price, Forfeited and cancelled

SCHEDULE OF STOCK BASED COMPENS

SCHEDULE OF STOCK BASED COMPENSATION EXPENSES (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 444,184	$ 764,803	$ 2,001,727	$ 2,220,413	$ 2,965,938	$ 2,957,249
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	108,447	200,624	547,927	586,854	792,273	709,527
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 335,737	$ 564,179	$ 1,453,800	$ 1,633,559	$ 2,173,665	$ 2,247,722

SCHEDULE OF WEIGHTED AVERAGE IN

SCHEDULE OF WEIGHTED AVERAGE INPUTS USED TO MEASURE VALUE OF OPTIONS GRANTED (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Exercise price	$ 1.97	$ 1.70	$ 4.04
Expected term (in years)	5 years 9 months 18 days	5 years 9 months 18 days	5 years 9 months 18 days
Volatility	114.80%	110.90%	106.60%
Risk free rate	4.10%	3.70%	2.20%
Dividend yield	0%	0%	0%

SCHEDULE OF EXERCISE PRICE OF O

SCHEDULE OF EXERCISE PRICE OF OUTSTANDING STOCK OPTIONS (Details) - shares	Sep. 30, 2024	Dec. 31, 2023
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding	2,487,822	2,050,197
Exercise Price Range One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding	1,461,499	1,023,249
Exercise Price Range Two [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding	992,250	992,250
Exercise Price Range Three [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding	34,073	34,698

SCHEDULE OF EXERCISE PRICE OF_2

SCHEDULE OF EXERCISE PRICE OF OUTSTANDING STOCK OPTIONS (Details) (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Exercise Price Range One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range lower range limit	$ 0.01	$ 0.01
Exercise price range upper range limit	8	8
Exercise Price Range Two [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range lower range limit	8.01	8.01
Exercise price range upper range limit	16	16
Exercise Price Range Three [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range lower range limit	$ 16	$ 16.01

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details Narrative) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Jan. 01, 2024	Jan. 01, 2023	Dec. 31, 2022	Jan. 01, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation, not yet recognized	$ 0.9	$ 2.2
Share-based compensation, not yet recognized, term	1 year 7 months 6 days	8 months 12 days
Weighted average grant date fair value of options granted		$ 1.43			$ 3.27
Weighted average fair value of stock options issued	$ 1.67
Plan Two Thousand Twenty One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares available for grant,shares				252,031		247,758
Share based Compensation description		the Pool will increase on January 1 of each calendar year beginning on January 1, 2022 and ending on and including January 1, 2024 (each, an “Evergreen Date”), in an amount equal to the lesser of (i) 3% of the total number of shares of common stock outstanding on the December 31st immediately preceding the applicable Evergreen Date and (ii) such lesser number of shares of common stock as determined to be appropriate by the Committee (as defined in the 2021 Plan) in its sole discretion. On January 1, 2022, January 1, 2023 and January 1, 2024 the Pool was increased by 247,758 shares, 252,031 shares and 252,031 shares, respectively. In no event shall more than 1,864,963 shares be available for issuance for Incentive Stock Options (as defined in the 2021 Plan) under the 2021 Plan.
Plan Two Thousand Twenty One [Member] | Subsequent Event [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares available for grant,shares			252,031
Plan Two Thousand Twenty One [Member] | Employees Officers Consultants Directors [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares available for grant,shares		1,864,963

CAPITALIZATION (Details Narrati

CAPITALIZATION (Details Narrative) - USD ($)					1 Months Ended	2 Months Ended	3 Months Ended				9 Months Ended		12 Months Ended
	Aug. 08, 2024	Dec. 23, 2022	Dec. 22, 2022	Sep. 01, 2022	Mar. 31, 2024	Mar. 13, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Aug. 06, 2024
Common stock, shares authorized							200,000,000				200,000,000		200,000,000	200,000,000
Common stock, shares issued							10,196,884				10,196,884		8,401,047	8,401,047
Common stock, shares outstanding							10,196,884				10,196,884		8,401,047	8,401,047
Common stock, par value							$ 0.01				$ 0.01		$ 0.01	$ 0.01
Proceeds from issuance of common stock	$ 2,500,000										$ 3,375,590
Purchase ordinary shares							$ 2,461,970	$ 38,064	$ 316,047
Class of warrant or right, number of securities called by warrants or rights							4,734,624				4,734,624		3,090,787
Shares issued, price per share	$ 1.825
Noninterest expense offering cost	$ 500,000
Investor [Member]
Shares issued	1,643,837
Subsequent Event [Member]
Proceeds from issuance of common stock						$ 300,000
Shares issued						137,836
At The Market Offering Agreement [Member] | HC Wainwright and Co LLC [Member]
Common stock, par value				$ 0.01											$ 0
Proceeds from issuance of common stock				$ 3,700,000							$ 400,000
Shares issued											152,000
At The Market Offering Agreement [Member] | HC Wainwright and Co LLC [Member] | Subsequent Event [Member]
Proceeds from issuance of common stock					$ 300,000
Shares issued					137,836
Purchase Agreements [Member] | Lincoln Park Capital Fund L L C [Member]
Shares issued		142,450	142,450
Purchase ordinary shares			$ 20,000,000
Commitments shares description			(i) issued to Lincoln Park 142,450 shares of common stock, as the initial commitment shares, and (ii) will issue additional commitment shares, of common stock equal to $125,000 divided by the arithmetic average of the ten (10) Nasdaq Official Closing Prices (as defined in the Purchase Agreement) for the common stock immediately preceding the date that the Company has sold over $10,000,000 of shares to Lincoln Park, (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction) provided that the additional commitment shares number shall be no greater than 76,220. On December 23, 2022, the Company filed a Form S-1 covering the resale of up to 4,000,000 shares of common stock comprised of (i) 142,450 initial commitment shares, (ii) up to a maximum of 76,220 additional commitment shares, and (iii) up to 3,781,330 shares of common stock reserved for issuance and sale to Lincoln Park under the Purchase Agreement.
Additional commitment shares as dividend			$ 125,000
Sale of stock consideration received			$ 10,000,000
Commitment shares to be issued upon certain conditions		76,220	76,220
Number of resale common stock comprised			4,000,000
Purchase Agreements [Member] | Lincoln Park Capital Fund L L C [Member] | Maximum [Member]
Commitment shares to be issued upon certain conditions		3,781,330
Warrant [Member]
Weighted average exercise price							$ 8.75				$ 8.75		$ 12.50
Weighted average, remaining contractual life											3 years 1 month 6 days		3 years
Class of warrant or right, exercise price of warrants or rights	$ 1.70
Warrants and rights outstanding, term	5 years
Warrant [Member] | Private Placement [Member]
Class of warrant or right, number of securities called by warrants or rights	1,643,837
Warrant [Member]
Warrants outstanding to purchase							4,048,188			3,090,787	3,409,921	3,090,787	3,090,787	3,090,787

SUMMARY OF MINIMUM LEASE PAYMEN

SUMMARY OF MINIMUM LEASE PAYMENTS (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023	Apr. 19, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Year one	$ 25,806	$ 101,705
Year two	86,862	86,862
Total minimum lease payments	112,668	188,567
Less: amount representing interest	(4,679)	(13,514)
Present value of operating lease liability	107,989	175,053	$ 236,506
Less: current portion	(103,982)	(101,705)		$ (80,494)
Operating lease liability, net of current portion	$ 4,007	$ 73,348

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative)						3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 19, 2023 USD ($)	Feb. 07, 2023 USD ($)	Feb. 07, 2023 EUR (€)	Jul. 13, 2022 EUR (€)	Oct. 01, 2021 USD ($) ft²	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)
Product Liability Contingency [Line Items]
Operating lease, extend description	lease agreement to extend the lease through October 31, 2025.
Operating lease liability	$ 236,506					$ 107,989		$ 107,989		$ 175,053
Incremental borrowing rate	9%
Rent expense						$ 25,462	$ 25,462	76,385	$ 75,280	100,742	$ 97,425
Operating lease payments								$ 75,899	$ 74,148	$ 99,254	96,465
CALIFORNIA | Two Year Lease Agreement [Member]
Product Liability Contingency [Line Items]
Area of land | ft²					2,000
Base rent					$ 7,999
Rate of increase in lease rent					3%
Lohmann Therapie System A G [Member]
Product Liability Contingency [Line Items]
Payments for legal settlements | €				€ 2,000,000
Litigation settlement, expense		$ 860,000	€ 800,000								1,000,000	€ 1,000,000
Other income											$ 365,000	€ 345,000

SCHEDULE OF PROVISION FOR INCOM

SCHEDULE OF PROVISION FOR INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Computed “expected” tax benefit	$ (3,238,593)	$ (3,007,284)
State taxes, net of federal benefit	1,304	(8,797)
Non-deductible items	61,842	86,955
Change in deferred tax asset valuation allowance	2,509,496	(1,351,029)
Stock-based compensation	613,167	544,640
Return-to-provision adjustments	41,316	3,662,174
Other	13,918	73,371
Income tax expense	$ 2,450	$ 30

SCHEDULE OF NET DEFERRED TAX AS

SCHEDULE OF NET DEFERRED TAX ASSETS (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Net operating losses	$ 51,846,000	$ 50,244,447
Capitalized research and development	2,162,872	1,054,824
Stock-based compensation	261,052	234,350
Accruals	220,923	447,973
Operating lease liabilities	36,761	16,960
Other	559	451
Total gross deferred tax assets	54,528,167	51,999,005
Right-of-use asset	(36,373)	(16,707)
Gross deferred tax liabilities	(36,373)	(16,707)
Less: Deferred tax asset valuation allowance	(54,491,794)	(51,982,298)
Total net deferred tax assets

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation [Line Items]
Valuation allowance change amount	$ 2,500,000	$ 1,500,000
Income tax examination description	greater than 50% likely of being realized upon settlement.
Unrecognized tax benefits, income tax penalties and interest accrued	$ 0	$ 0
ISRAEL
Effective Income Tax Rate Reconciliation [Line Items]
Operating loss carryforwards	198,600,000
Federal [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating loss carryforwards	26,900,000
Federal [Member] | Expire In Two Thousand Thirty Six [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating loss carryforwards	800,000
Federal [Member] | Indefinite Period [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating loss carryforwards	26,100,000
State [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating loss carryforwards	7,400,000
State [Member] | Expire In Two Thousand Thirty Five [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating loss carryforwards	$ 7,400,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)		2 Months Ended	9 Months Ended
	Aug. 08, 2024	Mar. 13, 2024	Sep. 30, 2024	Sep. 30, 2023
Subsequent Event [Line Items]
Common stock gross proceeds	$ 2,500,000		$ 3,375,590
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares issued		137,836
Common stock gross proceeds		$ 300,000