Why did INDP's EPS remain flat in 2023?

The EPS of Indaptus Therapeutics (INDP) remained flat in 2023 due to a combination of factors related to the company's financial performance and strategic initiatives:

1. **Financial Performance**: In 2023, INDI reported a diluted EPS of -$0.81 for Q4, which indicates a loss for the period. The net income for the quarter was -$34.37 million. Such financial results suggest that the company may not have been profitable during the year, which could be a contributing factor to the flat EPS.

|code|Ticker|Name|Date|Diluted EPS YoY|Diluted EPS|market_code|
|---|---|---|---|---|---|---|
|INDI|INDI.O|indie Semiconductor|2023 Q1|-885.7142857142858|-0.55|186|
|INDI|INDI.O|indie Semiconductor|2023 Q2|-124.99999999999997|-0.09|186|
|INDI|INDI.O|indie Semiconductor|2023 Q3|61.29032258064516|-0.12|186|

2. **Strategic Initiatives**: Despite the financial losses, Indaptus Therapeutics has been actively pursuing strategic initiatives that could impact its future performance. For instance, the company has been focusing on its Phase 1 study of the lead compound, Decoy20, which has shown promising results in inducing immune responses. The company's CEO, Jeffrey Meckler, has expressed encouragement about the early results from the first cohort of patients in the INDP-D101 trial. These positive developments could be indicative of the company's potential for future growth and may be reflected in the company's long-term valuation rather than its current earnings.

In conclusion, the flat EPS of INDI in 2023 can be attributed to a combination of financial losses and strategic investments in research and development.