Why Did Indaptus Therapeutics Plunge 28.89%?

On June 25, 2025, Indaptus experienced a significant drop of 28.89% in pre-market trading, marking a notable decline in its stock performance.

Indaptus Therapeutics has announced a reverse stock split, effective from June 27, 2025. This move aims to increase the company's per-share price to meet Nasdaq's continued listing requirements and potentially attract more investors. The common stock will trade on the Nasdaq Capital Market under a new CUSIP number, 45339J 204, following the split.

Indaptus Therapeutics has also completed a private placement of convertible notes and warrants, raising $2.3 million. This financial maneuver is part of the company's strategy to bolster its liquidity and support ongoing operations and development efforts.