Azitra Inc Stock Price, News & Analysis

Azitra, Inc. (NYSE American: AZTR), a clinical-stage biopharmaceutical company focused on precision dermatology, has successfully closed its $10.0 million public offering. The offering included 6,665,000 shares of common stock and Class A warrants to purchase up to 13,330,000 shares at a combined price of $1.50 per share and accompanying warrants.

The Class A warrants have an initial exercise price of $1.50 per share, are immediately exercisable, and will expire after five years. Maxim Group acted as the exclusive placement agent. Azitra plans to use the net proceeds for working capital and general corporate purposes. The offering was made pursuant to an effective SEC registration statement, with a final prospectus available on the SEC's website.

Azitra, Inc. (NYSE American: AZTR), a clinical-stage biopharmaceutical company focused on precision dermatology, has announced the pricing of a $10.0 million public offering. The offering includes 6,665,000 shares of common stock and Class A warrants to purchase up to 13,330,000 shares at a combined price of $1.50 per share and accompanying warrants. The warrants will have an initial exercise price of $1.50 per share, be immediately exercisable, and expire after five years. The offering is expected to close around July 25, 2024. Maxim Group is the exclusive placement agent. Azitra plans to use the net proceeds for working capital and general corporate purposes.

Azitra, Inc. (NYSE American: AZTR) has strengthened its global intellectual property portfolio with newly granted and allowed patents. The company received a U.S. patent for a filaggrin-secreting strain of Staphylococcus epidermidis to treat atopic dermatitis, along with additional patent allowances in the U.S., Canada, and China. These patents protect compositions and methods for treating inflammatory skin diseases using recombinant microorganisms.

The newly issued U.S. patent addresses atopic dermatitis, which affects approximately 16.5 million people in the United States. Azitra is developing live biotherapeutic product candidates for various skin diseases, focusing on precision dermatology. The company's approach involves delivering missing proteins, such as filaggrin, to the skin using engineered bacteria.

Azitra's patent portfolio now includes 4 granted U.S. patents, 14 granted international patents, and numerous pending applications, strengthening its position in the field of precision dermatology.

Azitra, a clinical-stage biopharmaceutical company, announced a reverse stock split of its common stock at a 1-for-30 ratio.

This change will be effective on July 1, 2024, when the stock will begin trading on a split-adjusted basis under the symbol AZTR. At a special stockholder meeting on June 27, 2024, the Board of Directors was granted the discretion to determine the split ratio, which was finalized at 1-for-30. The split will reduce the number of issued common shares from approximately 28.8 million to 960,155. No fractional shares will be issued; instead, stockholders will receive cash for any fractional shares based on the average closing prices of the common stock over the five days prior to the split.

The new CUSIP number for the split-adjusted shares will be 05479L 203. Stockholders with brokerage accounts will see automatic adjustments, and those holding certificated shares may choose to exchange certificates if desired.

Azitra, a clinical-stage biopharmaceutical company, will present at the 2024 BIO International Convention in San Diego. The presentation, scheduled for June 5 at 12:00 PM PDT, will be led by COO Travis Whitfill. Key updates will include progress on ATR-12 for Netherton syndrome and ATR-04 for EGFR inhibitor-induced dermal toxicity. The event runs from June 3-6, 2024.

Azitra (NYSE American: AZTR), a clinical-stage biopharmaceutical company, announced positive preclinical data for ATR-04, aimed at treating EGFR inhibitor-induced dermal toxicity. This condition affects about 150,000 patients in the US. The data, presented at the Society of Investigative Dermatology 2024 Annual Meeting, showed ATR-04 reducing methicillin-resistant S. aureus (MRSA) by 99% in ex vivo pig skin and reducing the pro-inflammatory cytokine IL-36γ by 75% in treated human skin models. Additionally, ATR-04 increased human beta defensin 18-fold compared to the vehicle in human skin models. These results support an upcoming IND application to the FDA for a Phase 1b trial in patients undergoing EGFR inhibitors with dermal toxicity.

Azitra, Inc. announces positive preclinical data of ATR-12 and clinical design in Netherton Syndrome presented at the ASGCT Annual Meeting. ATR-12 inhibits key protease driving Netherton syndrome, delivers LEKTI more effectively than topical application, reduces pro-inflammatory cytokine IL-36g, is safe in minipigs, and shows promising results for a Phase 1b study. The study aims to evaluate safety, efficacy, and skin pharmacokinetics of ATR-12 in Netherton syndrome patients.

Azitra, Inc. (NYSE American: AZTR) reported financial results for Q1 2024, showcasing advancement in clinical trials and pre-IND meetings. The company strengthened its IP portfolio, completed a public offering, and progressed in partnership discussions. With a focus on dermatology treatments, Azitra aims to revolutionize severe skin condition treatments, delivering value to shareholders. Financially, the company saw an increase in R&D and G&A expenses, with a net loss of $2.9 million for Q1 2024.