Azitra Inc(AZTR) - 2024 Q2 - Quarterly Results

Financial Performance - Azitra, Inc. reported service revenue of $7,500 for Q2 2024, a decrease of 95.6% compared to $172,000 in Q2 2023[5] - Research and Development (R&D) expenses increased to $1.1 million in Q2 2024, up from $0.8 million in the same period last year, representing a 37.5% increase[5] - General and Administrative (G&A) expenses rose to $1.5 million in Q2 2024, compared to $0.8 million in Q2 2023, marking an increase of 87.5%[5] - The net loss for Q2 2024 was $2.6 million, a significant improvement from a net loss of $5.1 million in Q2 2023, reflecting a 49.0% reduction[5] - As of June 30, 2024, cash and cash equivalents stood at $0.8 million, down from $1.8 million at the end of Q2 2023[5] Funding and Financial Strategy - Azitra completed a follow-on offering of $10 million, expected to provide cash runway into 2025[2] Clinical Development and Research - The company anticipates dosing the first Netherton syndrome patient with ATR-12 in Q3 2024 and filing an Investigational New Drug (IND) application for ATR-04[2][4] - Initial safety data from the ATR-12 Phase 1b trial is expected to be reported by year-end 2024[3][4] - Azitra's collaboration with Bayer is ongoing, with an update on the license agreement expected by year-end 2024[4] - The company aims to report topline data from the ATR-12 Phase 1b trial by mid-2025, which is crucial for demonstrating biological proof of concept[3]