Azitra Inc(US:AZTR)2024-11-13 01:22Financial Performance - The company reported $0 service revenue for Q3 2024, down from $310,700 in Q3 2023[2] - Research and Development (R&D) expenses increased to $1.0 million in Q3 2024 from $0.5 million in Q3 2023, a 100% increase[3] - General and Administrative (G&A) expenses rose to $1.9 million in Q3 2024 compared to $1.8 million in Q3 2023[3] - The net loss for Q3 2024 was $1.0 million, an improvement from a net loss of $1.9 million in Q3 2023[3] - As of September 30, 2024, cash and cash equivalents stood at $7.3 million, up from $1.8 million at the end of 2023[4] Corporate Developments - Azitra completed a follow-on offering generating $10 million in gross proceeds[1] - Azitra strengthened its intellectual property portfolio with newly granted and allowed patents during the quarter[1] Clinical Trials and Regulatory Updates - The company anticipates initial safety data from the Phase 1b trial for Netherton syndrome patients in Q1 2025[2] - Azitra plans to dose the first patient with ATR-04 for EGFRi rash in a Phase 1/2 trial in Q1 2025[2] - The company has received Fast Track designation from the FDA for ATR-04, which targets EGFRi associated rash affecting approximately 150,000 patients in the U.S.[6]