Azitra Inc(US:AZTR)2025-02-24 13:20Financial Performance - Azitra reported a net loss of $8.97 million for the year ended December 31, 2024, compared to a net loss of $11.28 million for 2023, representing a 20.6% improvement[8]. - General and Administrative (G&A) expenses rose to $6.3 million in 2024, up from $4.5 million in 2023, marking a 40% increase[8]. - Cash and cash equivalents as of December 31, 2024, were $4.6 million, which does not include approximately $2.2 million from follow-on offerings in January and February 2025[8]. - The company closed public offerings totaling $15 million in 2024, enhancing its financial position[4]. - Azitra's total assets increased to $7.36 million as of December 31, 2024, compared to $5.12 million in 2023, indicating a 43.9% growth[17]. Research and Development - Research and Development (R&D) expenses increased to $4.7 million in 2024 from $3.6 million in 2023, reflecting a 30.6% rise[7]. - Azitra initiated a Phase 1b clinical trial for ATR-12 in adult Netherton syndrome patients in August 2024, with initial safety data expected in the first half of 2025[4]. - ATR-04, targeting EGFR inhibitor-associated rash, has a market opportunity exceeding $1 billion, with plans to initiate a Phase 1/2 clinical trial in the first half of 2025[3][6]. - The FDA granted Fast Track designation to ATR-04, highlighting the unmet need for treatment of EGFRi-associated skin rash[4]. - Azitra's intellectual property portfolio was strengthened with newly granted and allowed patents during the year[4].