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Azitra, Inc. Announces Q3 2024 Financial Results and Provides Business Updates
AZTRAzitra Inc(AZTR) Prnewswire·2024-11-12 22:05

Core Insights - Azitra, Inc. reported significant progress in Q3 2024, including the dosing of the first patient with ATR-12 for Netherton syndrome and the completion of a 10millionfollow−onoffering[2][3]−ThecompanyreceivedFDAFastTrackdesignationforATR−04,whichisaimedattreatingskinrashassociatedwithEGFRinhibitors[2][3]−Azitra′sfinancialresultsshowedanetlossof10 million follow-on offering [2][3] - The company received FDA Fast Track designation for ATR-04, which is aimed at treating skin rash associated with EGFR inhibitors [2][3] - Azitra's financial results showed a net loss of 1.0 million for the quarter, a decrease from a loss of 1.9millioninthesameperiodlastyear[3][9]BusinessHighlights−Completedafollow−onofferinggenerating1.9 million in the same period last year [3][9] Business Highlights - Completed a follow-on offering generating 10 million in gross proceeds [2] - Dosed the first patient with ATR-12 in the ongoing Netherton syndrome trial [2] - Submitted and received IND clearance for ATR-04 to treat skin rash from EGFR inhibitors [2] - Presented positive preclinical data for ATR-04 at the EADV Congress [2] - Strengthened the intellectual property portfolio with newly granted patents [2] Pipeline and Anticipated Milestones - Q1 2025: Initial safety data from Netherton syndrome patients in Phase 1b trial [3] - Q1 2025: First patient dosed with ATR-04 for EGFRi rash in Phase 1/2 trial [3] - YE 2025: Topline data from the Phase 1b trial with ATR-12 expected [3] Financial Results - Service revenue for Q3 2024 was 0,downfrom0, down from 310,700 in Q3 2023 [3][9] - R&D expenses increased to 1.0millionfrom1.0 million from 0.5 million year-over-year [3][9] - G&A expenses slightly increased to 1.9millionfrom1.9 million from 1.8 million year-over-year [3][9] - Cash and cash equivalents as of September 30, 2024, were $7.3 million [3][9]