Azitra, Inc. Announces Full Year 2024 Financial Results and Provides Business Updates

Core Insights - Azitra, Inc. is focused on developing innovative therapies for precision dermatology, with a therapeutic pipeline that includes engineered proteins delivered through topical live biotherapeutic products [3][10] - The company reported a net loss of $9.0 million for the year ended December 31, 2024, an improvement from a net loss of$11.3 million in 2023 [9][15] - Azitra's lead product, ATR-12, is in a Phase 1b clinical trial for Netherton syndrome, with initial safety data expected in the first half of 2025 and topline results by year-end 2025 [5][6] Financial Performance - Service revenue for the year ended December 31, 2024, was $0.8 thousand, compared to$0.7 million in 2023 [8] - Research and Development (R&D) expenses increased to $4.7 million in 2024 from$3.6 million in 2023 [8] - General and Administrative (G&A) expenses rose to $6.3 million in 2024 from$4.5 million in 2023 [9] Clinical Development - ATR-12 is designed to treat Netherton syndrome, a rare skin disease with no approved treatments, and has shown promising preclinical data [4][10] - ATR-04, another product candidate, targets EGFR inhibitor-associated rash, affecting approximately 150,000 patients annually in the U.S., representing a market opportunity exceeding $1 billion [3][7] - The FDA granted Fast Track designation to ATR-04, recognizing the unmet need for treatment of EGFRi-associated skin rash [5][13] Upcoming Milestones - Initial safety data for ATR-12 is anticipated in the first half of 2025, with topline data expected by year-end 2025 [6][8] - A Phase 1/2 clinical trial for ATR-04 is set to begin in the first half of 2025 [5][13] - Azitra aims to achieve multiple value-building milestones throughout 2025, positioning itself as a leader in developing transformative drugs for underserved dermatological conditions [3][4]