Mon, Feb 24, 1:14 PM (62 days ago)
**Summary of Azitra, Inc. (AZTR) 10-K Report for Fiscal Year Ended December 31, 2024** Azitra, Inc., a clinical biopharmaceutical company focused on precision dermatology, reported a net loss of $8.97 million for 2024, an improvement from $11.28 million in 2023. The company generated $7.5K in service revenue, down significantly from $686K, primarily due to reduced reimbursable costs under its Joint Development Agreement with Bayer. Operating expenses rose 35% to $10.99 million, driven by increased general and administrative costs, largely from public company expenses. Azitra's product candidates, including ATR-12 (for Netherton syndrome) and ATR-04 (for EGFRi-associated rash), are in early clinical stages. The company expects to report initial safety results for ATR-12 in 2025 and has received FDA Fast Track designation for ATR-04. As of December 31, 2024, total assets were approximately $7.36 million, with cash and equivalents at $4.55 million. The company anticipates needing additional financing to support its operations, as it has substantial ongoing losses and limited revenue. Risks include reliance on third-party manufacturers and potential delays in clinical trials, which could impact future revenues and market position. Azitra plans to leverage its proprietary microbial library and AI-driven technology to develop therapeutics, while maintaining strategic partnerships to enhance product development.