Azitra, Inc. Announces $1.5 Million Common Stock Public Offering Price

Azitra, Inc. Announces Public Offering of Common Stock

Azitra, Inc. (NYSE American: AZTR), a clinical-stage biopharmaceutical firm focused on innovative dermatological therapies, has revealed the pricing of its public offering for 4,857,780 shares of common stock. Each share is priced at $0.30, which would accrue gross proceeds of approximately $1.5 million before fees and expenses associated with the placement. The offering is anticipated to finalize on January 16, 2025, pending standard closing conditions. Proceeds from this offering will be utilized for working capital and other general corporate needs.

Offering Details

This public offering comes under an effective shelf registration statement on Form S-3 previously filed with the U.S. Securities and Exchange Commission (SEC). Azitra's offering will be made only through a prospectus that has already been filed with the SEC, and both a preliminary and final prospectus supplement will detail the terms of the offering. Investors can obtain these documents via the SEC's official website or directly by contacting Maxim Group LLC, which serves as the sole placement agent for this offering.

About Azitra, Inc.

Founded with an ambition to transform dermatological treatments, Azitra is advancing its lead candidate, ATR-12, which is engineered to address Netherton syndrome—a severe skin disease without any current approved therapies. This ambitious initiative places Azitra in a unique position as it tackles diseases that affect the quality of life for patients with limited treatment options.

ATR-12 is currently in a Phase 1b clinical trial, focusing on adult patients suffering from this chronic condition. Additionally, Azitra’s other significant project, ATR-04, aims to provide relief for individuals experiencing rash associated with EGFR inhibitors, a treatment that impacts an estimated 150,000 people in the U.S. Azitra has already received the Fast Track designation from the FDA for this treatment, reflecting the urgency and unmet need in this area.

Azitra harnesses an extensive proprietary platform comprising a microbial library of 1,500 bacterial strains, integrating artificial intelligence and machine learning technologies to optimize their therapeutic candidates. This innovative approach is a marker of Azitra's commitment to addressing complex dermatological challenges through scientific advancement.

Despite the promising trajectory, Azitra acknowledges potential risks associated with bringing new therapies to market, including trial outcomes, regulatory approvals, and competition. The company aims to stay Transparent through all phases of development, emphasizing its dedication to following through on clinical expectations.

In summary, the public offering is a strategic move for Azitra, ensuring they have the financial resources needed to pursue the development of their innovative therapeutic candidates and improving outcomes for patients suffering from challenging skin disorders. Stakeholders and potential investors can find further insights and updates from the company on their official website.

For more information, reach out to Azitra’s Chief Financial Officer or visit the SEC's website for details on the public offering documents.