Azitra reported FY 2025 results with no revenue, as service revenue under the Bayer JDA ended due to a decrease in reimbursable development costs. Net loss attributable to common shareholders was USD 11.0 million (up 22.0%), reflecting operating expenses of USD 11.0 million, including general and administrative expense of USD 6.1 million (down 2.0%) and research and development expense of USD 4.8 million (up 2.0%). Net cash used in operating activities was USD 11.2 million in FY 2025, while cash and cash equivalents were USD 2.1 million at December 31, 2025; the company said cash on hand will not be sufficient to fund its plan of operations over the next 12 months and disclosed substantial doubt about its ability to continue as a going concern. On the business side, Azitra highlighted progress across its precision dermatology pipeline: ATR-12 (Netherton syndrome) began Phase 1b operating activities in December 2023, dosed its first patient in August 2024 and reported initial clinical safety results in H1 2025; ATR-04 (EGFR inhibitor-associated rash) received FDA IND clearance in August 2024, Fast Track designation in September 2024, and dosed the first patient in its Phase 1/2 trial in Q3 2025; and ATR-01 (ichthyosis vulgaris) is planned for lead optimization and IND-enabling studies in 2025 to support a potential IND filing in 2026. Azitra also noted NYSE American accepted its compliance plan related to stockholders’ equity, granting a plan period through April 1, 2027, and provided financing updates including a USD 20 million equity line of credit with Alumni Capital and gross proceeds of about USD 1.5 million from a November 2025 private placement.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Azitra Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001701478-26-000013), on February 27, 2026, and is solely responsible for the information contained therein.