share_log

Azitra | 10-Q: Q3 2024 Earnings Report

SEC ·  Nov 12, 2024 22:08

Summary by Futu AI

Azitra reported Q3 2024 financial results with a net loss of $1.0 million compared to $1.9 million in Q3 2023. Revenue was nil versus $310,700 in the prior year period, while operating expenses increased 27% to $2.9 million driven by clinical program advancement. Cash and equivalents stood at $7.3 million as of September 30, 2024.The company achieved significant clinical milestones, including dosing the first patient in August 2024 for its Phase 1b trial of ATR-12 in Netherton syndrome, with initial safety results expected in Q1 2025. Additionally, Azitra received FDA Fast Track designation for ATR-04 in September 2024 and plans to commence a Phase 1b trial for cancer patients undergoing EGFRi therapy in Q4 2024.Research and development expenses rose 85% to $1.0 million as the company advanced its clinical programs. Management noted substantial doubt about the company's ability to continue as a going concern, citing the need for additional capital to fund operations over the next 12 months. The company completed a follow-on offering in July 2024 raising $9.1 million through the sale of common stock and warrants.
Azitra reported Q3 2024 financial results with a net loss of $1.0 million compared to $1.9 million in Q3 2023. Revenue was nil versus $310,700 in the prior year period, while operating expenses increased 27% to $2.9 million driven by clinical program advancement. Cash and equivalents stood at $7.3 million as of September 30, 2024.The company achieved significant clinical milestones, including dosing the first patient in August 2024 for its Phase 1b trial of ATR-12 in Netherton syndrome, with initial safety results expected in Q1 2025. Additionally, Azitra received FDA Fast Track designation for ATR-04 in September 2024 and plans to commence a Phase 1b trial for cancer patients undergoing EGFRi therapy in Q4 2024.Research and development expenses rose 85% to $1.0 million as the company advanced its clinical programs. Management noted substantial doubt about the company's ability to continue as a going concern, citing the need for additional capital to fund operations over the next 12 months. The company completed a follow-on offering in July 2024 raising $9.1 million through the sale of common stock and warrants.

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.