Summary by Moomoo AI
Azitra reported Q3 2024 financial results with a net loss of $1.0M, compared to $1.9M in Q3 2023. The company completed a follow-on offering raising $10M in gross proceeds and ended the quarter with $7.3M in cash. Revenue was nil compared to $310,700 in the prior year period, while R&D expenses increased to $1.0M from $0.5M.The company achieved significant clinical milestones, including dosing the first Netherton syndrome patient with ATR-12 and receiving FDA Fast Track designation for ATR-04 to treat EGFR inhibitor-related skin rash. The IND for ATR-04 was cleared by FDA, with first patient dosing expected in Q1 2025.Looking ahead, Azitra anticipates initial safety data from Netherton syndrome patients in Q1 2025 and topline data by year-end 2025. The company strengthened its intellectual property portfolio with newly granted patents while advancing its precision dermatology pipeline targeting rare skin conditions.
