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BRANFORD, Conn. - Azitra, Inc. (NYSE American:AZTR), a clinical stage biopharmaceutical company focused on precision dermatology with a current market capitalization of $2.6 million, announced Friday it has received a notice of non-compliance with NYSE American’s continued listing standards. According to InvestingPro data, the company holds more cash than debt on its balance sheet, though it’s quickly burning through available funds.
The notice cites Section 1003(a)(ii) of the NYSE American Company Guide, which requires listed companies to maintain stockholders’ equity of at least $4 million if they have reported losses from continuing operations and/or net losses in three of their four most recent fiscal years. The company’s financial challenges are reflected in its stock performance, with shares down nearly 78% over the past year and currently trading at $0.79.
Azitra must submit a compliance plan to the Exchange by October 31, 2025, outlining actions it has taken or will take to regain compliance by April 1, 2027. The company stated it is assessing multiple funding avenues and is committed to undertaking transactions to achieve compliance.
The notice does not immediately affect the listing or trading of Azitra’s common stock on the Exchange, nor does it impact the company’s business operations or SEC reporting requirements.
Azitra’s lead program, ATR-12, is an engineered strain of S. epidermidis designed to treat Netherton syndrome, a rare chronic skin disease with no approved treatment options. The company is currently conducting a Phase 1b clinical trial in adult patients with this condition. InvestingPro analysis reveals the company’s overall financial health score is rated as WEAK, with analysts not anticipating profitability this year. Get access to 13 additional exclusive ProTips and comprehensive financial metrics with InvestingPro.
The company’s second advanced program, ATR-04, utilizes another engineered strain of S. epidermidis to treat EGFR inhibitor-associated rash, which affects approximately 150,000 people in the U.S. This program has received Fast Track designation from the FDA.
This information is based on a press release statement issued by the company.
In other recent news, Azitra, Inc. has commenced its Phase 1/2 clinical trial for ATR04-484, a topical live biotherapeutic product aimed at treating rashes associated with EGFR inhibitor cancer treatments. This treatment has received Fast Track designation from the FDA, underscoring the significant unmet medical need for the condition, which impacts around 150,000 people annually in the United States. Additionally, Azitra announced a 1-for-6.66 reverse stock split effective August 21, 2025, to adjust the trading basis of its common stock on the NYSE American. In another development, shareholders of Azitra approved an amendment to double the authorized number of common shares from 100,000,000 to 200,000,000. This decision was made during a reconvened annual meeting after the initial meeting was adjourned to allow more time for voting. The amendment saw a majority of votes in favor, with over one-third of outstanding shares represented, meeting the quorum requirements. These developments highlight significant corporate actions and strategic decisions by Azitra in its ongoing efforts.
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