Azitra (AZTR) Q4 2025 earnings summary

Executive summary

• Initiated Phase 1/2 trial for ATR-04 targeting EGFRi-associated rash in oncology patients; first patient dosed in Q3 2025.

• Presented positive preclinical data for ATR-01 (ichthyosis vulgaris) and promising safety data for ATR-12 (Netherton Syndrome).

• Completed $8.5 million in financings through private placements, follow-ons, and equity line of credit.

Financial highlights

• R&D expenses were $4.8 million for 2025, up slightly from $4.7 million in 2024.

• G&A expenses were $6.2 million for 2025, down from $6.3 million in 2024.

• Net loss was $11.0 million for 2025, compared to $9.0 million in 2024.

• Cash and cash equivalents stood at $2.1 million as of December 31, 2025.

• Total assets were $5.0 million at year-end 2025, down from $7.4 million at year-end 2024.

Outlook and guidance

• Topline data for ATR-12 Phase 1b (Netherton Syndrome) and ATR-04 Phase 1/2 (EGFRi rash) expected in 2026.

• IND-enabling studies for ATR-01 to continue in 2026.

• Anticipates several key milestones in 2026 to drive shareholder value.