0R15 9025.0 0.0% 0R1E 9410.0 0.0% 0M69 None None% 0R2V 247.99 9682.643% 0QYR 1567.5 0.0% 0QYP 439.3701 -2.9016% 0RUK None None% 0RYA 1597.0 1.2682% 0RIH 195.55 0.0% 0RIH 191.4 -2.1222% 0R1O 225.5 9683.0803% 0R1O None None% 0QFP 10475.8496 107.8542% 0M2Z 252.573 0.2373% 0VSO 33.0 -7.3164% 0R1I None None% 0QZI 622.0 0.0% 0QZ0 220.0 0.0% 0NZF None None% 0YXG 222.05 -4.1318%
The Offer
Company Overview
Azitra Inc (NYSE America: AZTR) is a clinical biopharmaceutical company in the early stages, dedicated to advancing precision dermatology therapies using engineered proteins and topical live biotherapeutic products. Their proprietary platform comprises a diverse microbial library of around 1,500 bacterial strains, carefully screened to identify unique therapeutic properties. By integrating artificial intelligence and machine learning, the platform analyzes and predicts drug-like molecules within the strain library. AZTR's platform also incorporates licensed genetic engineering technology, enabling the transformation of previously challenging strains. Their primary focus is developing genetically engineered strains of Staphylococcus epidermidis for dermatologic therapies, capitalizing on the species' favorable characteristics for skin applications. Thus far, AZTR has identified over 60 bacterial species in their library with the potential to engineer living organisms or produce engineered proteins of significant therapeutic efficacy.
Key Highlights
Primary Offering and overview of net proceeds: The company has offered 2,400,000 shares in the IPO. The number of common stock shares to be outstanding after this offering is expected to be 12,957,134 shares. If the underwriters exercise their option to purchase additional shares in full, the total number of outstanding shares will be 13,317,134. An over-allotment option has been granted to the underwriters, allowing them to purchase up to an additional 360,000 shares of common stock at the initial public offering price, minus the underwriting discount. This option can be exercised within 45 days of the date of this prospectus to cover any over-allotments, if necessary. From the sale of common stock in this offering, the company estimates net proceeds of approximately USD 9.9 million. If the underwriters fully exercise their over-allotment option, the net proceeds will amount to approximately USD 11.6 million. These figures are based on an initial public offering price of USD 5.00 per share, which is the midpoint of the price range specified in the prospectus. The company plans to utilize the net proceeds, in addition to its existing cash and cash equivalents, for various purposes such as funding clinical trials, product development, research and development activities, clinical manufacturing, working capital, and general corporate purposes.
Use of proceeds:
The net proceeds from this offering, in addition to AZTR's existing cash and cash equivalents, will be allocated as follows:
Dividend policy: No cash dividends have been announced or paid out on common stock by AZTR, and no cash dividends on common stock are expected soon. The Board of AZTR will decide whether to pay dividends on the common stock in the future, if any, based on a number of variables, including profits, capital requirements, financial condition, and other relevant considerations. Currently, AZTR plans to keep all potential earnings to promote the growth and development of its company.
Financial Highlights (Expressed in USD):
Key Management Highlights
Risk Associated (High)
Investment in the IPO of “AZTR” is exposed to a variety of risks such as:
Conclusion
Azitra Inc. is a company that provides AI-powered solutions for the healthcare industry, dedicated to developing innovative therapies for precision dermatology using engineered proteins and topical live biotherapeutic products. Its lead candidate, ATR-12, is a genetically modified strain of Staphylococcus epidermidis aimed at treating Netherton syndrome, a rare and severe skin disease affecting approximately one in every 100,000 individuals. Phase 1a safety trial for ATR-12 has been completed, and a Phase 1b trial to assess safety and efficacy is currently underway.
The company is also working on two other product candidates, ATR-13 and ATR-14, targeting papulopustular rash and ichthyosis vulgaris, respectively.
Azitra Inc. has the potential to make a significant impact on the healthcare industry. The company's AI-powered solutions have the potential to improve patient care, reduce costs, and make healthcare more accessible. Further, the company has developed proprietary AI technology that is used to power its solutions and partnered with leading healthcare organizations to test and deploy its solutions.
However, there are also some risks associated with investing in Azitra Inc. First, the company is still in the early stages of development, and there is no guarantee that AZD-100 will be successful in clinical trials. Second, the company is facing competition from other companies that are developing similar drugs. Third, the market for cancer drugs is volatile.
Hence, given the financial performance of the company, increased revenue and net losses, use of proceeds, and associated risks “Azitra Inc (AZTR)” IPO seems “Attractive" at the IPO price.
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