AZITRA INC. NEW

Azitra has regained compliance with the continued listing standards of the NYSE American and will be removed from the list of non-compliant issuers. NYSE Regulation confirmed that previously disclosed deficiencies under Sections 1003(a)(ii) and 1003(a)(iii) have been remedied. Azitra remains subject to NYSE monitoring, and the exchange may consider stricter measures, including delisting, if further violations occur within 12 months. » More on de.investing.com

Azitra has entered a securities purchase agreement with healthcare investors that will initially bring the company about $10.5 million and could provide up to an additional $20.9 million through option exercises. The company will issue 10,470 non-redeemable Series A convertible preferred shares and Series B and C warrants with an exercise price of $0.123; each preferred share converts, subject to shareholder approval, into approximately 8,129 common shares. The proceeds are intended to finance the development of filaggrin protein and peptide technologies for the cosmetics market; closing is expected on Friday and is subject to customary conditions. Azitra is trading at $0.14 (down 94% year-over-year), has a market capitalization of $2.21 million and reported a negative free cash flow of $10.93 million over the last 12 months, but shows a current ratio of 2.83. » More on de.investing.com

The NYSE American notified Azitra of noncompliance with listing requirements under Section 1003(a)(iii); the company must demonstrate stockholders’ equity of at least $6.0 million. Azitra’s market capitalization is $2.91 million and the share trades at $0.17 (-92% over the past year). A previously submitted compliance plan was accepted; Azitra has until April 1, 2027 to meet the requirements, otherwise a delisting process may follow. The annual financial statements include a going-concern note; Azitra reported a loss per share of $2.25 and is exploring financing options while continuing development of the ATR-12 program. » More on de.investing.com