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Azitra, Inc. logo
AZTR$0.7901-5.53%

Azitra, Inc.

Sector: Pharmaceutical PreparationsIndustry: BiotechnologyCountry: USExchange: NYSE

Mkt Cap$4.79M
Float & O/S
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DilutionScan read 44 of Azitra, Inc.'s SEC filings and found 38 warrant series, 1 convertible, 1 ATM program, 1 equity line, 1 shelf registration, 6 S-1 registrations and 4 completed offerings on file for AZTR. The latest dilution event on file is ATM sales on Oct 26, 2026. Analysis updated Oct 26, 2026.

Signal8 Summary

AZTR

Going-concern warning, severe dilution risk

Business
WeakNo revenue, $11M annual loss, going-concern warning
Stock risk
High$8.4M micro-cap, fresh reverse split, 598% dilution overhang

Snapshot

Azitra is a pre-clinical/early-clinical dermatology biotech with essentially no revenue and an $11.0M net loss in FY 2025. It holds $6.7M in cash, and Signal8 models roughly 3.1 months of runway against ongoing burn.

What's Happening Right Now

  • : On October 26, 2026, Azitra reported ex vivo skin study results for its ATR-COSF cosmetic candidate showing reduced fine lines and better elasticity, with a first-in-human study planned and initial data expected by year end.
  • : Sold $126 of stock / 100 shares through its at-the-market program, as stated for Sep 28, 2026 to Oct 26, 2026.
  • : Azitra completed a 1-for-10 reverse stock split effective October 26, 2026, aimed at curing a low share-price listing issue on NYSE American.
  • : Azitra's Phase 1/2 trial of ATR-04 for EGFR inhibitor-associated skin rash cleared its safety review and advanced to Cohort 2, enrolling about 24 more patients.
  • : Azitra set up a $3.5 million at-the-market stock sale agreement on September 28, 2026, a filing that also disclosed the company paused its ATR-12 trial to preserve cash and that funds may not cover the next 12 months.
  • : Priced a block sale under its at-the-market program for $126 in gross proceeds (closing not yet reported in the filings reviewed).
  • : On August 21, 2026, Azitra regained compliance with NYSE American's continued listing standards, removing the exchange's noncompliance flag.
  • : Issued warrants over 4.24M shares.

Raise routes on file: active ATM + effective shelf + pending S-1 + effective S-1 + active equity line · latest dilution event 8 days ago

Overall Risk
Offering Ability
Overhead Supply
Historical
Cash Need

AI dilution summary

The dominant contractual driver and its mechanism, then each further driver ranked.

Latest dilution event

Oct 26, 2026 · ATM Sale

How we read filings

Every warrant, convertible, ATM and shelf, cited to the filing

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Share count and cash history

Shares outstanding, potential dilution and cash over time

S-1 · 6

What is this?

Size, shares registered and dates with Pro

S-1 · primary offering

Issued 2024

Completed

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

S-1 · resale registration

Issued 2025

Effective

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

S-1 · resale registration

Issued 2025

Effective

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

S-1 · primary offering

Issued 2025

Filed

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

S-1 · resale registration

Issued 2025

Effective

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

S-1 · resale registration

Issued 2026

Effective

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

Warrants · 38

What is this?

Exercise price, shares and dates with Pro

Warrant

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

2023 IPO underwriter (representative) warrants

Issued 2023

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

February 2024 placement agent warrants

Issued 2024

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Warrant

Issued 2024

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

July 2024 placement agent warrants

Issued 2024

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

January 2025 placement agent warrants

Issued 2025

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Convertibles · 1

What is this?

Principal, conversion terms and dates with Pro

Convertible

Converted

Principal

Conversion Price

Remaining principal
Shares on conversion
Interest rate
Maturity
Filing link and full terms

ATM · 1

What is this?

Capacity, sold to date and agent with Pro

ATM program

Issued 2026

Active

Total capacity

Sold to date

Remaining capacity
Sales agent
Agreement date
Commission
Filing link and full terms

Equity line · 1

What is this?

Commitment, pricing and sold to date with Pro

Equity line

Issued 2025

Active

Commitment

Sold to date

Remaining
Agreement date
Term ends
Discount
Filing link and full terms

Shelf · 1

What is this?

Capacity, dates and baby-shelf status with Pro

S-3 shelf registration

Issued 2024

Active

Total capacity

Remaining

Filed
Effective
Expires
Baby shelf
Filing link and full terms

Offerings · 4

What is this?

Proceeds, price, shares and agent with Pro

PIPE

Issued 2025

Gross proceeds

Price per share

Shares issued
Warrant coverage
Placement agent
Filing link and full terms

PIPE

Issued 2026

Gross proceeds

Price per share

Shares issued
Warrant coverage
Placement agent
Filing link and full terms

Offering

Gross proceeds

Price per share

Shares issued
Warrant coverage
Placement agent
Filing link and full terms

ATM block sale

Gross proceeds

Price per share

Shares issued
Warrant coverage
Placement agent
Filing link and full terms

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Exercise prices, conversion terms, shelf headroom and the filing sentence behind every number.

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