Azitra Inc 2025年季度报告

☒QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2025 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Branford,CT06405(Address of principal executive offices and zip code) Large accelerated filer☐Accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Accounts receivable Accounts payable and accrued expensesOperating lease liability (77,926)Net cash used in operating activities(3,071,762)(3,020,008)Cash flows from investing activities: Net cash used in investing activities(21,686)Cash flows from financing activities Principal payments on finance leasesProceeds from public offerings, net Proceeds from exercise of stock options—Net cash provided by financing activities1,745,4394,306,255 Net change in cash and cash equivalents(1,348,009)Cash and cash equivalents at beginning of period4,554,719Cash and cash equivalents at end of period$3,206,710$ F-5The accompanying notes are an integral part of these unaudited condensed financial statements. 1.Organization and Nature of OperationsAzitra, Inc. (the "Company") was founded on January 2, 2014. It is a synthetic biology company focused on screening and genetically are then genomically sequenced and engineered to make cellular therapies, recombinant therapeutic proteins, peptides and smallmolecules for precision treatment of dermatology diseases. On May 17, 2023, the Company changed its name to from “Azitra Inc” to“Azitra, Inc.”In addition to our corporate headquarters located in Branford, Connecticut, the Company maintains a location in Montreal, Canada for Stock Splits, Change in Par Value, and Initial and Follow-on Public OfferingsIn June 2023, the Company completed its initial public offering (IPO) in which it issued and sold50,000shares of its common stock at commissions and other offering expenses.Immediately prior to the effectiveness of the Company’s registration statement, the Company effected a7.1-for-1 forward stock split(the "Forward Stock Split") of its issued and outstanding shares of common stock (the Forward Stock Split). On May 17, 2023, theCompany changed the par value of its capital stock from $0.01to $0.0001. Accordingly, all share and per share amounts for all periods At a special meeting of stockholders on February 20, 2025, our stockholders approved a further reverse split of our common stock at a As of the date of this filing, our Board is still evaluating the need for a further reverse split and, if needed, the exact split ratio based on our financing alternatives and NYSE American compliance considerations. Our financial statements will not reflect the further reverse stock split until such time as it occurs. In February 2024, the Company completed a follow-on public offering in which it issued and sold555,567shares of its common stockat a price to the public of $9.00per share. The net proceeds received by the Company from the follow-on public offering were $4.3million, after deducting underwriting discounts, commissions and other offering expenses. For further information regarding the "Reverse Stock Split") and began trading on a split-adjusted basis the same day. There was no change in par value. Accordingly, all share and per share amounts for all periods presented in the accompanying unaudited condensed financial statements and notes theretohave been adjusted retroactively, where applicable, to reflect the effect of the Reverse Stock Split. Refer to Note 6 for additionaldetails relating to the Reverse Stock Split.In July 2024, the Company completed a follow-on public offering in which it issued and sold6,665,000shares of its common stock at respectively.On January 14, 2025, the Company completed a follow-on offering in which it issued and sold4,857,780shares of its common stockat a price of $0.30per share. The net proceeds received by the Company from the follow-on offering were $1.2million, after On February 5, 2025, the Company completed a follow-on offering in which it issued2,495,518shares of its common stock at a publicoffering price of $0.28per share and warrants to purchase up to2,245,968shares of common stock at an exercise price of $0.54. The net proceeds received by the Company from the follow-on offering were $560,976after deducting placement agent's feesand other offering expenses. The shares were offered by the Company pursuant to a shelf registration statement on Form S-3 filed with Going Concern Matters The financial statements have been prepared on the going concern basis, which assumes that the Company will continue in operationfor the foreseeable future, and which contemplates the realization of assets