Azitra (AZTR) stock rocketed higher on Wednesday after the company announced an update to a Phase 1/2 clinical trial of ATR04-484. ATR04-484 is a topically applied live biotherapeutic product candidate designed to treat rashes connected to EGFR inhibitor (EGFRi) cancer treatments. The big news today is that the company has dosed the first patient in its clinical trial.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Azitra noted that it has Fast Track designation from the U.S. Food and Drug Administration (FDA) for ATR04-484. There’s also a large patient population that could benefit from the treatment, with roughly 150,000 people suffering from the rashes annually. The effects of this rash can hamper cancer treatment, even resulting in patients suspending or stopping treatment. This is why there’s a large demand for a product that treats these rashes.
Francisco Salva, CEO of Azitra, said, “Given the importance of EGFRi treatments across multiple cancers, there is a critical medical need to reduce the impact of the unique dermatologic toxicities that often accompany EGFRi treatments, often leading to interruption or discontinuation of the treatment. This trial is a first step in ATR04-484 potentially addressing this patient need and market opportunity.”
Azitra Stock Movement Today
Azitra stock was up 66.23% on Wednesday, following a 1.19% rally yesterday. However, the shares have fallen 73.22% year-to-date and 83.17% over the past 12 months. Today’s clinical trial news brought heavy trading to AZTR stock, as some 55 million shares changed hands, compared to a three-month daily average of about 1.43 million units.
Is Azitra Stock a Buy, Sell, or Hold?
Turning to Wall Street, analyst coverage of Azitra is thin. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates AZTR stock a Neutral (44) with no price target. It cites “weak financial performance and unfavorable technical indicators” as reasons for this stance.
