Azitra Inc (AZTR) AI Stock Analysis

• Market Cap: $2.56M
• Dividend Yield: N/A
• Average Volume (3M): 169.78K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.82
• Revenue Growth: -100.00%
• EPS Growth: 93.82%
• Country: US
• Employees: 12
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 1.15
• Shares Outstanding: 16,192,438
• 10 Day Avg. Volume: 152,326
• 30 Day Avg. Volume: 169,784
• PEG Ratio: >-0.01
• Price to Book (P/B): <0.01
• Price to Sales (P/S): 0.00
• P/FCF Ratio: >-0.01
• Enterprise Value/Market Cap: -805.91
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 6.15K
• Enterprise Value/Ebitda: 211.79
• 1Y Price Target: $1.00
• Price Target Upside: 233.33% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): -1.03
• Revenue Forecast (FY): N/A

• Rating: 39 Underperform
• Price Target: $0.16 ▼(-46.00% Downside)
• Action: Reiterated Date: 03/14/26
• Date: Action: Reiterated 03/14/26

The score is driven primarily by very weak financial performance (large losses, heavy cash burn, and severe 2025 deterioration) and a bearish technical setup (price below all key moving averages with negative MACD). Valuation provides limited support due to negative earnings and no dividend, and recent corporate events add meaningful listing and governance risk.

Positive Factors

Niche clinical focus

Azitra targets rare, high‑need dermatology indications with few approved therapies. Focusing on niche severe conditions concentrates clinical development, can shorten regulatory pathways and create durable commercial value per successful approval, supporting long‑term franchise potential.

Proprietary R&D platform

The AI‑driven microbial strain library and microbial engineering approach provide a scalable, platform‑level capability to generate multiple candidate strains. This can improve R&D efficiency, enable pipeline diversification, and form a technical moat that persists beyond single programs.

Modest reported leverage

Reported debt levels have been modest versus equity in recent periods, which supports solvency on paper and provides some creditor confidence. If management secures financing, the balance sheet posture is a stabilizing factor that can help sustain operations through late‑stage development.

Negative Factors

Severe cash burn

Persistent and sharply worsening negative operating and free cash flow creates acute funding and continuity risk. Large cash burn forces frequent financing, risks dilution, and can delay or halt development programs absent reliable non‑dilutive funding, undermining long‑term project delivery.

Revenue collapse and volatility

A small, volatile revenue base that fell to zero in 2025 undermines predictability of operations and partner interest. Without a stable commercial revenue stream, the company depends on financing or partnerships, increasing execution risk and making multi‑year planning and capital allocation fragile.

Listing and governance risk

Active exchange noncompliance, a going‑concern audit warning and a failed stockholder meeting signal governance and financing fragility. These structural issues raise delisting and oversight risk, complicate access to capital, and can materially impair long‑term strategic execution if unresolved.

Azitra Inc Business Overview & Revenue Model

Company Description

Azitra, Inc., a pre-clinical biopharmaceutical company, focuses on developing therapies for precision dermatology using engineered proteins and live biotherapeutic products to treat skin diseases. It is developing ATR-12, a genetically modified strain of S. epidermidis for treating Netherton syndrome, a skin disease; ATR-04, a genetically modified strain of S. epidermidis for treating the papulopustular rash experienced by cancer patients undergoing epidermal growth factor receptor inhibitor; and ATR-01, an engineered recombinant human filaggrin protein for treating ichthyosis vulgaris, a skin disease. The company was incorporated in 2014 and is based in Branford, Connecticut.

How the Company Makes Money

Azitra is a clinical-stage company and, based on publicly available high-level company disclosures, it does not appear to generate material recurring revenue from commercial product sales. Its potential and/or historical sources of income typically include (i) collaboration or partnership revenue such as upfront payments, research funding, milestone payments, and royalties tied to successful development and commercialization by partners, and (ii) other non-operating sources such as grants or similar funding (if received). Specific details on current revenue composition, named counterparties, the amounts of any collaboration payments, and whether it is receiving royalties are null.

Azitra Inc Financial Statement Overview

Summary

Despite strong revenue growth through 2024, profitability and cash generation are extremely weak with persistent losses and ongoing cash burn. The 2025 dislocation (zero revenue alongside dramatically larger losses and cash outflows) materially increases funding/continuity risk, and historically unstable equity plus very poor ROE further weigh on quality.

Income Statement

Revenue improved sharply from 2021–2024 (from $0.11M to $7.5M; 2024 revenue growth ~993%), but profitability remains very weak with large and persistent losses (net income was -$9.0M in 2024 and deteriorated to -$11.0B in 2025 on zero revenue). Margins were deeply negative from 2021–2024 and the 2025 margin fields are effectively unusable given the $0 revenue backdrop, highlighting a major earnings quality and volatility concern.

Balance Sheet

Leverage appears modest in the reported periods with positive equity (debt-to-equity ~0.30 in 2023 and ~0.10 in 2024–2025), which supports solvency on paper. However, the balance sheet shows meaningful historical instability (negative equity in 2021–2022) and returns on equity are very poor when equity is positive (e.g., ROE around -157% in 2024 and -288% in 2025), reflecting heavy losses relative to the capital base.

Cash Flow

Cash generation is consistently negative, with operating cash flow and free cash flow deeply in the red across all years (about -$10.2M OCF / -$10.6M FCF in 2024, and worsening to roughly -$11.2B OCF / -$11.25B FCF in 2025). While free cash flow roughly tracked net losses (free cash flow to net income ~1.0–1.08), the ongoing cash burn and the sharp 2025 deterioration raise funding and continuity risk without clear evidence of a near-term inflection.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	7.50M	686.00K	284.00K	110.00K
Gross Profit	-453.14K	7.50M	686.00K	284.00K	110.00K
EBITDA	-10.49M	-8.50M	-10.67M	-10.02M	-8.79M
Net Income	-10.96M	-8.97M	-11.28M	-10.68M	-8.94M
Balance Sheet
Total Assets	5.03B	7.36M	5.12M	7.17M	10.20M
Cash, Cash Equivalents and Short-Term Investments	2.07B	4.55M	1.80M	3.49M	8.04M
Total Debt	422.08M	555.51K	885.95K	7.73M	992.02K
Total Liabilities	1.22B	1.66M	2.20M	43.43M	35.97M
Stockholders Equity	3.80B	5.70M	2.91M	-36.26M	-25.77M
Cash Flow
Free Cash Flow	-11.25B	-10.56M	-7.68M	-8.69M	-8.72M
Operating Cash Flow	-11.22B	-10.18M	-7.36M	-8.35M	-8.07M
Investing Cash Flow	-182.91K	-379.25K	-318.26K	-336.76K	-652.27K
Financing Cash Flow	8.92M	13.32M	5.98M	4.13M	992.86K

Azitra Inc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AZTR, the sentiment is Negative. The current price of 0.3 is above the 20-day moving average (MA) of 0.18, above the 50-day MA of 0.23, and below the 200-day MA of 0.75, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 35.52 is Neutral, neither overbought nor oversold. The STOCH value of 20.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AZTR.

Azitra Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
INM	43 Neutral	$2.60M	―	-82.17%	―	-3.27%	51.83%
ENVB	42 Neutral	$2.78M	-0.32	-262.78%	―	―	79.45%
AZTR	39 Underperform	$2.56M	-0.12	-215.04%	―	-100.00%	93.82%
ONCO	33 Underperform	$1.88M	-0.10	-263.57%	―	-34.58%	96.41%
OGEN	29 Underperform	$3.36M	―	-168.95%	―	―	90.27%

Azitra Inc Corporate Events

Azitra Faces NYSE American Noncompliance and Delisting Risk

Azitra Inc., a clinical-stage biopharmaceutical company specializing in precision dermatology, is developing live biotherapeutic products including ATR-12 for Netherton syndrome and ATR-04 for EGFR inhibitor–associated rash, supported by an AI-driven microbial strain library. Its programs target rare and treatment-resistant dermatologic conditions, positioning the company in a niche segment of the dermatology market.

On March 13, 2026, Azitra disclosed it had received a notice from NYSE American that it is not in compliance with the exchange’s stockholders’ equity requirement under Section 1003(a)(iii), after reporting $3.8 million in equity as of December 31, 2025 and losses over the past five fiscal years. The exchange has given the company until April 1, 2027 to regain compliance under an existing plan or face potential delisting proceedings, a risk underscored by a going-concern warning in its latest audited financial statements, although trading of its shares and SEC reporting obligations continue unchanged.

During this plan period, Azitra will remain listed on NYSE American but will undergo quarterly monitoring to assess its progress in rebuilding equity and meeting continued listing standards. The company is exploring multiple funding options to shore up its financial position, a process that will be closely watched by investors given the combined pressures of ongoing losses, compliance deadlines and the possibility of delisting if its turnaround efforts fall short.

The most recent analyst rating on (AZTR) stock is a Hold with a $0.17 price target. To see the full list of analyst forecasts on Azitra Inc stock, see the AZTR Stock Forecast page.

Azitra Cancels Special Stockholder Meeting and Proposals

Azitra Inc., a clinical-stage biopharmaceutical company specializing in precision dermatology therapies for severe skin conditions such as Netherton syndrome and EGFR inhibitor–associated rash, develops live biotherapeutic candidates ATR-12 and ATR-04 from its AI-supported microbial engineering platform. The company targets high-need dermatologic markets where few or no approved treatment options currently exist.

On March 5, 2026, Azitra announced it had canceled its special meeting of stockholders, which was originally convened on February 6, 2026 but adjourned to March 6, 2026 after failing to reach a quorum. The company subsequently withdrew the proposals slated for shareholder consideration, signaling a pause on the corporate actions that had been scheduled for a vote and removing an immediate governance milestone from its near-term agenda.

The most recent analyst rating on (AZTR) stock is a Sell with a $0.18 price target. To see the full list of analyst forecasts on Azitra Inc stock, see the AZTR Stock Forecast page.

Azitra Reschedules Special Meeting to Approve Share Issuance

On February 6, 2026, Azitra Inc. convened but immediately adjourned a special meeting of stockholders after determining that only about 13% of outstanding common shares were represented, well below the one‑third quorum requirement, and rescheduled the meeting to March 6, 2026, to solicit additional votes. The reconvened virtual meeting will ask shareholders to approve the potential issuance of more than 19.99% of Azitra’s outstanding common stock under a securities purchase agreement with Alumni Capital LP, as well as the option to adjourn again if needed, a vote that could be important for the company’s financing plans and capital structure; investors of record as of January 2, 2026, who have not yet voted are being urged to do so by mail, internet, telephone or during the reconvened meeting, while previously submitted proxies remain valid unless changed.

The most recent analyst rating on (AZTR) stock is a Hold with a $0.23 price target. To see the full list of analyst forecasts on Azitra Inc stock, see the AZTR Stock Forecast page.

Azitra Inc Compliance Plan Approved by NYSE American

Azitra, Inc. announced that NYSE American has approved its compliance plan to meet the exchange’s minimum stockholders’ equity requirement by April 1, 2027. While the company’s listing remains active during the plan period, failure to meet milestones or regain compliance by the deadline could lead to delisting proceedings, creating potential implications for operations and investor confidence.

The most recent analyst rating on (AZTR) stock is a Hold with a $0.37 price target. To see the full list of analyst forecasts on Azitra Inc stock, see the AZTR Stock Forecast page.