Azitra Inc (AZTR) AI Stock Analysis

• Market Cap: $1.88M
• Dividend Yield: N/A
• Average Volume (3M): 169.78K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.87
• Revenue Growth: -100.00%
• EPS Growth: 93.82%
• Country: US
• Employees: 12
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): N/A
• Shares Outstanding: 10,740,697
• 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: -874.71
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 7.39K
• Enterprise Value/Ebitda: 0.15
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: $0.17 ▼(-44.33% Downside)
• Action: Reiterated Date: 02/28/26
• Date: Action: Reiterated 02/28/26

The score is driven primarily by weak financial performance (persistent heavy losses and ongoing cash burn, with a severe 2025 deterioration) and bearish technicals (price below major moving averages with negative MACD). Valuation contributes limited support due to negative earnings and no dividend.

Positive Factors

Skin microbiome focus

Azitra's specialized platform targeting the skin microbiome creates a durable scientific moat: leveraging engineered and naturally derived microbial strains positions the company to develop multiple differentiated dermatology candidates, attract partnerships, and scale a focused pipeline over many months.

Clinical progress (ATR-04)

Addition of MD Anderson as a trial site strengthens execution credibility and patient access for ATR-04's Phase 1/2 study. A reputable oncology center supports data quality and enrollment, improving the program's viability and long-term partnering or licensing prospects across development timelines.

Modest reported leverage

Recent periods show positive equity and relatively low reported leverage, providing a solvency buffer versus peers. This balance-sheet posture supports the company's ability to pursue financing, partnerships, or milestone-driven R&D without immediate bankruptcy risk, improving runway resilience.

Negative Factors

Severe cash burn

Operating and free cash flow are consistently and materially negative, with a dramatic 2025 deterioration. Persistent cash burn creates ongoing funding requirements, forces reliance on dilutive financings or partner cash, and raises continuity risk for multi-stage clinical programs over the coming months.

Revenue collapse & volatile earnings

A swing from modest revenue to zero in 2025 and extreme losses highlights unstable revenue quality and earnings volatility. This undermines predictable funding or commercial validation, complicates partner negotiations, and increases execution risk for pipeline advancement over the medium term.

Financing uncertainty and dilution risk

The need to approve a large equity issuance, combined with a low quorum that forced adjournment, signals reliance on dilution to fund operations. Shareholder voting uncertainty and potential dilution threaten investor confidence and could constrain capital access needed to sustain clinical programs.

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 Inc generates revenue through a combination of product sales, licensing agreements, and collaborations with pharmaceutical companies. The primary revenue stream comes from the commercialization of its therapeutic products once they receive regulatory approval. In addition, Azitra may enter into partnerships with larger pharmaceutical companies for co-development and distribution of its products, which can provide upfront payments and milestone payments tied to clinical progress. The company also focuses on securing grants and funding for its research initiatives, which can supplement its income and support ongoing development efforts.

Azitra Inc Financial Statement Overview

Summary

Financials show extreme weakness: despite sharp revenue improvement through 2024, profitability remains deeply negative and cash flow is consistently and materially negative. The 2025 dislocation (zero revenue alongside dramatically larger losses and cash outflows) materially increases continuity and funding risk, partially offset by modest reported leverage and positive equity in recent periods.

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	0.00	7.50M	686.00K	284.00K	110.00K
EBITDA	-10.97B	-8.50M	-10.67M	-10.02M	-8.79M
Net Income	-10.96B	-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	-182.91M	-379.25K	-318.26K	-336.76K	-652.27K
Financing Cash Flow	0.00	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 0.20, above the 50-day MA of 0.25, and below the 200-day MA of 0.85, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 33.30 is Neutral, neither overbought nor oversold. The STOCH value of 45.58 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	42 Neutral	$2.48M	-0.22	-82.17%	―	-3.27%	51.83%
ENVB	42 Neutral	$3.27M	-0.02	-262.78%	―	―	79.45%
AZTR	41 Neutral	$1.88M	-0.03	-215.04%	―	-100.00%	93.82%
ONCO	33 Underperform	$1.04M	>-0.01	-263.57%	―	-34.58%	96.41%
OGEN	29 Underperform	$3.50M	-0.05	-168.95%	―	―	90.27%

Azitra Inc Corporate Events

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.