Azitra, Inc. Sets Price for Public Offering

f the shares in the offering are being sold by Azitra. In addition, Azitra has granted the underwriter a 45-day option to purchase up to an additional 2,500,050 shares of common stock at the public offering price, less underwriting discounts and commissions.

The offering is expected to close on April 26, 2022, subject to customary closing conditions.

Azitra intends to use the net proceeds from the offering to fund the clinical development of its lead product candidate, AZT-02, as well as for working capital and general corporate purposes.

AZT-02 is a potential breakthrough therapy for the treatment of Netherton Syndrome, a rare and often life-threatening genetic skin disease. Azitra believes that AZT-02 has the potential to significantly improve the quality of life for patients with this debilitating condition.

Azitra is dedicated to advancing precision dermatology by developing novel therapies that target the root causes of skin diseases. The Company’s platform technology is based on the skin microbiome, leveraging the body’s own natural defenses to restore and maintain skin health.

The underwriter for the offering is H.C. Wainwright & Co. Azitra has also granted H.C. Wainwright & Co. an option to purchase up to 2,499,950 shares of common stock at the public offering price, less underwriting discounts and commissions, within a 45-day period. H.C. Wainwright & Co. acted as the sole book-running manager for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) and became effective on April 22, 2022. The offering is being made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from H.C. Wainwright & Co., LLC, by calling 617-254-4100 or emailing placements@hcwco.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Dermatology is a fast-growing and dynamic field, with an increasing demand for innovative therapies that address unmet needs. Azitra’s commitment to precision dermatology and its focus on developing novel therapies position the Company as a leader in the industry.

The public offering will provide Azitra with the necessary funds to advance the development of AZT-02 and potentially bring hope to patients suffering from Netherton Syndrome and other skin diseases. The Company’s dedication to leveraging the skin microbiome to develop breakthrough treatments is commendable, and it is exciting to see the progress they are making in this important field.

As a clinical-stage biopharmaceutical company, Azitra is well-positioned to make a significant impact in precision dermatology. The pricing of the public offering and the potential for additional funding through the underwriter’s option demonstrate investor confidence in the Company and its innovative approach to addressing skin diseases.

The expected closing of the offering on April 26, 2022, is an important milestone for Azitra, as it will provide the financial resources needed to advance its clinical development programs and expand its pipeline of precision dermatology therapies.

With its focus on developing therapies that target the root causes of skin diseases, Azitra is well-equipped to make meaningful contributions to the field of dermatology. The Company’s dedication to leveraging the skin microbiome for the benefit of patients suffering from skin conditions is truly commendable, and we look forward to the progress that Azitra will continue to make in this important area of healthcare.

Source link



Leave a Reply

Your email address will not be published. Required fields are marked *

Most Viewed

Featured Franchise Opportunity

Buffalo Wild Wings Go

Food & Beverage Franchises, Full Service Restaurant Franchises

$250ˌ000 - $500ˌ000

MilliCare Franchise

Cleaning Franchises, Low Cost Franchises

$10ˌ000 - $50ˌ000