Azitra Receives Notice of Acceptance of the Listing Standards Compliance Plan from NYSE American

Rhea-AI Summary

Azitra (NYSE: AZTR) received NYSE American staff approval of its listing standards compliance plan under Section 1003(a)(ii).

Azitra previously received a notice for not meeting the $4.0 million minimum stockholders' equity requirement after reporting losses in three of the last four fiscal years. The company must regain compliance by April 1, 2027 or face potential delisting. Azitra will remain listed during monitoring and is exploring multiple funding avenues to achieve compliance.

Positive

• NYSE American staff approved the company's compliance plan
• Company will remain listed during the plan period with quarterly monitoring
• Management is exploring multiple funding avenues to regain compliance

Negative

• Not in compliance with $4.0M minimum stockholders' equity requirement
• Reported losses in 3 of the 4 most recent fiscal years
• Must regain compliance by April 1, 2027 or face delisting proceedings

Key Figures

Equity requirement $4.0 million NYSE American Section 1003(a)(ii) minimum stockholders’ equity standard

Compliance deadline April 1, 2027 Deadline to regain NYSE American continued listing compliance

EGFRi rash population approximately 150,000 people Estimated U.S. patients with EGFR inhibitor–associated rash

Microbial library size approximately 1,500 bacterial strains Strains in Azitra’s engineered live biotherapeutic platform

Market Reality Check

$0.3039 Last Close

Volume Volume 237,289 vs 20-day average 308,477 (relative volume 0.77), showing subdued trading ahead of this update. normal

Technical Shares at 0.3001 are trading below the 200-day MA of 1.3, consistent with a prolonged downtrend and proximity to the 52-week low of 0.282.

Peers on Argus 1 Up

Pre-news, AZTR was flat while selected biotech peers were mixed: QNRX up 11.62%, APVO up 10%, JAGX up 2.48%, XRTX down 2.05%, XBIO down 11.16%. Momentum scanner only flagged TOVX up 8.34%, suggesting today’s listing-compliance update was stock-specific rather than part of a broad sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 24	Capital raise	Neutral	+2.9%	Small private placement to raise approximately $1.5M at $0.32 with warrants.
Nov 12	Earnings update	Neutral	+2.0%	Q3 2025 loss of $2.8M, cash of $1.4M, continued R&D across ATR programs.
Nov 07	Clarification notice	Positive	-10.2%	Company denied a false report about a $44M registered direct offering.
Oct 20	Preclinical data	Positive	+0.4%	Positive ATR-01 preclinical data with statistically significant skin barrier effects.
Oct 15	Conference participation	Neutral	-6.5%	Participation in a dermatologic rare disease panel highlighting ATR-12 and ATR-04.

Pattern Detected

Recent news has produced modest moves: positive clinical data in October 2025 aligned with a small gain, while a clarification about a false offering report coincided with a double‑digit decline.

Recent Company History

Over the last few months, Azitra has balanced capital-raising with pipeline progress. In October 2025, it reported positive preclinical results for ATR-01 and outlined plans to file an IND in 2026. Subsequent conference participation highlighted ATR-12 and ATR-04. November saw Q3 2025 results with a $2.8M quarterly net loss and low cash, plus a $1.5M private placement. Today’s NYSE American acceptance of its compliance plan fits into ongoing efforts to address the $4.0M equity deficiency.

Market Pulse Summary

This announcement confirms NYSE American’s acceptance of Azitra’s plan to regain compliance with continued listing standards that require stockholders’ equity of at least $4.0 million. The company has until April 1, 2027 and faces periodic reviews, highlighting ongoing listing and funding risk. Investors may track future financings, progress in ATR-12 and ATR-04, and updates to stockholders’ equity levels as key markers of execution against the plan.

Key Terms

continued listing standards regulatory

"to come into compliance with the Exchange's continued listing standards under Section 1003(a)(ii)"

Ongoing rules a stock exchange requires a listed company to meet to keep its shares trading publicly, such as minimum share price, market value, timely financial reports, and governance practices. Think of it as a membership checklist for a club: falling short can lead to warnings or removal from the exchange, which can sharply reduce liquidity, investor confidence, and a stock’s value. Investors watch these standards to gauge regulatory risk and the stability of their holdings.

stockholders' equity financial

"not in compliance with the minimum stockholders' equity requirement of Section 1003(a)(ii)"

Stockholders' equity is the portion of a company's assets that belongs to its owners after all debts and obligations are paid; think of it as the value left for shareholders if the company sold everything and paid off what it owes. Investors watch it because it shows the company's net worth, indicates how much of growth is funded by owners versus debt, and helps assess financial health and the potential for future dividends or stock value increases — like the equity in a house after the mortgage is settled.

phase 1b clinical trial medical

"The ATR-12 program includes a Phase 1b clinical trial in adult Netherton syndrome patients."

A phase 1b clinical trial is an early-stage human study that follows initial safety tests and checks how a new drug or treatment works at different doses in the target patient group. It matters to investors because it is one of the first steps showing whether a therapy is tolerable and shows any sign of benefit in real patients — like a small proof-of-concept test that can significantly raise or lower a drug’s commercial prospects.

egfr inhibitor medical

"utilizes another engineered strain of S. epidermidis for the treatment of EGFR inhibitor ("EGFRi") associated rash."

An epidermal growth factor receptor (EGFR) inhibitor is a medicine that blocks a specific protein on some cancer cells that acts like a ‘on’ switch for growth; by turning that switch off, the drug can slow or stop tumor growth. Investors care because these drugs are often tied to clear clinical tests, targeted patient groups, patent-protected sales and regulatory decisions, so trial results, safety issues or approvals can sharply change a company’s value.

fast track designation regulatory

"Azitra has received Fast Track designation from the FDA for EGFRi associated rash"

A "fast track designation" is a process that speeds up the review and approval of a product or project, allowing it to reach the market or be completed more quickly than usual. For investors, it can signal that a product may become available sooner, potentially leading to earlier revenue or benefits, and indicating a priority status that might influence company performance and market opportunities.

live biotherapeutic products medical

"topical live biotherapeutic products that includes a microbial library comprised of approximately 1,500 bacterial strains."

Live biotherapeutic products are medicines made from live microorganisms intended to prevent, treat or cure disease, administered to people under medical oversight. Think of them like highly regulated, medicinal versions of probiotics: they can offer new ways to address illnesses but also bring special risks and costs — strict regulatory approval, complex manufacturing (imagine precision brewing), storage and batch consistency — all of which can significantly affect clinical success and investor returns.

machine learning technical

"augmented by artificial intelligence and machine learning technology that analyzes, predicts"

Machine learning is a set of computer programs that learn patterns from large amounts of data and improve their predictions or decisions over time, like a recipe that gets better each time it’s adjusted based on taste tests. For investors it matters because these systems can speed up analysis, spot trends or risks humans might miss, automate routine work, and potentially create competitive advantages or cost savings that affect a company’s performance.

AI-generated analysis. Not financial advice.

BRANFORD, Conn., Dec. 17, 2025 /PRNewswire/ -- Azitra, Inc. (NYSE American: AZTR), a clinical stage biopharmaceutical company focused on developing innovative therapies for precision dermatology, today announced it received a notice from the staff of NYSE American LLC (the "Exchange") approving Azitra's plan (the "Plan") to come into compliance with the Exchange's continued listing standards under Section 1003(a)(ii) of the NYSE American Company Guide. As previously reported, on October 1, 2025, Azitra received a letter from the NYSE American stating that Azitra is not in compliance with the minimum stockholders' equity requirement of Section 1003(a)(ii) of the Company Guide requiring stockholders' equity of $4.0 million or more if Azitra has reported losses from continuing operations and/or net losses in three of the four most recent fiscal years.

Azitra must regain compliance with the continued listing standards by April 1, 2027. If Azitra is not in compliance with the continued listing standards by April 1, 2027, or if Azitra does not make progress consistent with the Plan during the plan period, NYSE Regulation staff will initiate delisting proceedings as appropriate.

Azitra will continue its listing on NYSE American during the plan period and will be subject to periodic reviews, including quarterly monitoring for compliance with the Plan until it has regained compliance. Azitra is assessing and exploring multiple funding avenues and is committed to achieving compliance with the Exchange's requirements.

Receipt of the notice from the Exchange has no immediate effect on the listing or trading of Azitra's common stock on the Exchange, and does not affect Azitra's business, operations or reporting requirements with the U.S. Securities and Exchange Commission.

About Azitra

Azitra, Inc. is a clinical stage biopharmaceutical company focused on developing innovative therapies for precision dermatology. The Company's lead program, ATR-12, uses an engineered strain of S. epidermidis designed to treat Netherton syndrome, a rare, chronic skin disease with no approved treatment options. Netherton syndrome may be fatal in infancy with those living beyond a year having profound lifelong challenges. The ATR-12 program includes a Phase 1b clinical trial in adult Netherton syndrome patients. ATR-04, Azitra's additional advanced program, utilizes another engineered strain of S. epidermidis for the treatment of EGFR inhibitor ("EGFRi") associated rash. Azitra has received Fast Track designation from the FDA for EGFRi associated rash, which impacts approximately 150,000 people in the U.S. Azitra has an open IND for its ATR-04 program in patients with EGFRi associated rash. The ATR-12 and ATR-04 programs were developed from Azitra's proprietary platform of engineered proteins and topical live biotherapeutic products that includes a microbial library comprised of approximately 1,500 bacterial strains. The platform is augmented by artificial intelligence and machine learning technology that analyzes, predicts, and helps screen the library of strains for drug like molecules. For more information, please visit https://azitrainc.com.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding Azitra's expectations for compliance with the Plan and applicable Exchange requirements, Azitra locating or acquiring funding in the future, and actions of Azitra and/or the Exchange to be taken with respect to matters discussed in the notice. 

Any forward-looking statements in this press release are based on current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to that we may experience delays in the dosing the first patient in this Phase 1/2 trial; our product candidates may not be effective; there may be delays in regulatory approval or changes in regulatory framework that are out of our control; our estimation of addressable markets of our product candidates may be inaccurate; we may fail to timely raise additional required funding; our actions and/or the Exchange's actions to be taken with respect to matters discussed in the notice from the Exchange; more efficient competitors or more effective competing treatment may emerge; we may be involved in disputes surrounding the use of our intellectual property crucial to our success; we may not be able to attract and retain key employees and qualified personnel; earlier study results may not be predictive of later stage study outcomes; and we are dependent on third-parties for some or all aspects of our product manufacturing, research and preclinical and clinical testing. Additional risks concerning Azitra's programs and operations are described or incorporated by reference in our annual report on Form 10-K filed with the SEC on February 24, 2025, and in subsequent quarterly reports on Form 10-Q. Azitra explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

Contact

Norman Staskey
Chief Financial Officer
staskey@azitrainc.com

Investor Relations
Tiberend Strategic Advisors, Inc.
Jon Nugent
205-566-3026
jnugent@tiberend.com

Media Relations
Tiberend Strategic Advisors, Inc.
Casey McDonald
646-577-8520
cmcdonald@tiberend.com

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SOURCE Azitra, Inc.

FAQ

What did Azitra (AZTR) announce about NYSE American listing compliance on December 17, 2025?

Azitra announced NYSE American staff approved its listing standards compliance plan under Section 1003(a)(ii).

Why is Azitra (AZTR) out of compliance with NYSE American listing standards?

Azitra does not meet the $4.0 million minimum stockholders' equity requirement after reporting losses in 3 of the last 4 fiscal years.

What is the deadline for Azitra (AZTR) to regain NYSE compliance?

Azitra must regain compliance by April 1, 2027 to avoid potential delisting proceedings.

Will Azitra (AZTR) continue trading while following the compliance plan?

Yes. Azitra will continue its listing and trading on NYSE American during the plan period and undergo periodic monitoring.

What actions is Azitra (AZTR) taking to meet NYSE listing requirements?

The company is assessing and exploring multiple funding avenues to restore the required stockholders' equity.

Does the NYSE notice affect Azitra's SEC reporting or operations?

No. Receipt of the notice has no immediate effect on listing or trading and does not affect SEC reporting or business operations.