Branford-based biotech Azitra has regained compliance with NYSE American listing standards after raising new capital to address a stockholders’ equity shortfall.
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Branford-based biotech Azitra Inc. said Friday it has regained compliance with NYSE American listing standards.
The announcement comes five months after it raised new capital to address a stockholders’ equity shortfall that threatened its continued listing.
In a filing with the Securities and Exchange Commission, Azitra said it received a letter Aug. 19 from NYSE Regulation confirming that the company had resolved two deficiencies related to minimum stockholders’ equity requirements. As a result, the exchange will remove Azitra from its list of noncompliant issuers and eliminate its “below compliance” designation, the filing states.
Based at 21 Business Park Drive, the clinical-stage biopharmaceutical company developing topical treatments for skin diseases using genetically engineered bacteria was first notified in October 2025 that it had fallen below NYSE American's continued-listing standards. The notice came after Azitra reported $2.2 million in stockholders’ equity as of June 30, 2025.
The NYSE subsequently approved a plan giving Azitra until April 1, 2027, to regain compliance. In March, however, the company received another notice because its $3.8 million in stockholders’ equity at the end of 2025 was below a separate $6 million threshold that applied because Azitra had reported losses in its five most recent fiscal years.
Azitra has since bolstered its balance sheet through new financing.
The company announced in March it had secured financing of up to $31.4 million from institutional investors, including an initial $5 million investment and the potential for additional proceeds from the exercise of warrants.
Azitra's stockholders’ equity increased to $10.5 million as of March 31 before declining to $7.3 million at the end of the second quarter, according to financial results released earlier this month.
The company reported a second-quarter net loss of $3.3 million, or 17 cents per diluted share, compared to a $2.9 million loss, or $1.18 per diluted share, during the same period last year. Azitra ended June with $6.7 million in cash and cash equivalents, up from $2.07 million at the same point last year.
The company also has been looking for potential new revenue opportunities. Earlier this year, Azitra announced plans to enter the consumer skin-care market with ATR-COSF, a cosmetic ingredient based on a recombinant protein. The company said this month it expects to begin a human cosmetic study during the third quarter.
While Azitra has regained compliance, NYSE American will continue monitoring it for 12 months. If it falls below a continued-listing standard during that period, the exchange could initiate accelerated compliance procedures or delisting proceedings.
