Azitra, Inc.

AI-generated fair value estimate for this company.

Method: Net-cash-plus-risk-adjusted-pipeline method: $6.32M net cash ($6.73M cash less $0.41M debt, or $0.104/share) as a value floor; plus a $15M risk-adjusted value for the ATR-04 (Phase 1/2, EGFRi-associated rash, first-cohort readout H2 2026) and ATR-12/cosmeceutical microbiome-platform programs, computed as ~30% of a $50M comparable early-stage dermatology-platform transaction value to reflect unproven clinical proof-of-concept; total $21.32M equity value / 60.60M shares outstanding.

Reasoning: Pre-revenue clinical-stage biotech with no meaningful cash flow to discount, so a standard FCF DCF is not meaningful; a net-cash floor plus a heavily risk-adjusted, comparables-based pipeline value is the more defensible approach given two active but early (Phase 1/2) clinical programs.