Azitra shares surge 63.54% after-hours after $31.4M financing for cosmetic protein/peptide programs with institutional investors.

Azitra Inc. (AZTR) surged 63.54% in after-hours trading following the announcement of a $31.4 million private placement financing, including $10.5 million in convertible preferred stock and up to $20.9 million through warrant exercises. The deal, led by healthcare-focused institutional investors including Stonepine Capital and the CEO, will fund the company’s expansion into the cosmetic and cosmeceutical markets via its microbial genetic engineering platform. The financing enables near-term commercialization of filaggrin-based proteins and peptides, targeting a $3.7 billion market by 2030. The transaction, expected to close on March 20, 2026, underscores investor confidence in Azitra’s pipeline for dermatological and cosmetic applications, aligning with the stock’s sharp post-announcement rally.