01:49 PM EDT, 03/19/2026 (MT Newswires) -- Azitra ( AZTR ) said Thursday it has struck a deal to sell about $10.5 million in convertible preferred stock to new and existing healthcare-focused institutional investors.

The deal also includes funding of up to an additional $20.9 million upon exercise of warrants, the clinical-stage firm said. Investors include Stonepine Capital and Nantahala Capital, it added.

Azitra ( AZTR ) said it plans to use the proceeds for research and development, working capital, and general corporate expenses. It expects to close the transaction March 20.