Azitra Stock Witnesses 220x Page Views On Stocktwits After These Developments

Azitra Inc, a micro-cap dermatology company, was among the top trending stocks on Stocktwits on Wednesday morning after it announced two developments on Tuesday. The firm said the US Patent and Trademark Office (USPTO) has granted a patent that covers future potential pipeline candidates for indications including atopic dermatitis.

Apart from this, the company also announced three additional newly allowed patents in three countries, including the US, Canada, and China. Following the announcement, the stock had closed over 200% higher on Tuesday. However, a large portion of the gains were pared in Wednesday’s pre-market session with the stock losing over 75% ahead of the market open.

Following the development, the stock gained a lot of traction on Stocktwits. Tuesday’s page views for the symbol on Stocktwits stood at 220x their daily average of the previous month. Total user messages on the Azitra symbol page grew from a handful per day to over 1,000 on Tuesday while total number of users with the stock symbol on their watchlist grew by nearly 1,000 to roughly 1,600 as of Wednesday morning.

The firm expressed optimism about its new patents. Azitra’s COO and co-founder Travis Whitfill pointed out that atopic dermatitis affects approximately 16.50 million people in the United States. “There are numerous diseases associated with filaggrin deficiency, and the newly issued U.S. patent extends our protection to include a major market in the U.S., atopic dermatitis, particularly those with mild to moderate disease. Additionally, the new patent allowances in China and Canada extend our IP strength globally,” he said.

Meanwhile, the firm also announced a $10 million fundraise via common shares and warrants priced at $1.50. The company said it intends to use the net proceeds from this offering for working capital and general corporate purposes, but the dilution is weighing heavily on shares Wednesday morning.

Stocktwits users are chatting about the stock’s sudden dip after Tuesday’s optimism. One user named “dt2011” pointed out the benefits of taking profits when opportunity allows.