Prices and market caps: Cboe delayed data, at least 15 minutes delayed. Not real-time. Fundamentals from company filings.

AZTR — Fair Value Analysis

Azitra, Inc.

Current: $0.18Undervalued

Fair Value Range

Bear Case (25th pct.)

$0.38

113.4% vs price

Base Case (Median)

$0.43

141.4% vs price

Bull Case (75th pct.)

$0.47

163.9% vs price

$0.38$0.43$0.47

◇ = Current price | | Bear | Base | Bull

Method Breakdown

Method	Est. Value	vs Price	Weight
DCF (Discounted Cash Flow)	$0.34	89.6%	High (40%)
Graham Number	$0.52	189.5%	Medium (40%)

Interpretation

Based on 2 out of 7 methods, AZTR appears undervalued at the current price of $0.18. The base case fair value of $0.43 implies 141.4% upside.

Bear/base/bull cases represent the 25th, 50th, and 75th percentile of available method estimates. This is not financial advice. Valuation is inherently uncertain.