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Dermata Therapeutics, Inc. - DRMA STOCK NEWS

Welcome to our dedicated page for Dermata Therapeutics news (Ticker: DRMA), a resource for investors and traders seeking the latest updates and insights on Dermata Therapeutics stock.

Dermata Therapeutics, Inc. (symbol: DRMA) is a clinical-stage biotechnology company based in San Diego, California, focused on the development and commercialization of novel pharmaceutical products for the treatment of medical and aesthetic skin conditions. The company leverages its proprietary Spongilla technology platform to create unique, topical treatments with multifaceted mechanisms of action.

Dermata's lead product candidate, DMT310, is a once-weekly topical treatment derived from a naturally sourced freshwater sponge. Designed to treat inflammatory skin diseases such as acne, rosacea, and psoriasis, DMT310 has shown significant promise in clinical trials. The Phase 3 STAR-1 clinical trial for moderate-to-severe acne is set to start enrolling patients in the second half of 2023, with topline results expected in the first quarter of 2025.

The company's second product candidate, DMT410, employs the Spongilla technology for the needle-free intradermal delivery of botulinum toxin. This product is being developed for the treatment of hyperhidrosis and various aesthetic skin conditions. Recent advancements include the issuance of a Japanese patent for DMT410 and ongoing partnership discussions to further its development.

Financially, Dermata has demonstrated robust fiscal management, raising $6.8 million in gross proceeds from financings in the first half of 2023. As of June 2023, the company reported $8.4 million in cash and cash equivalents. This funding is projected to sustain operations into the second quarter of 2024.

Key milestones include FDA feedback on the Phase 3 clinical trial design for DMT310 and successful capital raises. Dermata continues to focus on advancing its clinical programs and exploring potential partnerships to bring its innovative treatments to market. For more detailed information, visit Dermata's official website.

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Dermata Therapeutics announced the exercise of warrants, resulting in approximately $2.66 million in gross proceeds. The warrants were priced at $5.16 per share, a reduction from their original prices of $9.7665 and $32.40. This transaction involved a total of 516,336 shares of the company's common stock. The closing of this offering is expected around May 21, 2024, pending customary conditions.

In exchange, Dermata will issue new Series A and Series B warrants, exercisable immediately and with different terms. Series A warrants cover 601,174 shares, priced at $4.91 per share, and have a term of five and a half years. Series B warrants cover 431,498 shares, with a two-year term.

The proceeds will fund general corporate purposes including ongoing research, clinical trials, and potential acquisitions. H.C. Wainwright & Co. acted as the exclusive placement agent for this offering.

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Dermata Therapeutics (Nasdaq: DRMA) reported its first quarter 2024 financial results and provided a corporate update. The company is on track with its DMT310 Phase 3 STAR-1 clinical trial for acne, aiming to complete enrollment by end of 2024 with topline data expected in Q1 2025. Dermata is also in discussions for partnerships for its botulinum toxin delivery program, DMT410, and has received a Japanese patent for treating hyperhidrosis. Financially, Dermata ended Q1 2024 with $4.7 million in cash, down from $7.4 million at the end of 2023, following a $3.1 million net loss. Expenses for R&D and G&A increased due to higher clinical trial and stock-based compensation costs.

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Dermata Therapeutics, Inc. (Nasdaq:DRMA) will provide a corporate update and hold a live Q&A session at the Emerging Growth Conference on April 3, 2024. CEO Gerry Proehl will discuss the company's progress and answer audience questions. The event will be held online, allowing shareholders and investors to interact in real-time.
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Dermata Therapeutics, Inc. will be featured at the Emerging Growth Conference on February 7, 2024, providing an overview of the Company's business and allowing for audience interaction. CEO Gerry Proehl will answer questions in real time, offering existing shareholders and the investment community valuable insights.
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Dermata Therapeutics, Inc. (Nasdaq:DRMA, DRMAW) has received its first patent in Japan for DMT410, a program using Spongilla technology to deliver botulinum toxin topically for hyperhidrosis. The Japanese prevalence of hyperhidrosis in 2022 was 10%, with approximately 6% having primary axillary hyperhidrosis. The company is currently discussing partnership opportunities to advance the development of DMT410.
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Tesla Inc. (TSLA) Announces Record-Breaking Q3 Earnings, Surpassing Analyst Expectations
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Dermata Therapeutics, Inc. (NASDAQ:DRMA)(NASDAQ:DRMAW) announces FDA agreement for DMT310 Phase 3 clinical trial protocols, aiming to evaluate the efficacy and safety of once-weekly treatments for moderate-to-severe acne patients. Topline results from STAR-1 clinical trial expected in Q1 2025. DMT310 may be the first once-weekly, topical acne treatment.
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Dermata Therapeutics, Inc. (NASDAQ:DRMA)(NASDAQ:DRMAW) announced a definitive agreement for the immediate exercise of outstanding warrants to purchase up to 3,472,095 shares of common stock at a reduced price of $0.6511 per share. The offering is expected to close soon.
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Dermata Therapeutics, Inc. (NASDAQ:DRMA)(NASDAQ:DRMAW) reported $6.8 million in gross proceeds from financings, FDA feedback on Phase 2 meeting package, and start-up activities for DMT310 Phase 3 STAR-1 clinical trial in acne.
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Dermata Therapeutics to present at H.C. Wainwright 25th Annual Global Investment Conference
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FAQ

What is the current stock price of Dermata Therapeutics (DRMA)?

The current stock price of Dermata Therapeutics (DRMA) is $1.34 as of December 24, 2024.

What is the market cap of Dermata Therapeutics (DRMA)?

The market cap of Dermata Therapeutics (DRMA) is approximately 2.7M.

What does Dermata Therapeutics, Inc. specialize in?

Dermata Therapeutics specializes in developing and commercializing pharmaceutical products for medical and aesthetic skin conditions using its proprietary Spongilla technology.

What is DMT310?

DMT310 is Dermata's lead product candidate, a once-weekly topical treatment derived from a freshwater sponge, designed to treat acne, rosacea, and psoriasis.

What is DMT410?

DMT410 is a product using Dermata's Spongilla technology for needle-free intradermal delivery of botulinum toxin, aimed at treating hyperhidrosis and various aesthetic skin conditions.

How much funding did Dermata raise in the first half of 2023?

Dermata raised an aggregate of $6.8 million in gross proceeds from two financings completed in the first half of 2023.

When is the Phase 3 STAR-1 clinical trial for DMT310 expected to start?

The Phase 3 STAR-1 clinical trial for DMT310 is projected to start enrolling patients in the second half of 2023.

What recent feedback did Dermata receive from the FDA?

Dermata received positive feedback from the FDA on its End of Phase 2 meeting package for DMT310, indicating the Phase 3 clinical study design is acceptable to support filing a new drug application.

What are the anticipated results from the STAR-1 clinical trial?

Topline results from the STAR-1 clinical trial are expected in the first quarter of 2025.

What is the financial outlook for Dermata?

As of June 2023, Dermata had $8.4 million in cash and cash equivalents, expected to fund operations into the second quarter of 2024.

Where is Dermata Therapeutics headquartered?

Dermata Therapeutics is headquartered in San Diego, California.

How can I find more information about Dermata Therapeutics?

For more detailed information, visit Dermata's official website at http://www.dermatarx.com/.

Dermata Therapeutics, Inc.

Nasdaq:DRMA

DRMA Rankings

DRMA Stock Data

2.73M
2.02M
0.84%
0.66%
6.21%
Biotechnology
Pharmaceutical Preparations
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United States of America
SAN DIEGO