Dermata Therapeutics Inc Stock Price, News & Analysis

Dermata Therapeutics (NASDAQ:DRMA) announces FDA approval for the proprietary name Xyngari (formerly DMT310) for its Phase 3 acne treatment candidate. The approval is contingent on successful submission and acceptance of a new drug application (NDA). Topline results from the first Phase 3 STAR-1 study are expected in March 2025.

The STAR-1 study is a randomized, double-blind, placebo-controlled trial involving 520 patients with moderate-to-severe facial acne. The study evaluates once-weekly treatment over 12 weeks, with primary endpoints including changes in lesion counts and Investigator Global Assessment scores. If successful, Xyngari could become the first safe, effective, once-weekly topical acne treatment.

Dermata Therapeutics (NASDAQ: DRMA) has received a notice of allowance from the USPTO for a new patent application for its DMT310 product, targeting acne treatment. This marks Dermata's first allowed U.S. patent application for DMT310, which utilizes Spongilla technology for topical acne treatment.

The company has completed enrollment in its DMT310 Phase 3 STAR-1 study and expects to announce topline results in March 2025. The market potential is significant, with over 30 million acne patients seeking treatment annually in the U.S., where topical products serve as first-line therapy.

Dermata Therapeutics (NASDAQ:DRMA) has completed enrollment in its pivotal Phase 3 STAR-1 clinical trial for DMT310, a once-weekly topical treatment for moderate-to-severe acne. The study enrolled 520 patients aged 9 and older across the U.S. and Latin America, with topline results expected in March 2025. This randomized, double-blind, placebo-controlled study is the first of two Phase 3 trials needed to support an NDA filing. The trial will evaluate efficacy through inflammatory and noninflammatory lesion counts and Investigator Global Assessment scores over a 12-week treatment period.

Dermata Therapeutics (NASDAQ:DRMA) reported its Q3 2024 financial results and corporate updates. The company reached 50% enrollment in its DMT310 Phase 3 STAR-1 clinical trial for moderate-to-severe acne, expecting topline results in Q1 2025. Dermata raised $7.8 million in gross proceeds during 2024, with $6.1 million cash on hand as of September 30, 2024. R&D expenses increased to $2.4 million in Q3 2024 from $0.9 million in Q3 2023, while G&A expenses slightly decreased to $0.8 million. The company continues partnership discussions for its DMT410 botulinum toxin delivery program.

Dermata Therapeutics, a late-stage biotechnology company focused on skin diseases and conditions, announced its participation in the 2024 Maxim Healthcare Virtual Summit. The event, presented by Maxim Group , will take place on Tuesday, October 15, 2024.

CEO Gerry Proehl will present at 3:30 PM ET, providing an update on Dermata's Phase 3 acne program followed by a Q&A session. The summit will feature presentations and interactive discussions with CEOs and key management from various healthcare companies, as well as industry panels.

To attend the virtual event, interested parties must sign up for M-Vest membership. Dermata Therapeutics is traded on NASDAQ under the symbols DRMA and DRMAW.

Dermata Therapeutics (NASDAQ:DRMA) has closed a $3.5 million private placement of common stock and warrants priced at-the-market. The offering included 1,912,569 shares (or pre-funded warrants) with accompanying series A and B warrants. Since May 2024, Dermata has raised approximately $7.8 million in gross proceeds, which is expected to fund operations into Q2 2025. H.C. Wainwright & Co. acted as the exclusive placement agent. The company plans to use the net proceeds for general corporate purposes, including research, clinical trials, and potential acquisitions. The securities were offered under Section 4(a)(2) of the Securities Act and have not been registered, limiting their resale in the United States.

Dermata Therapeutics (NASDAQ:DRMA) has announced a $3.5 million private placement priced at-the-market under Nasdaq rules. The offering includes 1,912,569 shares of common stock (or pre-funded warrants) with accompanying series A and B warrants. The purchase price is set at $1.83 per share, with warrants exercisable at $1.58 per share. H.C. Wainwright & Co. is the exclusive placement agent.

The company plans to use the net proceeds for general corporate purposes, including ongoing research, clinical trials, technology development, and potential acquisitions. The closing is expected around September 17, 2024. The securities are being offered under Section 4(a)(2) of the Securities Act and have not been registered, limiting their sale in the United States.

Dermata Therapeutics (Nasdaq: DRMA) has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference, scheduled for September 9-11, 2024. The event will be held at the Lotte New York Palace Hotel, with virtual participation options available. Gerry Proehl, Chairman, President, and CEO of Dermata, will present an overview of the company's business and provide an update on their Phase 3 acne program.

The conference will feature over 550 company presentations, available both live and on-demand. Investors interested in attending Dermata's presentation can register through the provided link. The company's virtual presentation will be available on-demand starting September 9 at 7:00 A.M. Eastern Time.

Dermata Therapeutics (Nasdaq: DRMA) has provided a corporate update and reported Q2 2024 financial results. Key highlights include:

1. Over 50% enrollment in DMT310 Phase 3 STAR-1 acne trial
2. Ongoing discussions for DMT410 botulinum toxin partnerships
3. $2.3 million raised in Q2 2024 financing
4. $4.9 million cash on hand as of June 30, 2024
5. R&D expenses increased to $2.0 million in Q2 2024
6. G&A expenses remained stable at $0.9 million

The company expects topline results from STAR-1 in Q1 2025 and anticipates its current cash resources to fund operations into Q4 2024.