DRMA (NASDAQ: DRMA) adds $705K capacity to at-the-market stock sales

Rhea-AI Filing Summary

DRMA is updating its at-the-market stock offering program to allow additional sales of its common stock with an aggregate offering price of up to $705,000 through H.C. Wainwright & Co. under an existing Form S-3 shelf. This amount is in addition to approximately $3,454,390 of common stock previously sold under earlier prospectus supplements. The filing reflects the limits of General Instruction I.B.6 of Form S-3, which restricts primary offerings to no more than one-third of public float in any 12-month period while public float is below $75.0 million. The company reports a public float of about $7,493,999, based on 2,386,624 shares held by non-affiliates as of January 23, 2026, at a reference price of $3.14 per share, and notes that about $1,792,248 of securities have been sold under these limits in the last twelve months.

Filed Pursuant to Rule 424(b)(5)

Registration No. 333-268383

PROSPECTUS SUPPLEMENT

(To Prospectus Supplements dated November 7, 2025, August 2, 2024, and June 7, 2024, to Prospectus dated November 25, 2022)

Up to $705,000

Common Stock

This prospectus supplement amends and supplements the information in the prospectus, dated November 25, 2022, filed as a part of our registration statement on Form S-3 (File No. 333-268383) (the “Registration Statement”), as supplemented by our prospectus supplements, dated June 7, 2024, August 2, 2024, and November 7, 2025 (collectively, the “Prior Prospectus”), relating to the offering, issuance and sale by us of our common stock, par value $0.0001 per share (“Common Stock”), from time to time that may be issued and sold under the At the Market Offering Agreement (the “Sales Agreement”), dated June 7, 2024, by and between us and H.C. Wainwright & Co., LLC (“Wainwright”), as sales agent. This prospectus supplement should be read in conjunction with the Prior Prospectus, and is qualified by reference thereto, except to the extent that the information herein amends or supersedes the information contained in the Prior Prospectus. This prospectus supplement is not complete without, and may only be delivered or utilized in connection with, the Prior Prospectus, and any future amendments or supplements thereto.

We are filing this prospectus supplement to amend the Prior Prospectus to update the maximum amount of shares we are eligible to sell under our Registration Statement pursuant to General Instruction I.B.6 of Form S-3. As a result of these limitations and the current public float of our Common Stock, and in accordance with the terms of the Sales Agreement, we may offer and sell shares of our Common Stock having an aggregate offering price of up to $705,000 from time to time through Wainwright, which does not include the shares of Common Stock having an aggregate sales price of approximately $3,454,390 that were sold pursuant to the Prior Prospectus to date. In the event that we may sell additional amounts under the Sales Agreement and in accordance with General Instruction I.B.6, we will file another prospectus supplement prior to making such additional sales.

As of the date of this prospectus supplement, the aggregate market value of our outstanding Common Stock held by non-affiliates (the “public float”), was approximately $7,493,999, which was calculated based on 2,386,624 shares of our outstanding Common Stock held by non-affiliates as of January 23, 2026, at a price of $3.14 per share, the closing price of our Common Stock on the Nasdaq Capital Market on November 28, 2025. During the twelve (12) calendar months prior to and including the date of this prospectus supplement, we sold securities with an aggregate market value of approximately $1,792,248 pursuant to General Instruction I.B.6 of Form S-3. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities in a public primary offering with a value exceeding one-third of our public float in any 12 calendar-month period so long as our public float remains below $75.0 million. In the event that we may sell additional amounts under the Sales Agreement, we will file another prospectus supplement prior to making such additional sales.

We are an “emerging growth company” as defined in Section 2(a) of the Securities Act and a smaller reporting company as defined under Rule 405 of the Securities Act, and as such, we have elected to comply with certain reduced public company reporting requirements. See ‘‘Prospectus Supplement Summary— Implications of Being an Emerging Growth Company and a Smaller Reporting Company” on page S-4 of the Prior Prospectus.

Our Common Stock is listed on the Nasdaq Capital Market under the symbol “DRMA.” On January 26, 2026, the last reported sale price of our Common Stock on the Nasdaq Capital Market was $3.08 per share.

Investing in the offered securities involves a high degree of risk. Before buying any shares, you should read the discussion of material risks of investing in our Common Stock in “Risk Factors” beginning on page S-6 of the Prior Prospectus, and in the risks discussed under similar headings in the documents incorporated by reference in this prospectus supplement and the Prior Prospectus, as they may be amended, updated or modified periodically in our reports filed with the Securities and Exchange Commission.

NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ADEQUACY OR ACCURACY OF THIS PROSPECTUS SUPPLEMENT AND THE ACCOMPANYING PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

H.C. Wainwright & Co.

The date of this prospectus supplement is January 27, 2026

FAQ

What is DRMA registering in this new prospectus supplement?

DRMA is updating its at-the-market program so it may sell additional shares of its common stock with an aggregate offering price of up to $705,000 through H.C. Wainwright & Co.

How does the $705,000 amount relate to prior DRMA ATM sales?

The new $705,000 capacity is separate from approximately $3,454,390 in common stock that has already been sold under earlier prospectus supplements for the same at-the-market program.

What is DRMA’s current public float used to set the ATM limit?

The public float is about $7,493,999, calculated from 2,386,624 shares of common stock held by non-affiliates as of January 23, 2026, using a reference price of $3.14 per share.

How does Form S-3 General Instruction I.B.6 affect DRMA’s offering size?

Under General Instruction I.B.6, DRMA cannot sell more than one-third of its $7,493,999 public float in public primary offerings over any 12-month period while its float remains below $75.0 million.

How much has DRMA sold under the I.B.6 limitation in the last year?

Over the twelve calendar months up to this supplement, DRMA sold securities with an aggregate market value of approximately $1,792,248 pursuant to General Instruction I.B.6 of Form S-3.

On which market is DRMA’s common stock listed and at what recent price?

DRMA’s common stock trades on the Nasdaq Capital Market under the symbol “DRMA”. The last reported sale price on January 26, 2026, was $3.08 per share.

Will DRMA update investors if it seeks to sell more under the ATM program?

If DRMA becomes able to sell additional amounts under the Sales Agreement consistent with General Instruction I.B.6, it states that it will file another prospectus supplement before making those additional sales.