Dermata holders report 4.99% beneficial stake

Dermata Therapeutics, Inc. reporting persons disclosed beneficial ownership of 211,246 shares of common stock, representing 4.99% of the class.

Rhea-AI Filing Summary

Dermata Therapeutics, Inc. reporting persons disclosed beneficial ownership of 211,246 shares of common stock, representing 4.99% of the class. The position reflects shares issuable upon exercise of four warrants and is calculated using March 25, 2026 outstanding share data.

The filing states a blocker provision limits exercise of part of one warrant (Intracoastal Warrant 4), excluding 111,453 shares from the ownership total; without the blocker the reporting persons may be deemed to beneficially own 322,699 shares.

Insights

Securities Ownership Analyst

Warrant-driven holding equals a 4.99% passive stake under a blocker clause.

Dermata reporting persons report beneficial ownership of 211,246 shares, computed using March 25, 2026 outstanding shares of 4,022,143. The position is entirely attributable to four warrants held by Intracoastal and related persons.

The filing highlights a blocker provision in Intracoastal Warrant 4 that excludes 111,453 exercisable shares; without that provision the filing states a higher beneficial ownership figure of 322,699 shares. Subsequent filings would show any exercise or lifting of the blocker.

Corporate Governance Expert

Disclosure is routine passive ownership reporting under Schedule 13G/A.

The filing identifies the reporting persons (Mitchell P. Kopin, Daniel B. Asher, Intracoastal Capital LLC) and states shared voting and dispositive power over 211,246 shares. It frames the holding as ≤5% and cites the issuer-supplied outstanding share count used for the calculation.

Material dependency is the blocker clause language; governance or control implications hinge on whether warrants are exercised or transferred. Future filings will disclose any exercises or changes in percent ownership.

Key Figures

Beneficial ownership reported: 211,246 shares Percent of class: 4.99% Shares outstanding used: 4,022,143 shares +3 more

6 metrics

Beneficial ownership reported 211,246 shares as of close of business March 31, 2026 (issuable upon exercise of warrants)

Percent of class 4.99% based on 4,022,143 shares outstanding as of March 25, 2026

Shares outstanding used 4,022,143 shares as reported to the reporting persons by the issuer on March 25, 2026

Excluded under blocker 111,453 shares excluded from Intracoastal Warrant 4 exercise due to 4.99% blocker provision

Potential ownership without blocker 322,699 shares stated hypothetical beneficial ownership if blocker provision did not apply

Warrants breakdown 2,334; 26,247; 147,059; 35,606 shares shares issuable upon exercise of Intracoastal Warrant 1–4 respectively

Key Terms

blocker provision, beneficial ownership, warrant

3 terms

blocker provision regulatory

"Intracoastal Warrant 4 contains a blocker provision under which the holder does not have the right to exercise"

beneficial ownership financial

"may have been deemed to have beneficial ownership of 211,246 shares of Common Stock"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

warrant financial

"shares of Common Stock issuable upon exercise of a third warrant held by Intracoastal"

A warrant is a time-limited financial contract that gives its holder the right to buy a company's shares at a set price before a specified date, like a coupon that lets you purchase stock at a fixed discount for a limited time. It matters to investors because warrants offer leveraged exposure to a stock’s upside and can dilute existing shareholders if exercised, so they affect potential gains and the company’s outstanding share count.

FAQ

What stake does DRMA reporting persons hold?

They report beneficial ownership of 211,246 shares, which the filing states equals 4.99% of common stock based on 4,022,143 outstanding shares as of March 25, 2026. The position derives from four warrants held by Intracoastal.

How is the 4.99% ownership in DRMA calculated?

The calculation uses 4,022,143 shares outstanding as of March 25, 2026 plus the shares issuable upon exercise of four warrants totaling 211,246 issuable shares. The filing ties the percentages explicitly to those figures.

What is the blocker provision mentioned in the DRMA filing?

Intracoastal Warrant 4 contains a blocker provision that prevents exercise to the extent it would increase beneficial ownership above 4.99%. The filing states 111,453 shares are excluded from the reported total due to that provision.

Who are the reporting persons in the DRMA 13G/A?

The filing is on behalf of Mitchell P. Kopin, Daniel B. Asher, and Intracoastal Capital LLC. Addresses and citizenship are listed; shared voting and dispositive power over the 211,246 shares is reported in the ownership table.

Would the reported ownership change if warrants are exercised?

Yes. The filing states that without the blocker provision the reporting persons may be deemed to beneficially own 322,699 shares. Any exercises or changes would require subsequent disclosure updating the share and percent figures.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/13/2026 - 04:40 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Dermata Therapeutics, Inc.

(Name of Issuer)

Common stock, par value $0.0001 per share

(Title of Class of Securities)

249845504

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 249845504

1

Names of Reporting Persons

Mitchell P. Kopin

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 211,246.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 211,246.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

211,246.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 249845504

1

Names of Reporting Persons

Daniel B. Asher

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 211,246.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 211,246.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

211,246.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 249845504

1

Names of Reporting Persons

Intracoastal Capital LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 211,246.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 211,246.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

211,246.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.99 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Dermata Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 3525 Del Mar Heights Rd., #322, San Diego, CA 92130
Item 2.
(a)	Name of person filing: This Schedule 13G is being filed on behalf of (i) Mitchell P. Kopin, an individual ("Mr. Kopin"), (ii) Daniel B. Asher, an individual ("Mr. Asher") and (iii) Intracoastal Capital LLC, a Delaware limited liability company ("Intracoastal" and together with Mr. Kopin and Mr. Asher, collectively the "Reporting Persons").
(b)	Address or principal business office or, if none, residence: The principal business office of Mr. Kopin and Intracoastal is 245 Palm Trail, Delray Beach, Florida 33483. The principal business office of Mr. Asher is 1011 Lake Street, Suite 311, Oak Park, Illinois 60301.
(c)	Citizenship: Mr. Kopin is a citizen of the United States of America. Mr. Asher is a citizen of the United States of America. Intracoastal is a Delaware limited liability company.
(d)	Title of class of securities: Common stock, par value $0.0001 per share
(e)	CUSIP No.: 249845504
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: As of the close of business on March 31, 2026, each of the Reporting Persons may have been deemed to have beneficial ownership of 211,246 shares of Common Stock, which consisted of (i) 2,334 shares of Common Stock issuable upon exercise of a warrant held by Intracoastal ("Intracoastal Warrant 1"), (ii) 26,247 shares of Common Stock issuable upon exercise of a second warrant held by Intracoastal ("Intracoastal Warrant 2"), (iii) 147,059 shares of Common Stock issuable upon exercise of a third warrant held by Intracoastal ("Intracoastal Warrant 3") and (iv) 35,606 shares of Common Stock issuable upon exercise of a fourth warrant held by Intracoastal ("Intracoastal Warrant 4"), and all such shares of Common Stock represent beneficial ownership of approximately 4.99% of the Common Stock, based on (1) 4,022,143 shares of Common Stock outstanding as of March 25, 2026, as reported to the Reporting Persons by the Issuer, plus (2) 2,334 shares of Common Stock issuable upon exercise of Intracoastal Warrant 1, (3) 26,247 shares of Common Stock issuable upon exercise of Intracoastal Warrant 2, (4) 147,059 shares of Common Stock issuable upon exercise of Intracoastal Warrant 3 and (5) 35,606 shares of Common Stock issuable upon exercise of Intracoastal Warrant 4. The foregoing excludes 111,453 shares of Common Stock issuable upon exercise of Intracoastal Warrant 4 because Intracoastal Warrant 4 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 4 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 4.99% of the Common Stock. Without such blocker provision, each of the Reporting Persons may have been deemed to have beneficial ownership of 322,699 shares of Common Stock.
(b)	Percent of class: 4.99%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 211,246
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 211,246
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Mitchell P. Kopin

Signature:	/s/ Mitchell P. Kopin
Name/Title:	Mitchell P. Kopin
Date:	05/13/2026

Daniel B. Asher

Signature:	/s/ Daniel B. Asher
Name/Title:	Daniel B. Asher
Date:	05/13/2026

Intracoastal Capital LLC

Signature:	/s/ Mitchell P. Kopin
Name/Title:	Mitchell P. Kopin, Manager
Date:	05/13/2026