Every 10-Q that Dermata Therapeutics, Inc. Warrant (DRMAW) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow DRMAW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full DRMAW filings page.
Dermata Therapeutics, Inc. reports continued pre-revenue operations for the quarter and six months ended June 30, 2026, as it pivots from prescription dermatology to direct-to-consumer Tome skincare, targeting an initial product launch on August 25, 2026. Total assets were $5.3 million, including $4.4 million of cash and cash equivalents, down from $7.9 million and $7.5 million at December 31, 2025. Stockholders’ equity declined to $3.5 million as accumulated deficit grew to $78.0 million.
For the three and six months ended June 30, 2026, Dermata recorded net losses of $2.97 million and $4.81 million, compared with $1.70 million and $4.00 million in the prior-year periods, driven mainly by higher selling, general and administrative expenses of $2.80 million and $4.34 million as the company invests in compliance, marketing, and commercial readiness. Net cash used in operating activities was $4.90 million for the first half of 2026, partially offset by $1.99 million of ATM equity proceeds, resulting in a cash burn that management expects will fund operations only into the fourth quarter of 2026.
The company explicitly states that recurring losses, negative operating cash flows, and limited cash resources raise substantial doubt about its ability to continue as a going concern for one year from issuance of these financial statements. Management plans to rely on additional equity or debt financings and future product revenues, but acknowledges no assurance such capital will be available on favorable terms, if at all. Risks include heavy dependence on a single Russian supplier for Spongilla raw material, significant warrant and potential equity overhang, related-party marketing spend, and ongoing litigation and arbitration with former licensor Villani that could result in injunctive relief or money damages and adversely affect operations.
Dermata Therapeutics, Inc. reported unaudited second-quarter financials showing total assets of $6.64 million and cash and cash equivalents of $6.48 million as of June 30, 2025, which the company says will fund operations into the second quarter of 2026. The company recorded a net loss of $4.0 million for the six months ended June 30, 2025, and had an accumulated deficit of $69.7 million. Equity financing activity in early 2025 provided material cash inflows, including net proceeds of approximately $5.7 million from a warrant inducement and approximately $2.2 million from a January 2025 PIPE.
Clinical update: Dermata announced that its XYNGARI(TM) Phase 3 STAR-1 trial met all co-primary endpoints at week 12, with inflammatory lesion reductions of -16.8 versus -13.1 for placebo, noninflammatory lesion reductions of -17.3 versus -12.4 for placebo, and IGA responder rates of 29.4% versus 15.2% for placebo. Management notes a second Phase 3 trial (STAR-2) is required by the FDA. The company also discloses supply concentration risk (a Russian supplier) and Nasdaq minimum bid non-compliance with an exception period granted through August 14, 2025, creating ongoing listing risk.