DRMA Dermata Therapeutics Inc.

1.64
-0.08  -5%
Previous Close 1.72
Open 1.66
52 Week Low 1.41
52 Week High 6.95
Market Cap $13,658,952
Shares 8,328,629
Float 1,768,271
Enterprise Value $13,413,839
Volume 167,958
Av. Daily Volume 204,639
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Upcoming Catalysts

Drug Stage Catalyst Date
DMT310
Rosacea
Phase 2
Phase 2
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DMT310
Acne
Phase 3
Phase 3
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Drug Pipeline

Drug Stage Notes
DMT410
Aesthetic conditions
Phase 1b
Phase 1b
Phase 1b proof of concept results noted that patient's overall GAI at week 4 in 70% of patients, 80% of patients at week 8, and 60% of patients at week 12, noted November 19, 2021.
DMT310
Psoriasis
Phase 1b
Phase 1b
Phase 1b top-line data noted that 19.6% of responders had a Physician's Global Assessment (PGA) with a score of 0 or 1, 25.9% of 0 or 1 in total Psoriasis Area Severity Index (PASI), and a change from baseline in pruritis of -19.6% for the target lesion, noted October 18, 2021. Phase 2 trial planned.

Latest News

  1. SAN DIEGO, CA / ACCESSWIRE / January 13, 2022 / Dermata Therapeutics, Inc. (NASDAQ:DRMA) ("Dermata," or the "Company"), a clinical-stage biotechnology company focused on the treatment of medical and aesthetic skin conditions, today announced the appointment of Brittany Bradrick to its Board of Directors and its Audit Committee.

    Dermata Therapeutics, LLC Announced the Addition of Wendell Wierenga, Ph.D. to its Board of Directors

    "I am excited to welcome Brittany to our Board of Directors," commented Gerry Proehl, Dermata's Chief Executive Officer, President, and Chairman. "Brittany brings an immense amount of industry expertise to Dermata and has an accomplished background with over 25 years' experience in finance, strategy, and corporate development for life science companies, with both operational and advisory experience. Brittany's credentials…

    SAN DIEGO, CA / ACCESSWIRE / January 13, 2022 / Dermata Therapeutics, Inc. (NASDAQ:DRMA) ("Dermata," or the "Company"), a clinical-stage biotechnology company focused on the treatment of medical and aesthetic skin conditions, today announced the appointment of Brittany Bradrick to its Board of Directors and its Audit Committee.

    Dermata Therapeutics, LLC Announced the Addition of Wendell Wierenga, Ph.D. to its Board of Directors

    "I am excited to welcome Brittany to our Board of Directors," commented Gerry Proehl, Dermata's Chief Executive Officer, President, and Chairman. "Brittany brings an immense amount of industry expertise to Dermata and has an accomplished background with over 25 years' experience in finance, strategy, and corporate development for life science companies, with both operational and advisory experience. Brittany's credentials and achievements will greatly benefit our company as we continue to develop our product candidates DMT310 and DMT410 from our Spongilla technology platform."

    Ms. Bradrick has served as the Chief Financial Officer of Neurelis, Inc. since October 2021. Prior to joining Neurelis, Ms. Bradrick was Chief Operating Officer and Chief Financial Officer at ViaCyte. She previously served in strategy and corporate development positions for 10 years at Insulet Corporation as Vice President, Strategy & Corporate Development and at Abbott Diabetes Care as the Head of Global Development. Prior to these positions, Ms. Bradrick was an investment banker for the life science industry at Piper Jaffray, Credit Suisse, and Chase Securities for 10 years. Ms. Bradrick began her career as a Federal Reserve Bank Examiner. Ms. Bradrick holds an M.B.A. from the Johnson Graduate School of Management at Cornell University and a B.S. in Business Administration from the University of Missouri.

    Upon her appointment to the Board of Directors, Ms. Bradrick will join the Audit Committee of Dermata, replacing Dr. Steven Mento. Ms. Bradrick was selected as a director due to her extensive industry and financial experience. Dr. Mento will continue to serve as a director at Dermata, including participation on the Nominating and Corporate Governance Committee.

    About Dermata

    Dermata Therapeutics, Inc. is a clinical-stage biotechnology company focusing on the treatment of medical and aesthetic skin conditions. The Company's lead product candidate, DMT310, is the first product candidate being developed from its Spongilla technology platform. DMT310 is a once-weekly topical product candidate derived from a naturally sourced freshwater sponge with multiple unique mechanisms of action. DMT310 is in clinical development for the topical treatment of acne, psoriasis, and rosacea. Dermata's second product candidate, DMT410, uses its Spongilla technology as a new method for topical intradermal delivery of botulinum toxin for the treatment of multiple aesthetic and medical skin conditions. Dermata is headquartered in San Diego, California. For more information, please visit http://www.dermatarx.com/.

    Forward-Looking Statements

    Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are based on the Company's current beliefs and expectations and new risks may emerge from time to time. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors including, but are not limited to, statements related to: the potential development and commercialization of product candidates; the ability of the Company's product candidates to achieve applicable endpoints in clinical trials; whether the results of product candidates will lead to future product development; and whether the Company will have the ability to obtain adequate funding for future development of its product candidates. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks and uncertainties inherent in drug development, approval and commercialization, and the fact that past results of clinical trials may not be indicative of future trial results. For a discussion of these and other factors, please refer to Dermata's filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are qualified in their entirety by this cautionary statement and Dermata undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof, except as required by law.

    Investors:
    Sean Proehl
    Senior Director, Legal and Business Development

    SOURCE: Dermata Therapeutics



    View source version on accesswire.com:
    https://www.accesswire.com/683309/Dermata-Appoints-Life-Science-Executive-Brittany-Bradrick-to-Board-of-Directors

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  2. SAN DIEGO, CA / ACCESSWIRE / January 5, 2022 / Dermata Therapeutics, Inc. (NASDAQ:DRMA) ("Dermata" or the "Company"), a clinical-stage biotechnology company focusing on the treatment of medical and aesthetic skin conditions, today announced that Gerry Proehl, Dermata's Chairman of the Board, President, and Chief Executive Officer, will present a company overview at the H.C. Wainwright BioConnect Virtual Conference being held January 10-13, 2022. The on-demand presentation will be available starting at 7:00 a.m. ET on Monday, January 10, 2022 and can be accessed by clicking the following link: https://journey.ct.events/view/c8870e93-b827-4340-a020-11c53c2b4f59.

    Dermata Therapeutics, LLC Announced the Addition of Wendell Wierenga, Ph.D. to its Board of Directors

    A replay of the webcast will be available under the ‘News and Events' section of the…

    SAN DIEGO, CA / ACCESSWIRE / January 5, 2022 / Dermata Therapeutics, Inc. (NASDAQ:DRMA) ("Dermata" or the "Company"), a clinical-stage biotechnology company focusing on the treatment of medical and aesthetic skin conditions, today announced that Gerry Proehl, Dermata's Chairman of the Board, President, and Chief Executive Officer, will present a company overview at the H.C. Wainwright BioConnect Virtual Conference being held January 10-13, 2022. The on-demand presentation will be available starting at 7:00 a.m. ET on Monday, January 10, 2022 and can be accessed by clicking the following link: https://journey.ct.events/view/c8870e93-b827-4340-a020-11c53c2b4f59.

    Dermata Therapeutics, LLC Announced the Addition of Wendell Wierenga, Ph.D. to its Board of Directors

    A replay of the webcast will be available under the ‘News and Events' section of the Investor Relations tab of the company's website at: www.dermatarx.com. The webcast will be archived for approximately 90 days.

    About Dermata

    Dermata Therapeutics, Inc. is a clinical-stage biotechnology company focusing on the treatment of medical and aesthetic skin conditions. The Company's lead product candidate, DMT310, is the first product candidate being developed from its Spongilla technology platform. DMT310 is a once-weekly topical product candidate derived from a naturally sourced freshwater sponge with multiple unique mechanisms of action. DMT310 is in clinical development for the topical treatment of acne, psoriasis, and rosacea. Dermata's second product candidate, DMT410, uses its Spongilla technology as a new method for topical intradermal delivery of botulinum toxin for the treatment of multiple aesthetic and medical skin conditions. Dermata is headquartered in San Diego, California. For more information, please visit http://www.dermatarx.com/.

    Forward-Looking Statements

    Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are based on the Company's current beliefs and expectations and new risks may emerge from time to time. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other factors including, but are not limited to, statements related to: the potential development and commercialization of product candidates; the ability of the Company's product candidates to achieve applicable endpoints in clinical trials; whether the results of the Company's product candidates will lead to future product development; and whether the Company will have the ability to obtain adequate funding for future development of its product candidates. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks and uncertainties inherent in drug development, approval and commercialization, and the fact that past results of clinical trials may not be indicative of future trial results. For a discussion of these and other factors, please refer to Dermata's filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are qualified in their entirety by this cautionary statement and Dermata undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof, except as required by law.

    Investors:
    Sean Proehl
    Senior Director, Legal and Business Development

    SOURCE: Dermata Therapeutics



    View source version on accesswire.com:
    https://www.accesswire.com/681007/Dermata-to-Present-at-the-HC-Wainwright-BioConnect-Conference

    View Full Article Hide Full Article
    • Observed improvements in pore size, luminosity, brightness, and overall aesthetic appearance
    • Duration of effect lasted approximately 3 months
    • No potential distant spread of toxin observed

    SAN DIEGO, CA / ACCESSWIRE / November 19, 2021 / Dermata Therapeutics, Inc. ("Dermata," or the "Company") (NASDAQ:DRMA), a clinical-stage biotechnology company focused on the treatment of medical and aesthetic skin conditions, today announced positive efficacy and safety data from its Phase 1b proof of concept study evaluating a single treatment of DMT410 to treat multiple aesthetic skin conditions. This data was presented at The American Society for Dermatologic Surgery 2021 Annual Meeting held today through November 21, 2021.

    Dermata Therapeutics, LLC Announced the Addition of Wendell Wierenga, Ph.D. to its Board of Directors

    Dermata will be hosting a virtual…

    • Observed improvements in pore size, luminosity, brightness, and overall aesthetic appearance
    • Duration of effect lasted approximately 3 months
    • No potential distant spread of toxin observed

    SAN DIEGO, CA / ACCESSWIRE / November 19, 2021 / Dermata Therapeutics, Inc. ("Dermata," or the "Company") (NASDAQ:DRMA), a clinical-stage biotechnology company focused on the treatment of medical and aesthetic skin conditions, today announced positive efficacy and safety data from its Phase 1b proof of concept study evaluating a single treatment of DMT410 to treat multiple aesthetic skin conditions. This data was presented at The American Society for Dermatologic Surgery 2021 Annual Meeting held today through November 21, 2021.

    Dermata Therapeutics, LLC Announced the Addition of Wendell Wierenga, Ph.D. to its Board of Directors

    Dermata will be hosting a virtual investor event via live webcast later today at 4:30 pm ET. The live webcast may be accessed via the "Investors" section of Dermata's website or by clicking the following link.

    "We are excited to present the positive results from this proof of concept study of DMT410 showing our product candidate's ability to achieve topical administration of OnabotulinumtoxinA. During the trial, we saw results across multiple aesthetic endpoints that indicate DMT410's ability to provide targeted topical delivery of OnabotulinumtoxinA to the dermis," stated Christopher Nardo, Ph.D., Dermata's Senior Vice President of Development. "Patients demonstrated improvements in skin quality endpoints, such as brightness, luminosity, and reduction in pore size. Since we did not expect OnabotuliniumtoxinA to penetrate into the muscle, we saw minimal effect on the upper facial lines typically treated with injections of OnabotulinumtoxinA. Based on these data we believe that most of the toxin remained in the dermis limiting potential distant spread of toxin and its side effects."

    DMT410 Phase 1b Aesthetic Study Design

    The Phase 1b proof of concept study was an open-label, single-center study of 10 female patients receiving one treatment of DMT410, which consists of one topical application of Spongilla powder followed by one topical application of 64 units of OnabotulinumtoxinA (BOTOX®) to the upper face. Patients were observed at 4 weeks, 8 weeks, 12 weeks, and 16 weeks to collect safety and efficacy data and track duration of effect.

    The endpoints of the study included reduction in pore size, improvements in the Global Aesthetic Improvement scale, improvement in luminosity and brightness, reduction in sebum production, reduction in fine lines, and reduction of glabellar, forehead, and lateral canthal lines.

    DMT410 Phase 1b Aesthetic Study Results

    DMT410 showed an improvement in the following key facial aesthetic measurements:

    • Global Aesthetic Improvement (GAI) - the physician measured an improvement in patient's overall GAI at week 4 in 70% of patients, 80% of patients at week 8, and 60% of patients at week 12. GAI is measured on a 4-point scale, with at least a 1-point reduction being a 25% improvement. The mean improvement in GAI score from baseline was 0.8 at week 8.
    • Pore size - the physician observed an improvement in pore size in 50% of patients at week 4, 60% of patients at week 8, and 50% of patients at week 12. An improvement in pore size is measured on a 4-point scale, with at least a 1-point reduction being a 25% decrease in pore size. The mean improvement in pore size from baseline was about 0.7 at week 8.
    • Luminosity - the intensity of light area reflected on the skin, improved in 50% of patients at week 4, 90% of patients at week 8, and 90% of patients at week 12. The mean improvement of luminosity from baseline, on a scale of 0 to 10 points, peaked at 1.4 points of improvement at week 12.
    • Brightness - a measurement of the combined uniformity of skin coloring and texture, improved in 30% of patients at week 4, 60% of patients at week 8, and 60% of patients at week 12. The mean improvement of brightness from baseline, on a scale of 0 to 10 points, peaked at 0.7 points of improvement at week 12.
    • Upper facial lines - a measurement of the visible improvement of a patient's forehead, lateral canthal, and glabellar lines did not show clinically meaningful improvement. This result is consistent with the knowledge that botulinum toxin is only approved for injections into the muscle to treat these endpoints.

    In terms of safety and tolerability, DMT410 was generally safe and well tolerated with no adverse events reported, no withdrawals due to treatment-related adverse events, and no potential distant spread of toxin reported.

    "We believe that DMT410's ability to achieve the topical delivery of botulinum toxin into the dermis increases the market opportunity for botulinum toxins as DMT410 would be complementary to injections of botulinum toxin into the muscles that treat forehead, lateral canthal, and glabellar lines," commented Gerry Proehl, Dermata's Chairman, President, and Chief Executive Officer. "We are pleased to have been selected to present these data at the American Society for Dermatological Surgery, and we look forward to our upcoming investor webcast to further discuss our findings."

    About DMT410

    DMT410 is Dermata's combination treatment regimen that uses the unique mechanical features of its Spongilla technology to facilitate the intradermal delivery of botulinum toxin by topical application rather than injection with a needle. The treatment consists of an initial topical application of Dermata's proprietary Spongilla powder to the treatment area where the spicules penetrate the stratum corneum creating microchannels into the dermis allowing for the topical application and penetration of botulinum toxin. Dermata is investigating DMT410 as a new method for topical intradermal delivery of botulinum toxin for the treatment of multiple aesthetic and medical skin conditions.

    Conference Call

    Dermata will host a conference call and a live webcast at 1:30 p.m. PT / 4:30 p.m. ET on November 19, 2021 to discuss the results. Individuals interested in listening to the conference call may do so by dialing (888) 506-0062 for domestic callers, or (973) 528-0011 for international callers and reference conference ID: 497530; or from the webcast link in the investor relations section of the company's website at: www.dermatarx.com. A replay of the call will be available until Friday, December 03, 2021. To access the replay, dial (877) 481-4010 or (919) 882-2331 and reference conference ID: 43543.

    About Dermata

    Dermata Therapeutics, Inc. is a clinical-stage biotechnology company focusing on the treatment of medical and aesthetic skin conditions. The Company's lead product candidate, DMT310, is the first product candidate being developed from its Spongilla technology platform. DMT310 is under clinical development for the treatment of acne, psoriasis, and rosacea. Dermata's second product candidate, DMT410, uses its Spongilla technology as a new method for topical intradermal delivery of botulinum toxin for the treatment of multiple aesthetic and medical skin conditions. Dermata is headquartered in San Diego, California. For more information, please visit www.dermatarx.com.

    Forward-Looking Statements

    Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are based on the Company's current beliefs and expectations and new risks may emerge from time to time. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors including, but are not limited to, statements related to: the potential development and commercialization of product candidate DMT410 in aesthetic or medical skin conditions; the ability of the Company to find a partner with a botulinum toxin; the timing of when additional studies in DMT410 may occur, if any; the design of additional studies to be conducted; the safety and tolerability profile of DMT410; and the Company's ability to obtain funding for operations, development, and commercialization of DMT410. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks and uncertainties inherent in drug development, approval and commercialization, and the fact that past results of clinical trials may not be indicative of future trial results. For a discussion of these and other factors, please refer to Dermata's filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are qualified in their entirety by this cautionary statement and Dermata undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof, except as required by law.

    Contact:
    Sean Proehl
    Senior Director, Legal and Business Development

    SOURCE: Dermata Therapeutics



    View source version on accesswire.com:
    https://www.accesswire.com/673720/Dermata-Announces-Positive-Results-from-DMT410-Phase-1b-Proof-of-Concept-Study-for-Aesthetic-Skin-Conditions

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    • Topline results expected in second half of 2022
    • Rosacea affects about 16 million patients in the U.S.

    SAN DIEGO, CA / ACCESSWIRE / November 17, 2021 / Dermata Therapeutics, Inc. ("Dermata," or the "Company") (NASDAQ:DRMA), a clinical-stage biotechnology company focused on the development of novel dermatology therapies for the medial and aesthetic markets, today announced it has enrolled the first patient in its Phase 2 trial of DMT310 for the once-weekly treatment of moderate-to-severe rosacea. DMT310 is Dermata's lead product candidate, consisting of a once-weekly topical treatment with both mechanical and chemical mechanisms of action, currently being investigated to treat multiple inflammatory skin conditions, including rosacea, acne, and…

    • Topline results expected in second half of 2022
    • Rosacea affects about 16 million patients in the U.S.

    SAN DIEGO, CA / ACCESSWIRE / November 17, 2021 / Dermata Therapeutics, Inc. ("Dermata," or the "Company") (NASDAQ:DRMA), a clinical-stage biotechnology company focused on the development of novel dermatology therapies for the medial and aesthetic markets, today announced it has enrolled the first patient in its Phase 2 trial of DMT310 for the once-weekly treatment of moderate-to-severe rosacea. DMT310 is Dermata's lead product candidate, consisting of a once-weekly topical treatment with both mechanical and chemical mechanisms of action, currently being investigated to treat multiple inflammatory skin conditions, including rosacea, acne, and psoriasis.

    Dermata Therapeutics, LLC Announced the Addition of Wendell Wierenga, Ph.D. to its Board of Directors

    "We are excited to enroll the first patient in our Phase 2 trial of DMT310 for the treatment of moderate-to-severe rosacea and believe that due to the similarities between rosacea and acne we may see a similar reduction of inflammatory lesions in rosacea that we previously saw in our DMT310 Phase 2 acne trial," commented Christopher Nardo, Ph.D., Dermata's Senior Vice President of Development. "Additionally, based on in vitro data we have generated, DMT310 inhibits the production of IL-17, which we believe to be a cytokine that plays a role in the inflammatory pathway of rosacea. The downregulation of IL-17 coupled with the mechanical actions of DMT310's spicules could make DMT310, if approved, the first once-weekly topical product candidate to help treat the multiple symptoms of rosacea."

    "This Phase 2 trial has the potential to reinforce the unique treatment effect of DMT310, and its ability to treat a variety of inflammatory skin conditions with once-weekly topical applications, unlike anything currently available on the market," stated Gerry Proehl, Dermata's Chairman, President, and Chief Executive Officer. "One of our core objectives at Dermata is to change how patients treat their skin conditions by providing them with unique and differentiated dermatology products in areas where there remains a high unmet need."

    DMT310 Phase 2 Rosacea Trial Design

    DMT310 Phase 2 rosacea trial is a 12-week, multi-center, randomized, double-blind, placebo-controlled trial designed to evaluate the tolerability, safety and efficacy of once-weekly dosing of DMT310 in 180 moderate-to-severe rosacea patients. The primary endpoints include the mean change in inflammatory lesion counts and the Investigator's Global Assessment (IGA) using a 5-point scale, with IGA treatment success being defined as an IGA score of ‘clear' or ‘almost clear' and a 2-point improvement from baseline at week 12. Dermata expects to have topline results in the second half of 2022.

    About DMT310

    DMT310 is Dermata's lead product candidate which incorporates the proprietary, multifaceted, Spongilla technology to topically treat a variety of dermatological conditions. DMT310 is a multifactorial, naturally derived product candidate from a unique freshwater sponge that is harvested under specific environmental conditions and then processed into a powder. The powder is then mixed with a fluidizing agent immediately prior to its once-weekly application. The powder contains needle-like spicules that mechanically act to stimulate collagen production and create micro-channels in the skin, allowing for the penetration of chemical compounds. In addition to its mechanical components, DMT310's organic material contains chemical compounds that when tested in vitro, have shown a dose dependent inhibition of both IL-17A and IL-17F, which are believed to be major effector cytokines in the inflammatory pathway of rosacea.

    About Dermata

    Dermata Therapeutics, Inc. is a clinical-stage biotechnology company focusing on the treatment of medical and aesthetic skin conditions. The Company's lead product candidate, DMT310, is the first product candidate being developed from its Spongilla technology platform. DMT310 is under clinical development for the treatment of acne, psoriasis, and rosacea. Dermata's second product candidate, DMT410, uses its Spongilla technology as a new method for topical intradermal delivery of botulinum toxin for the treatment of multiple aesthetic and medical skin conditions. Dermata is headquartered in San Diego, California. For more information, please visit http://www.dermatarx.com/.

    Forward-Looking Statements

    Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are based on the Company's current beliefs and expectations and new risks may emerge from time to time. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other factors including, but are not limited to, statements related to: the potential development and commercialization of product candidate DMT310; the progress of patient enrollment and dosing in the Company's clinical trials; the ability of the Company's product candidates to achieve applicable endpoints in the clinical trials; whether the results of DMT310 will lead to future product development; the timing of when future clinical results of DMT310 will be announced; and whether the Company will have the ability to obtain adequate funding for future development of its product candidates. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks and uncertainties inherent in drug development, approval and commercialization, and the fact that past results of clinical trials may not be indicative of future trial results. For a discussion of these and other factors, please refer to Dermata's filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are qualified in their entirety by this cautionary statement and Dermata undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof, except as required by law.

    Contact:
    Sean Proehl
    Senior Director, Legal and Business Development

    SOURCE: Dermata Therapeutics



    View source version on accesswire.com:
    https://www.accesswire.com/673260/Dermata-Announces-First-Patient-Enrolled-in-its-Phase-2-Trial-of-DMT310-for-the-Treatment-of-Moderate-to-Severe-Rosacea

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  3. - Announced positive topline results from DMT310 proof of concept (POC) study in mild-to-moderate psoriasis -

    - Closed upsized $18.0 million initial public offering (IPO) on Nasdaq Capital Market -

    - Topline results from DMT410 POC study in multiple aesthetic skin conditions to be presented November 19, 2021 -

    - On track to initiate DMT310 Phase 2 study for moderate-to-severe rosacea in Q4 2021 -

    SAN DIEGO, CA / ACCESSWIRE / November 15, 2021 / Dermata Therapeutics, Inc. (NASDAQ:DRMA)(NASDAQ:DRMAW) ("Dermata" or the "Company"), a clinical-stage biotechnology company focusing on the treatment of medical and aesthetic skin conditions, today reported financial results for the third quarter ended September 30, 2021 and highlighted recent corporate progress…

    - Announced positive topline results from DMT310 proof of concept (POC) study in mild-to-moderate psoriasis -

    - Closed upsized $18.0 million initial public offering (IPO) on Nasdaq Capital Market -

    - Topline results from DMT410 POC study in multiple aesthetic skin conditions to be presented November 19, 2021 -

    - On track to initiate DMT310 Phase 2 study for moderate-to-severe rosacea in Q4 2021 -

    SAN DIEGO, CA / ACCESSWIRE / November 15, 2021 / Dermata Therapeutics, Inc. (NASDAQ:DRMA)(NASDAQ:DRMAW) ("Dermata" or the "Company"), a clinical-stage biotechnology company focusing on the treatment of medical and aesthetic skin conditions, today reported financial results for the third quarter ended September 30, 2021 and highlighted recent corporate progress.

    "The third quarter of 2021 was transformational for Dermata, as we completed our IPO, bolstered our executive team and Board of Directors, and continued to progress our clinical pipeline in multiple indications," commented Gerry Proehl, Dermata's Chairman, President and Chief Executive Officer. "In October, we announced positive topline results from our Phase 1b proof of concept clinical trial of our lead candidate DMT310 for the treatment of mild-to-moderate psoriasis. Based upon the improvements witnessed across all three of our exploratory endpoints, combined with the safety and tolerability profile observed, we plan to continue investigation of DMT310 in psoriasis. Moving forward, we are excited to build on our momentum and present topline results from our Phase 1b proof of concept study of DMT410 in multiple aesthetic skin conditions and to start enrolling our Phase 2 trial of DMT310 in moderate-to-severe rosacea," concluded Mr. Proehl.

    Corporate Highlights

    • Announced Positive Topline Results from Phase 1b POC Clinical Trial of DMT310 in Mild-to-moderate Psoriasis. On October 18, 2021, Dermata announced results from its DMT310 product candidate's once-weekly use in mild-to-moderate psoriasis patients. DMT310 demonstrated efficacy improvements in PGA, PASI and pruritus scores for the target lesions as well as an acceptable safety and tolerability profile. DMT310 achieved a PGA score of 0 or 1 for the target lesion in 29.6% of patients, a total PASI score of 0 or 1 for the target lesion in 25.9% of patients, and a 19.6% reduction from baseline in pruritus at week 8.
    • Closed Upsized $18.0 Million Initial Public Offering on Nasdaq Capital Market. In August, the company closed its IPO of 2,571,428 shares of its common stock and accompanying warrants to purchase up to 2,957,142 shares of common stock, for gross proceeds of approximately $18.0 million, before deducting underwriting discounts and offering expenses. All of the shares of common stock and warrants were offered by the Company.
    • Expanded Board of Directors. Subsequent to the successful completion of the Company's IPO, Dermata appointed four experienced life science leaders to its Board of Directors, including Steven Mento, Ph.D., Mary Fisher, Kathleen Scott, and Andrew Sandler, M.D., joining Gerry Proehl, David Hale, and Wendell Wierenga, Ph.D.
    • Expanded Executive Team. On September 1, 2021, Dermata appointed Kyri Van Hoose as Chief Financial Officer. Ms. Van Hoose is a strategic and operational finance leader with over 20 years of experience, including more than 15 years in the life sciences industry.

    Anticipated Upcoming Milestones

    • Aesthetics: Set to announce topline results from DMT410 Phase 1b POC study in multiple aesthetic skin conditions, which will also be presented in a video presentation at the American Society for Dermatologic Surgery 2021 Annual Meeting, to be held November 19-21, 2021. Dermata will also be holding a webcast on November 19, 2021 at 4:30PM ET that can be viewed by clicking on the following link.
    • Rosacea: Initiation of DMT310 Phase 2 study in moderate-to-severe rosacea expected 4Q 2021.
    • Psoriasis: Completion of ex vivo human skin model to inform the clinical study design for a Phase 2 trial of DMT310 in psoriasis.
    • Acne: Initiation of non-clinical studies in preparation for an End of Phase 2 meeting with the FDA.

    Third Quarter 2021 Financial Results

    As of September 30, 2021, Dermata had $12.6 million in cash, compared to $530,400 as of December 31, 2020. Dermata received net proceeds of $15.4 million from the sale of its common stock and warrants in its IPO which closed in August 2021, which is expected to fund operations into the fourth quarter of 2022.

    Research and development expenses for the third quarter of 2021 were $0.8 million, compared to $0.1 million for the same period in 2020. Research and development expenses for the nine months ended September 30, 2021 were $2.3 million, compared to $1.5 million for the same period in 2020. The increase in research and development expenses was primarily due to clinical trial and non-clinical expenses and manufacturing costs, as well as salaries, benefits, and stock-based compensation expense. Stock-based compensation expense attributable to research and development totaled $30,075 and $0.3 million for the three and nine months ended September 30, 2021, respectively.

    General and administrative expenses for the third quarter of 2021 were $0.9 million, compared to $0.4 million for the same period in 2020. General and administrative expenses for the nine months ended September 30, 2021 were $3.0 million, compared to $1.2 million for the same period in 2020. The increase in general and administrative expenses was primarily related to an increase in professional fees, insurance costs, and salaries, benefits, and stock-based compensation expense. Stock-based compensation expense attributable to general and administrative totaled $0.1 million and $1.1 million for the three and nine months ended September 30, 2021, respectively.

    About Dermata Therapeutics

    Dermata Therapeutics, Inc. is a clinical-stage biotechnology company focusing on the treatment of medical and aesthetic skin conditions. The Company's lead product candidate, DMT310, is the first product candidate being developed from its Spongilla technology platform. DMT310 is a once-weekly topical product candidate derived from a naturally sourced freshwater sponge with multiple unique mechanisms of action. DMT310 is currently under clinical development for the treatment of acne, psoriasis, and rosacea. The Company's second product candidate, DMT410, uses its Spongilla technology as a new method for topical intradermal delivery of botulinum toxin for the treatment of multiple aesthetic skin conditions. Dermata is headquartered in San Diego, California. For more information, please visit http://www.dermatarx.com/.

    Forward-Looking Statements

    Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are based on the Company's current beliefs and expectations and new risks may emerge from time to time. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors including, but are not limited to, statements related to: expectations with regard to the timing of data events; the Company's belief that its current cash, including net proceeds from its recent financing, will be sufficient to fund its operations into the fourth quarter of 2022; the success, cost, and timing of its product candidates DMT310 and DMT410 development activities and ongoing and planned clinical trials; whether the results of DMT310 or DMT410 will lead to future product development; and the Company's estimates regarding expenses, and needs for additional financing. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks and uncertainties inherent in drug development, approval and commercialization, and the fact that past results of clinical trials may not be indicative of future trial results. For a discussion of these and other factors, please refer to Dermata's filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are qualified in their entirety by this cautionary statement and Dermata undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof, except as required by law.

    DERMATA THERAPEUTICS, INC.
    (Formerly Dermata Therapeutics, LLC)
    Condensed Balance Sheets
    September 30, 2021 December 31, 2020
    (unaudited)
    Assets
    Cash
    $12,603,341 $530,400
    Other current assets
    1,082,446 75,053
    Total assets
    13,685,787 605,453
    Liabilities
    Accounts payable
    769,863 104,276
    Accrued liabilities
    425,369 133,477
    Convertible notes
    - 2,989,479
    Debt
    - 556,160
    Total liabilities
    1,195,232 3,783,392
    Equity (deficit)
    12,490,555 (3,177,939)
    Total liabilities and equity
    $13,685,787 $605,453
    DERMATA THERAPEUTICS, INC.
    (Formerly Dermata Therapeutics, LLC)
    Condensed Statements of Operations
    (unaudited)
    Three Months Ended September 30, Nine Months Ended September 30,
    2021 2020 2021 2020
    Operating expenses
    Research and development (1)
    $799,779 $120,466 $2,347,564 $1,493,520
    General and administrative (1)
    912,490 419,596 2,956,444 1,187,906
    Total operating expenses
    1,712,269 540,062 5,304,008 2,681,426
    Loss from operations
    (1,712,269) (540,062) (5,304,008) (2,681,426)
    Interest expense, net
    651 57,333 45,613 158,791
    Net loss
    $(1,712,920) $(597,395) $(5,349,621) $(2,840,217)
    Deemed dividend upon redemption of 5,221,156 shares
    of Series 1c preferred stock
    $269,038 $- $269,038 $-
    Deemed dividend upon the amendment of terms of
    $2,293,199 $- $2,293,199 $-
    the Series 1d convertible preferred stock
    Net loss attributable to common stockholders
    $(4,275,157) $(597,395) $(7,911,858) $(2,840,217)
    Net loss per common share, basic and diluted
    $(0.86) $(0.31) $(2.69) $(1.49)
    Weighted average common shares outstanding, basic and diluted
    4,980,306 1,911,009 2,945,351 1,911,009
    (1) Includes the following stock-based compensation expense
    Research and development
    $30,075 $- $310,046 $-
    General and administrative
    $112,580 $- $1,106,645 $-

    Investors:
    Sean Proehl
    Senior Director, Legal and Business Development

    SOURCE: Dermata Therapeutics



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