On January 24, Dermata Therapeutics Inc. (DRMA) stock advanced by a further 8.67% in the after-hours. Before that, the stock had already added 5.49% during the regular trading session.
DRMA stock closed the regular session at $1.73, after fluctuating between $1.43 and $1.73. The stock went on to add a further $0.15 in the after-hours to reach $1.88 on Monday.
Dermata Therapeutics Inc. which is a clinical-stage medical dermatology company has a market capitalization of $13.66 million. Currently, the company has 8.33 million shares outstanding in the market.
DRMA stock Movement
On January 13, the company announced the addition of a new director to its board. Following the announcement, the stock started gaining on January 14 and hence entered an uptrend. DRMA continued the uptrend till January 21, when it suffered some loss. The stock has since been once again on a bullish path.
Although there is no new official announcement, SEC filing, or any upcoming event, DRMA has added 11.61% in the past five days. Moreover, the stock suffered a loss of 6.99% last month and 61.73% in the past three months.
Recent Developments
Recently, on January 13, DRMA announced the appointment of Brittany Bradrick to its Board as well as the Audit Committee. Ms. Bradrick has vast experience of over 25 years in finance, strategy, and corporate development for life science companies. Furthermore, she has served with Neurelis, ViaCyte, Insulet Corporation, Abbott Diabetes Care, and many others. Ms. Bradrick has served at various positions with these companies including CFO, COO, VC Strategy & Corporate Development, Head of Global Development, and others. Prior to this, she also served as the investment banker for the life science industry.
Before that, the company participated in the H.C. Wainwright BioConnect Virtual Conference which took place on January 10-13, 2022. DRMA’s Chairman of the board, president and CEO, Gerry Proehl, presented an overview of the company at the conference.
DRMA’s Financial Analysis
On November 15, the company declared its financial results for the third quarter of 2021, which ended on September 30.
In the third quarter of 2021, the company had research and development expenses of $0.8 million. Comparatively, R&D expenses were $0.1 million in the year-ago quarter.
Additionally, the general and administrative expenses in Q3 2021 were $0.9 million against $0.4 million in Q3 of 2020.
DRMA ended the third quarter with cash of $12.6 million on September 30, 2021.
