Dermata Therapeutics, Inc. (DRMA) is a biopharmaceutical company engaged in bringing the therapeutic potential for different dermatological conditions. One of the lead candidates of the company is DMT310, which is under the clinical development stage for treating acne, psoriasis, and rosacea. It is derived from the freshwater sponge and utilizes the company’s Spongilla technology portfolio. Another candidate is DMT410 is used for treating numerous aesthetic and medical skin conditions.
The price of DRMA stock during the regular trading on February 4, 2022, was $2.22 with a 0.91% incline. At last check in the aftermarket, the stock dropped by 18.92%.
DRMA: Events and Happenings
On February 4, 2022, DRMA reported about multiple SEC filings including Securities Act Rules of free writing prospectuses, current report, and general form of the registration statement for face-amount certificate companies. On January 13, 2022, DRMA reported about appointing Brittany Bradrick to the Audit Committee and Board of Directors of the company. She had already served as CFO of Neurelis, Inc., and ViaCyte.
On January 5, 2022, DRMA announced that its senior leadership participated at the Virtual H.C. Wainwright BioConnect Conference on January 10-13, 2022. On November 19, 2021, DRMA announced hopeful safety and efficacy data from Phase 1 clinical trials of DMT410. The results were presented at the 2021Annual Meeting of the American Society for Dermatologic Surgery. On November 17, 2021, DRMA reported about the enrollment of the preliminary patients in Phase 2 clinical trials of DMT310.
DRMA: Key Financials
On November 15, 2021, DRMA released its financial results for the third quarter ended September 30, 2021. Some of the key updates are below.
EPS
Basic and diluted net loss per share attributable to the company’s common stockholders in Q3 2021 was $4.2 million or $0.86 against $0.59 million or $0.31 in the same period of 2020. The company missed the estimated EPS by $0.61.
Assets
Total assets of the company recorded in Q3 2021 were $13.6 million.
Conclusion
DRMA stock is 57% down the past six months but it outperformed in the last one month period by 41%. The company’s stock dipped again in Friday’s aftermarket session as the result of multiple SEC filings reported by the company. There is no other recent press release or event on the company’s calendar. The analysts are estimating the company’s EPS for the upcoming quarter to be -$0.39.
