Dermata Therapeutics Q1 cash $8.8M; FDA agrees CMC supports Phase 3 for acne drug DMT310

Dermata Therapeutics, Inc.

Cash and cash equivalents $8.8M as of March 31, 2023, up from $6.2M at Dec 31, 2022.
Raised $5.0M gross from March 2023 public offering of common stock and warrants.
FDA agreed that CMC procedures are sufficient to initiate Phase 3 studies of DMT310 for moderate-to-severe acne.
R&D expenses $1.2M for Q1 2023, down from $1.6M in Q1 2022; G&A $1.1M vs $1.2M.
Expects cash to fund operations into Q1 2024; awaiting FDA feedback on End of Phase 2 meeting by June 2023.

item 2.02 item 7.01 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Dermata Therapeutics, Inc. reported financial results for the first quarter ended March 31, 2023.

Period: the first quarter ended March 31, 2023
Result: reported results

Exact text from the filing

reported financial results for the first quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001654954-23-006209

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