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DRMA

Dermata Therapeutics, Inc.

DRMA

Dermata Therapeutics, Inc. • NASDAQ
$3.14 ▲ 3.63% (+0.11)
Market Cap $2.14 M
52w High $23.70
52w Low $2.36
Dividend Yield 0%
P/E 0.21
Volume 4.15K
Outstanding Shares 681.56K

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $1.761M ▼ $-1.692M ▲ 0% $-1.65 ▲ $-1.692M ▲
Q2-2025 $0 $1.773M ▼ $-1.701M ▲ 0% $-1.66 ▲ $-1.701M ▲
Q1-2025 $0 $2.34M ▼ $-2.304M ▲ 0% $-4.47 ▲ $-2.304M ▲
Q4-2024 $0 $3.2M ▼ $-3.151M ▲ 0% $-20.4 $-3.151M ▲
Q3-2024 $0 $3.226M $-3.173M 0% $-20.4 $-3.173M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $4.664M ▼ $5.071M ▼ $1.111M ▲ $3.96M ▼
Q2-2025 $6.481M ▼ $6.641M ▼ $1.026M ▼ $5.614M ▼
Q1-2025 $9.719M ▲ $10.005M ▲ $2.704M ▲ $7.301M ▲
Q4-2024 $3.162M ▼ $3.534M ▼ $1.973M ▲ $1.561M ▼
Q3-2024 $6.144M $6.687M $1.946M $4.741M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.692M ▲ $-1.804M ▲ $0 $-12.988K ▲ $-1.817M ▲ $-1.804M ▲
Q2-2025 $-1.701M ▲ $-2.69M ▼ $0 $-547.857K ▼ $-3.238M ▼ $-2.69M ▼
Q1-2025 $-2.304M ▲ $-1.934M ▲ $0 $8.492M ▲ $6.558M ▲ $-1.934M ▲
Q4-2024 $-3.151M ▲ $-2.914M ▲ $0 $-68.568K ▼ $-2.982M ▼ $-2.914M ▲
Q3-2024 $-3.173M $-3.419M $0 $4.616M $1.197M $-3.419M

Five-Year Company Overview

Income Statement

Income Statement Dermata is still a pre-revenue company: it has not generated meaningful product sales over the last several years, so all activity shows up as research and operating costs with no offsetting income. Operating and net losses appear relatively small in absolute terms but are consistent, showing a business still in the development and transition stage rather than in commercial scale-up. Reported per‑share losses look extremely large mainly because of repeated reverse stock splits, which change the math on earnings per share without altering the underlying dollar loss. Overall, the income statement reflects a company funding R&D and strategic pivot work, not yet a going concern supported by product revenue.

Balance Sheet

Balance Sheet The balance sheet looks very thin, with only modest levels of cash and total assets and no meaningful debt reported. Equity is also quite small, which signals a limited capital base and makes the company sensitive to any funding gaps or unexpected costs. The absence of debt lowers financial leverage risk, but it also suggests Dermata has relied primarily on issuing equity to finance operations. Taken together, the balance sheet paints the picture of an early-stage biotech with very limited resources and a need for careful cash management and future capital access.

Cash Flow

Cash Flow Cash flows from operations have been consistently negative, reflecting ongoing spending on research, clinical work, and the OTC pivot without any offsetting cash inflows from product sales. Free cash flow is similarly negative, although the company does not appear to be investing heavily in physical assets, so most cash use is operating rather than capital spending. This pattern is typical for a small clinical‑stage or pre-commercial biotech but means Dermata remains dependent on external financing to continue its plans. The key risk is whether the company can secure enough capital to bridge the period between development and meaningful OTC product revenue.

Competitive Edge

Competitive Edge Dermata’s competitive story rests on a differentiated technology rather than on current market share, since it has no commercial products yet. The Spongilla platform and once‑weekly acne treatment concept provide a clear point of distinction versus typical daily OTC acne products, supported by prior clinical data from the prescription program. Its patent portfolio and scientific backing can help create a moat against direct copycats, but the company is entering a crowded OTC skincare space dominated by large brands with strong marketing power and distribution. Success will depend on Dermata’s ability to turn its scientific edge into consumer awareness, brand trust, and repeat purchases in a highly competitive, promotion‑driven category.

Innovation and R&D

Innovation and R&D Innovation is the clear strength of Dermata’s story. The Spongilla platform offers a novel mechanical‑plus‑chemical mechanism and has been tested in formal clinical trials, giving it more scientific validation than many cosmetic‑focused OTC competitors. The technology appears versatile, with potential applications across acne, inflammatory skin conditions, and possibly aesthetic uses such as topical delivery of larger molecules. The main uncertainty is not whether the platform is interesting scientifically, but whether the company can prioritize the right indications, design consumer-friendly products, and execute the shift from a strictly clinical mindset to a commercially oriented, consumer‑product R&D approach.

Summary

Dermata is a very early-stage, pre-revenue biotech pivoting toward the OTC skincare market with a single core technology platform. Financially, it has minimal assets, ongoing cash burn, and no product revenue, which keeps funding and dilution risk front and center. Strategically, the story is built around patented Spongilla technology, clinical‑grade data, and a differentiated once‑weekly acne kit targeted for launch in the middle of the decade. The upside case depends on successful execution of the OTC launch, brand building, and expansion into additional indications, while the downside risks center on funding constraints, competitive pressure from large skincare players, and the possibility that consumer adoption does not match expectations.

NEWS

November 14, 2025 · 4:05 PM UTC

Dermata Therapeutics Provides Corporate Update and Reports Third Quarter 2025 Financial Results

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October 2, 2025 · 8:00 AM UTC

Dermata Announces Acceptance of Patent Application for Next-Generation Acne Treatment by Australian Patent Office

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September 17, 2025 · 1:00 AM UTC

Dermata Therapeutics Announces Presentation of Abstract at the European Academy of Dermatology and Venereology Congress 2025

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September 16, 2025 · 8:35 AM UTC

Dermata Therapeutics to Present at the Life Sciences Virtual Investor Forum September 18th

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September 10, 2025 · 8:00 AM UTC

Dermata Therapeutics Announces Strategic Pivot to Over-the-Counter Skin Care Treatments

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