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DRMAW

Dermata Therapeutics, Inc.

DRMAW

Dermata Therapeutics, Inc. • NASDAQ
$0.02 ▲ 1.65% (+0.00)
Market Cap $12609
52w High $0.02
52w Low $0.02
Dividend Yield 0%
P/E -0.01
Volume 2.43K
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 pure R&D story with no product sales yet. The income statement shows repeated, modest-sized losses every year, which mainly reflect research, development, and basic operating costs. There is no evidence yet that the business model generates profit, because nothing has reached the commercial stage. The sharp swings in reported per‑share losses likely come from changes in the share count and reverse splits rather than big shifts in the underlying business. Overall, the company is burning cash to push its pipeline forward, which is typical for a small biotech, but success is still entirely future‑dependent.

Balance Sheet

Balance Sheet The balance sheet is very small and very simple: a thin layer of assets, essentially all in cash, funded by equity and with no debt. This means the company is not weighed down by loans or interest payments, but it also suggests a very limited financial cushion. Equity has been gradually eroded by ongoing losses, and the asset base is too small to support major setbacks or long delays without fresh funding. Financially, Dermata looks lean but fragile, and highly sensitive to its ability to raise new capital or secure partners.

Cash Flow

Cash Flow Cash flow figures confirm the picture of a cash‑burning, pre‑revenue biotech. Operating cash flow has been consistently negative as the company spends on R&D and overhead with no offsetting revenue. Free cash flow is similarly negative, but capital spending is minimal, so most of the outflow is tied directly to running trials and keeping the company going rather than building physical assets. This model can work only if the company continues to access outside funding or milestone payments until products begin to generate meaningful cash inflows.

Competitive Edge

Competitive Edge Dermata operates in dermatology, where both prescription and over‑the‑counter markets are crowded with strong incumbents. Its competitive angle is a specialized, patented Spongilla technology that combines a mechanical skin‑resurfacing effect with antimicrobial and anti‑inflammatory activity. Clinical results in acne and a collaboration for needle‑free botulinum toxin delivery suggest technical differentiation. However, the planned shift from prescription to over‑the‑counter acne products puts Dermata directly up against large consumer skincare brands with powerful marketing and distribution. The company’s small size and limited resources make execution, branding, and channel access critical challenges, even if the science is compelling.

Innovation and R&D

Innovation and R&D Innovation is Dermata’s core strength. The Spongilla platform is unusual in that it uses a natural freshwater sponge to both open microchannels in the skin and deliver active ingredients, aiming to improve penetration and treatment effects. The once‑weekly acne kit concept offers a clear convenience story versus daily treatments, supported by prior clinical data. Separately, the DMT410 program targets needle‑free delivery of botulinum toxin, which could be attractive in both cosmetic and medical settings if efficacy and safety hold up. The company has been building a patent portfolio and exploring multiple indications, from acne to hyperhidrosis and potentially other skin conditions. The flip side is that most of this value is still unproven commercially and depends on successful trials, regulatory paths, and consumer acceptance.

Summary

Dermata Therapeutics (and by extension its warrants, DRMAW) is a very early‑stage, high‑uncertainty biotech centered on a distinctive dermatology platform rather than on current revenues or profits. Financially, it is lean, pre‑revenue, and reliant on external capital, with no debt but only a modest cash cushion and ongoing cash burn. Strategically, the company is making a bold pivot from a traditional prescription approach to an over‑the‑counter acne offering while also pursuing a more advanced, needle‑free botulinum toxin delivery program with a partner. The story is now all about execution: turning promising science and patents into recognizable products and brands in a fiercely competitive skincare and aesthetics landscape. Outcomes could range widely, depending on trial results, regulatory progress, funding access, and the success of its planned consumer launch and partnerships.