Dermata Therapeutics Inc.
DRMA evidence brief
What we can confirm
What it means
What to watch
Prepared research question
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Traceable citations · Unknowns marked
BioSniper AI · DRMA
Dermata Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on developing XYNGARI™ for acne and psoriasis and DMT410 for aesthetic and medical skin conditions, with a cash runway into Q2 2026 and a history of net losses.
Key risk: Limited cash runway
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Jun 30, 2026.
Tracking 1 clinical trial for Dermata Therapeutics Inc..
Dermata Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on developing XYNGARI™ for acne and psoriasis and DMT410 for aesthetic and medical skin conditions, with a cash runway into Q2 2026 and a history of net losses.
- Dermata is developing XYNGARI™ for the treatment of acne and psoriasis and DMT410 for aesthetic and medical skin conditions [sec_mda · as of 2025-05-14].
- As of June 30, 2026, the company reported cash and equivalents of $4.4M, net income of -$3.0M, and shareholders' equity of $6.2M [sec].
- The company had an accumulated deficit of $69.7 million as of June 30, 2025 [sec_mda · as of 2025-08-13].
- Management expects existing cash to fund operations into the second quarter of 2026 [sec_mda · as of 2025-08-13].
- The company anticipates incurring net losses for the next several years as it completes clinical development of XYNGARI™ and continues research on DMT410 [sec_mda · as of 2025-05-14].
What works
- Dermata has a defined pipeline with XYNGARI™ targeting moderate-to-severe acne and psoriasis, and DMT410 for aesthetic/medical skin conditions, providing multiple shots on goal [sec_mda · as of 2025-05-14].
- The company is actively planning for regulatory submission of XYNGARI™, including preparing an NDA and conducting non-clinical studies [sec_mda · as of 2025-08-13].
What to weigh
- Dermata has a history of net losses and an accumulated deficit of $69.7 million as of June 30, 2025, with expectations of continued losses [sec_mda · as of 2025-08-13].
- The company's cash runway is limited to the second quarter of 2026, and it will require additional capital to complete Phase 3 studies and other development activities [sec_mda · as of 2025-08-13].
- There is substantial doubt about the company's ability to continue as a going concern for the one-year period following the issuance of its financial statements [sec_mda · as of 2025-08-13].
From the filings
Quoted directly from source documents.
Cash runway into Q2 2026
“We believe that our existing cash and cash equivalents will be sufficient to fund our operating expenses and capital expenditure requirements into the second quarter of 2026.”
SEC MD&A · August 13, 2025
Accumulated deficit as of June 30, 2025
“As of June 30, 2025, we had an accumulated deficit of $69.7 million.”
SEC MD&A · August 13, 2025
Plans for XYNGARI™ regulatory submission
“prepare for regulatory approval of XYNGARI™ for the treatment of moderate-to-severe acne”
SEC MD&A · August 13, 2025
Going concern uncertainty
“These factors raise substantial doubt about our ability to continue as a going concern for the one-year period following the date that these financial statements were issued.”
SEC MD&A · August 13, 2025
Risks & what to watch (3)›
Key risks
- Limited cash runway — Cash expected to fund operations only into Q2 2026; additional capital needed for Phase 3 studies [sec_mda · as of 2025-08-13].
- Going concern uncertainty — Substantial doubt about ability to continue as a going concern for the next year [sec_mda · as of 2025-08-13].
- Clinical and regulatory risk — XYNGARI™ may not succeed in trials or gain FDA approval, jeopardizing the entire pipeline [sec_mda · as of 2025-05-14].
What to watch
- Completion of the second Phase 3 clinical trial for XYNGARI™ in acne [sec_mda · as of 2025-08-13].
- Regulatory submission and FDA response for XYNGARI™ NDA [sec_mda · as of 2025-08-13].
- Identification of a botulinum toxin partner for DMT410 [sec_mda · as of 2025-08-13].
- Ability to raise additional capital to extend runway beyond Q2 2026 [sec_mda · as of 2025-08-13].
Sources: SEC filings · SEC MD&A · Generated August 25, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
5.7 months
D/E 0.53 · 0% dilution
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
0 buys · 1 sell (180d)
Runway
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
3
Total value held
$83K
| Holder | Shares | Value |
|---|---|---|
| geode capital management, llc | 48,334 | $58K |
| welch & forbes llc | 20,000 | $24K |
| citigroup inc | 1 | $1 |
Short Interest
as of Apr 30, 2026- % of float
- 6.4%
- Days to cover
- 0.1
- Shares short
- 200,344
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
DRMA short interestGovernance
Frequently asked questions
What is the AI investment thesis for Dermata Therapeutics Inc.?
Dermata Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on developing XYNGARI™ for acne and psoriasis and DMT410 for aesthetic and medical skin conditions, with a cash runway into Q2 2026 and a history of net losses.
Who is the CEO of Dermata Therapeutics Inc.?
Mr. Gerald T. Proehl is the chief executive officer of Dermata Therapeutics Inc. (DRMA).
Where is Dermata Therapeutics Inc. headquartered?
Dermata Therapeutics Inc. (DRMA) is headquartered in San Diego, CA, United States.
What therapeutic areas does Dermata Therapeutics Inc. focus on?
Dermata Therapeutics Inc. develops therapies across Dermatology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.