Dermata jumps on smaller Q1 loss over last year

Dermata Therapeutics

12/05/2023 12:11

** Shares of drug developer Dermata Therapeutics Inc
 DRMA.o  jump about 60% to $3.1, premarket
    ** Co narrows Q1 net loss to $2.2 mln from $2.8 mln a year
earlier
    ** Extends cash runway to Q1 2024 from 3Q 2023, reported in
Q4 2022
    ** Believe have met all requirements to move forward with
late-stage acne program for DMT310 - co
    ** DMT310 is co's lead product candidate for treatment of
moderate-to-severe acne, derived from naturally sourced
freshwater sponge
    ** In April announced receipt of Type C meeting response
from FDA on DMT310 Chemistry, Manufacturing, and Controls (CMC)
questions
    ** DRMA down about 71% YTD

 (Reporting by Vaibhav  Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))