Dermata Therapeutics jumps as Q1 loss narrows

Dermata Therapeutics

12/05/2023 15:58

(Updates)
    ** Shares of drug developer Dermata Therapeutics Inc
 DRMA.O  jump about 45% to $2.8
    ** Stock among top pct. gainer on Nasdaq Composite index
 .IXIC 
    ** Company's Q1 net loss narrows to $2.2 mln from $2.8 mln a
year earlier
    ** Dermata expects its current cash resources are sufficient
to fund operations into Q1 of 2024
    ** Company says it has met all requirements to move forward
with late-stage acne program for DMT310
    ** DMT310, derived from naturally sourced freshwater sponge,
is company's lead candidate for treatment of moderate-to-severe
acne
    ** In April, company announced receipt of Type C meeting
response from FDA on DMT310 chemistry, manufacturing, and
controls questions
    ** DRMA down about 56% YTD

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