Wed, May 14, 1:02 PM (61 days ago)
**Dermata Therapeutics, Inc. (DRMA) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** No revenue generated; Dermata is a clinical-stage biotech company. - **Net Loss:** $2.3 million for Q1 2025, down from $3.1 million in Q1 2024. - **Operating Expenses:** $2.3 million for Q1 2025, down from $3.2 million in Q1 2024. - **Research & Development:** $1.3 million (Q1 2025) vs. $1.6 million (Q1 2024). - **General & Administrative:** $1.1 million (Q1 2025) vs. $1.6 million (Q1 2024). - **Cash Flow:** Net cash used in operations was $1.9 million (Q1 2025) vs. $2.7 million (Q1 2024). - **Cash Position:** $9.7 million in cash and cash equivalents as of March 31, 2025. - **Stockholders' Equity:** $7.3 million (Q1 2025) vs. $1.6 million (Q1 2024). - **Accumulated Deficit:** $68.0 million as of March 31, 2025. **Key Metrics and Trends:** - **Profit Margins:** Not applicable due to ongoing losses. - **Earnings Changes:** Net loss decreased by $830,675 from Q1 2024 to Q1 2025. - **Future Operations Impact:** Dermata expects to continue incurring net losses and will need additional financing to sustain operations and research. **Uncertainties and Future Outlook:** - **Funding Requirements:** Dermata will need to raise additional capital to complete Phase 3 studies for XYNGARI™ and continue development of DMT410. - **Going Concern:** There is substantial doubt about Dermata's ability to continue as a going concern for the one-year period following the date of the financial statements. - **Clinical Trials:** Positive topline results for XYNGARI™ Phase 3 STAR-1 clinical trial; planning for STAR-2 trial by the end of 2025. - **Collaborations:** Entered into a Clinical Trial Collaboration Agreement with Revance Therapeutics for a Phase 2a clinical trial. **Quarterly Performance Discussion:** - **Operational Highlights:** Successful completion of the XYNGARI™ Phase 3 STAR-1 trial with positive results. - **Financial Highlights:** Decrease in operating expenses and net loss compared to Q1 2024. - **Strategic Highlights:** Raised $8.5 million in financing during Q1 2025 through private placements and warrant inducements. **Conclusion:** Dermata Therapeutics continues to focus on the development and commercialization of its product candidates, XYNGARI™ and DMT410. The company faces significant financial challenges and will need to secure additional funding to support its operations and clinical trials. The positive results from the XYNGARI™ Phase 3 STAR-1 trial are a key milestone, but the company's ability to continue as a going concern remains uncertain.