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Dermata Therapeutics Provides Corporate Update and Reports Year End 2024 Financial Results

1. Dermata to announce XYNGARI™ trial results by March 2025, raising $2.55M recently. 2. Collaboration with Revance Therapeutics for DMT410 treatment may enhance market position.

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+2.56%Current Return
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-1.06%S&P 500
$1.1703/17 04:20 PM EDTEvent Start
$1.203/18 10:36 PM EDTLatest Updated
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FAQ

Why Bullish?

The upcoming trial results can significantly affect investor sentiment and stock value, similar to positive clinical trial outcomes in the past for biotech firms which led to strong price increases.

How important is it?

The announcement of trial results is a critical event, potentially leading to substantial stock price movements, impacting DRMA's position in the market significantly.

Why Short Term?

The March announcement is imminent, likely causing immediate market reactions based on trial outcomes, as historically seen with biotech stocks upon clinical news releases.

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RVNCCROWN
- Dermata expects to announce topline results from its XYNGARI™ Phase 3 Spongilla Treatment of Acne Research (STAR-1) clinical trial by end of March 2025 - - The Company recently entered into a Clinical Trial Collaboration Agreement with Revance Therapeutics (recently merged with Crown Laboratories) to study DMT410 for the treatment of axillary hyperhidrosis -  - Raised $2.55 million in gross proceeds from a private placement financing in January 2025, including participation from Dermata's Chief Executive Officer, Chief Financial Officer, and certain members of the Company's board of directors - SAN DIEGO, CA / ACCESS Newswire / March 17, 2025 / Dermata Therapeutics, Inc. (NASDAQ:DRMA)(NASDAQ:DRMAW) ("Dermata," or the "Company"), a late-stage biotechnology company focused on the treatment of medical skin diseases and aesthetic applications, today highlighted recent corporate progress and reported financial results for the year ended December 31, 2024. "I am very proud of what our team has accomplished this year, and we are excited to unblind the topline data from our XYNGARI™ Phase 3 STAR-1 trial in the coming weeks," commented Gerry Proehl, Dermata's Chairman, President, and Chief Executive Officer.

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