Dermata Therapeutics Inc. reported positive topline results from its Phase 3 Spongilla Treatment of Acne Research (STAR-1) clinical trial, achieving all co-primary endpoints. The company also entered into a Clinical Trial Collaboration Agreement with Revance Therapeutics to study DMT410 with DAXXIFY® for the treatment of axillary hyperhidrosis. Financial results for the first quarter of 2025 show that as of March 31, the company had $9.7 million in cash and cash equivalents, an increase from $3.2 million as of December 31, 2024. This increase was due to approximately $8.5 million of financing proceeds, offset by $1.9 million of cash used in operations. Research and development expenses were $1.3 million for the quarter ended March 31, 2025, a decrease from $1.6 million for the same period in 2024, primarily due to decreased clinical trial expenses and stock-based compensation reductions. Dermata expects its current cash resources to fund operations into the first quarter of 2026.
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