Why Dermata Therapeutics Stock Is Trading 100% Higher Today

Dermata Therapeutics Inc DRMA shares are trading higher by 101.10% to $0.40 Friday morning after the company requested to withdraw its registration on Form S-1 and said it does not intend to pursue the contemplated public offering.

What Else?

Dermata Therapeutics says the company is seeking withdrawal of the offering Registration Statement as it does not intend to pursue the contemplated public offering of the securities covered by the Registration Statement at this time.

Dermata Therapeutics says it is the company’s understanding that this request will be deemed granted as of the date that it is filed with the SEC unless, within fifteen days after such date, the company receives notice from the SEC that this request will not be granted.

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According to data from Benzinga Pro, DRMA has a 52-week high of $2.45 and a 52-week low of $0.16.