Why Dermata Therapeutics Stock is Getting Obliterated

Dermata Therapeutics Inc DRMA shares are trading lower after the company announced topline results from its DMT310 Phase 2 trial, which did not meet primary endpoints.

What Else?

"While we are disappointed with the results in rosacea, we are still encouraged by DMT310's treatment potential for acne, as we have seen a highly statistically significant treatment effect in our DMT310 Phase 2b moderate-to-severe acne study on all three co-primary endpoints at Week 12," stated Gerry Proehl, Dermata's Chairman, President, and Chief Executive Officer.

"We will continue to evaluate the full data set to determine DMT310's potential as a treatment for moderate-to-severe rosacea. At this time, we will focus our efforts and resources on preparing for our End of Phase 2 meeting with the FDA for DMT310 in moderate-to-severe acne and initiation of the Phase 3 acne program in 2023," continued Mr. Proehl.

"With each clinical study, we learn more about this product candidate and still believe in DMT310's potential as a unique, once-weekly treatment option for acne and other inflammatory skin diseases," concluded Mr. Proehl.

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Dermata Therapeutics focuses on identifying, developing and commercializing pharmaceutical product candidates for the treatment of medical and aesthetic skin conditions.

According to data from Benzinga Pro, DRMA has a 52-week high of $2.73 and a 52-week low of $0.22.