Dermata Therapeutics, Inc. (DRMA) Stock

Dermata Therapeutics, Inc. (DRMA) is a Healthcare stock trading at $1.41 (as of 2026-08-21), with a market capitalization of $5.67M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Dermata Therapeutics, Inc., a clinical-stage biotechnology company, focuses on identifying, developing, and commercializing pharmaceutical product candidates for the treatment of medical and aesthetic skin conditions. The company's lead product candidate is DMT310, which has completed Phase IIb clinical trial for treatment of moderate-to-severe acne; and Phase Ib proof of concept (POC) trial for Mild-to-Moderate Psoriasis, as well as is in a Phase 2 clinical trial for treatment of moderate-to-severe rosacea. It is also developing DMT410 that has completed Phase Ib POC trials for the treatment of hyperhidrosis and aesthetic conditions. The company was incorporated in 2014 and is headquartered in San Diego, California.

Understand Dermata Therapeutics, Inc.: how it makes money

Dermata Therapeutics is a clinical-stage biotech developing pharmaceutical candidates for medical and aesthetic skin conditions, including DMT310 for acne, psoriasis, and rosacea, and DMT410 for additional skin indications, with value intended to come from commercializing successful therapies.

Because the company is still clinical-stage, its profit model is structurally dependent on whether its product candidates, especially DMT310 and DMT410, generate successful clinical outcomes that can be commercialized (or attract partnering) later.

Business quality (Weak): Strong clarity on product-candidate pipeline and specific trial stages for DMT310, but there are no provided reportable segments or operating KPIs, so investors must primarily track clinical progress rather than execution metrics tied to existing commercial revenue.

Bull case

Clinical progress for DMT310 across multiple skin conditions: DMT310 has completed Phase IIb for moderate-to-severe acne, completed Phase Ib proof of concept for Mild-to-Moderate Psoriasis, and is in a Phase 2 trial for treatment of moderate-to-severe rosacea.

Bear case

No commercial revenue shown in the latest reported period: In the 2026-03-31 period, revenue is shown as 0.0B, which is consistent with a clinical-stage model and increases reliance on future success.
Operating losses remain large: The 2026-03-31 financials show an operating margin of -2448.5, indicating ongoing expenses relative to revenue.
Clinical outcomes and timelines are decisive risks: Since the company’s main assets are product candidates in clinical development, setbacks in trial results or progression can directly impair the path to commercialization for DMT310 and DMT410.

Valuation — source: SEC EDGAR (first-party)
Price	$1.41
Market Cap	$5.67M
Price / Book	1.63
Price / Sales	20.81
FCF Yield	-88.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$215041.00
Net Margin	-3514.9%
Revenue Growth (YoY)	-4.8%
EPS Growth (YoY)	1.6%

Valuation vs Sector & Industry
Sector P/E (Healthcare)	21.7
Industry P/E (Pharmaceutical Products)	17.2

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	GEODE CAPITAL MANAGEMENT, LLC ($58483.00)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Gerald T. Proehl
Employees	8
Country	US
IPO Date	2021-08-13

Related Companies (Business model: Biotech (Clinical / Commercial-Stage); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.