Dermata Therapeutics(US:DRMA)2024-11-13 23:03Clinical Trials - Dermata achieved 50% enrollment in its DMT310 Phase 3 STAR-1 clinical trial for moderate-to-severe acne, expecting topline results in Q1 2025[3] - DMT310 demonstrated a significant 45% reduction in inflammatory lesions after four applications in the Phase 2b acne study[2] - Dermata plans to complete enrollment in the STAR-1 study by the end of 2024[4] Financial Performance - The company raised $7.8 million in gross proceeds during 2024, with current cash resources expected to fund operations into Q2 2025[4][6] - The net loss for Q3 2024 was $3.2 million, compared to a net loss of $1.7 million in Q3 2023[13] - Total operating expenses for Q3 2024 were $3.2 million, compared to $1.8 million in Q3 2023[13] Research and Development - Research and development expenses increased to $2.4 million in Q3 2024, up from $0.9 million in Q3 2023, primarily due to higher clinical trial costs[7] - Dermata continues discussions for potential partnerships regarding its DMT410 program, which aims to deliver botulinum toxin topically[5] Cash Position - As of September 30, 2024, Dermata had $6.1 million in cash and cash equivalents, down from $7.4 million at the end of 2023[6][11] - General and administrative expenses decreased to $0.8 million in Q3 2024 from $0.9 million in Q3 2023, attributed to lower insurance costs[8]