Business
Dermata Therapeutics Provides Corporate Update and Reports Second Quarter 2024 Financial Results
- DMT310 Phase 3 Spongilla Treatment of Acne Research (STAR-1) clinical trial has enrolled over 50% of patients- Dermata continues discussions with potential
About this update from Dermata Therapeutics, Inc.
[{"type":"text","content":"- DMT310 Phase 3 Spongilla Treatment of Acne Research (STAR-1) clinical trial has enrolled over 50% of patients- Dermata continues discussions with potential botulinum toxin partners for DMT410- Raised $2.3 million in net proceeds from financing completed in 2Q 2024 SAN DIEGO, CA / ACCESSWIRE / August 7, 2024 / Dermata Therapeutics, Inc. (Nasdaq:DRMA, DRMAW)(\"Dermata,\" or the \"Company\"), a late-stage biotechnology company focused on the treatment of medical and aesthetic skin diseases and conditions, today highlighted recent corporate progress and reported financial results for the second quarter ended June 30, 2024.\"We are excited to have enrolled over 50% of patients in our DMT310 Phase 3 STAR-1 trial, and we look forward to the second half of 2024 as our team continues to work diligently to complete enrollment of the DMT310 STAR-1 trial,\" commented Gerry Proehl, Dermata's Chairman, President, and Chief Executive Officer. \"We still believe that patient compliance is a considerable issue with current acne treatments and, if approved, DMT310 as a once-weekly, natural, topical product candidate with an acceptable tolerability profile could provide these patients with a unique product to potentially meet their treatment needs,\" concluded Mr. Proehl.Anticipated Upcoming MilestonesComplete DMT310 Phase 3 STAR-1 clinical trial in moderate-to-severe acne. After achieving the 50% enrollment milestone in July 2024, Dermata still expects to receive topline results from STAR-1 in the first quarter of 2025. STAR-1 is the first of two Phase 3 clinical trials, including a long-term extension study, which the Company will need to complete prior to filing a new drug application.DMT410 Partnership Discussions. The Company continues to make progress on partnership discussions for its DMT410 program for the topical delivery of botulinum toxin. DMT410 is the Company's combination treatment regimen that uses the unique mechanical features of the Company's Spongilla technology to facilitate the intradermal delivery of botulinum toxin by topical application rather than through multiple injections with a needle. The Company believes DMT410 has the potential be to a first-in-class treatment for acne, hyperhidrosis, and facial aesthetics.Upcoming Conference ParticipationH.C. Wainwright 26th Annual Global Investment Conference September 9-11, 202...