Dermata Therapeutics raises $3.4M in private placement

Dermata Therapeutics, Inc. (NASDAQ: DRMA) has entered into definitive agreements for a private placement priced at-the-market under Nasdaq rules, according to a company statement.

The offering includes 2,293,608 shares of common stock, or pre-funded warrants in lieu thereof, at a purchase price of $1.46 per share. The offering also includes series E warrants and series F warrants, each to purchase up to 2,293,608 shares of common stock, with an exercise price of $1.46 per share.

The series E warrants expire five years from the effective date of stockholder approval, while the series F warrants expire 24 months from that date. Both warrant series become exercisable upon stockholder approval of the underlying share issuances.

Company insiders, including the chief executive officer, chief financial officer, and a member of the management team, are participating in the offering at a price of $1.47 per share, with warrant exercise prices also set at $1.47, in accordance with Nasdaq rules.

The offering is expected to generate approximately $3.4 million in gross proceeds before expenses, with up to approximately $6.7 million in additional gross proceeds if the series E and series F warrants are exercised in full on a cash basis. The company noted that no assurance can be given that any warrants will be exercised.

The closing is expected to occur on or about August 18, 2026, subject to customary closing conditions.

Dermata said it intends to use net proceeds for general corporate purposes, including consumer research, pre-launch and launch activities for a direct-to-consumer product, licensing activities, and potential acquisitions.

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