Dermata Therapeutics raises $4.1 million in private placement

Dermata Therapeutics Inc. (NASDAQ: DRMA) announced it entered into definitive agreements for a private placement offering expected to raise approximately $4.1 million in gross proceeds, with potential additional proceeds of up to $8.3 million if warrants are exercised.

The San Diego-based dermatologic solutions company will issue 2,022,062 shares of common stock and accompanying warrants at $2.04 per share. The offering includes series C warrants and series D warrants, both with exercise prices of $2.04 per share. Series C warrants will expire five years from stockholder approval, while series D warrants will expire in 24 months.

Company insiders, including the chief executive officer and chief financial officer, are participating in the offering at the same purchase price as other investors. H.C. Wainwright & Co. is serving as the exclusive placement agent.

The closing is expected to occur on or about December 29, 2025, subject to customary closing conditions and stockholder approval for warrant exercises.

Dermata plans to use proceeds for general corporate purposes, including consumer research studies, pre-launch activities for its over-the-counter acne kit, potential acquisitions, licensing activities, and working capital.

The company also agreed to amend existing warrants for 120,734 shares, reducing their exercise price from $12.70 to $2.04 per share upon closing of the offering.

As of the announcement date, Dermata has 1,175,798 shares of common stock outstanding. The company recently announced a strategic pivot to focus on developing and distributing over-the-counter pharmaceutical skin treatments, with plans to launch an acne kit in mid-2026.

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