Dermata Therapeutics (DRMA) IPO Open 17% Lower

Today's IPO for Dermata Therapeutics (NASDAQ: DRMA) opened for trading at $5.80 after pricing 2,571,428 shares of its common stock and accompanying warrants to purchase up to 2,571,428 shares of common stock at $7.

Maxim Group LLC is acting as the sole book-running manager and Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as a co-manager in connection with the offering.

Dermata is a clinical-stage dermatology company focused on identifying, developing and commercializing innovative pharmaceutical product candidates for the treatment of medical and aesthetic skin diseases and conditions the Company believe represent significant market opportunities because current therapies are inadequate or non-existent.

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