Dermata Therapeutics, Inc.

Dermata Therapeutics, Inc. reported a net loss of $7.6 million for the fiscal year ended December 31, 2025, an improvement from a net loss of $12.3 million in the prior year. The company's strategic shift from prescription drug development to direct-to-consumer (DTC) and business-to-business (B2B) skincare products, announced in September 2025, is central to its forward-looking strategy. Total operating expenses were $7.8 million, down from $12.5 million in 2024, primarily due to decreased clinical trial costs following the completion of the Phase 3 STAR-1 trial for XYNGARI. Research and development expenses decreased to $2.9 million from $8.2 million, while selling, general and administrative expenses increased to $4.8 million from $4.3 million, reflecting initial marketing investments for the upcoming Tome skincare brand launch. The company ended the period with $7.5 million in cash and cash equivalents, having raised $12.1 million in net financing proceeds during the year. Management believes existing cash will fund operations into the first quarter of 2027, with the first commercial product, the Tome Foundational Treatment, planned for launch in mid-2026.

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