Dermata Therapeutics is advancing its lead asset, DMT310, a novel, once-weekly, topical product for the treatment of acne, through a Phase III clinical program. The company anticipates topline results from the first of two Phase III trials, STAR-1, in the first quarter of 2025.
DMT310: A Novel Approach to Acne Treatment
DMT310 is derived from Spongilla lacustris, a freshwater sponge. The company's Spongilla platform technology processes the sponge into a powder containing precise silica spicules. According to Dermata, when applied to the skin, these spicules may exfoliate, stimulate collagen production, open closed comedones, create an environment that inhibits acne-causing bacteria, and form microchannels that enhance the penetration of the sponge's natural compounds.
The Phase III clinical program for DMT310 consists of two trials in patients with moderate-to-severe facial acne. The STAR-1 study is nearing completion of enrollment, with results expected in early 2025.
DMT410: Expanding the Spongilla Platform
Beyond DMT310, Dermata is also developing DMT410, which leverages the Spongilla technology for topical intradermal delivery of botulinum toxin. This product is being investigated for the treatment of hyperhidrosis and various aesthetic skin conditions. Dermata has completed proof-of-concept Phase I clinical trials for DMT410 in combination with BOTOX for primary axillary hyperhidrosis and aesthetic applications. The company is currently in discussions with potential partners for the DMT410 program.
Financial Status
For the third quarter of 2024, Dermata Therapeutics reported a net loss of $3.2 million, or $2.04 per share, compared to a net loss of $1.7 million, or $8.09 per share, for the same period in 2023. Research and development expenses for the quarter were $2.4 million, reflecting increased clinical trial costs, particularly for the STAR-1 study. As of September 30, 2024, Dermata had $6.1 million in cash and cash equivalents, which is expected to support operations through the first quarter of 2025.
