$DRMA
Dermata Therapeutics, Inc.

2023 Q2 Form 10-Q Financial Statement

#000165495423006208 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $893.5K $1.085M $1.190M
YoY Change -20.08% -8.84% -24.72%
% of Gross Profit
Research & Development $838.9K $1.193M $1.596M
YoY Change -47.97% -25.27% 134.48%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.732M $2.278M $1.596M
YoY Change 7.43% 42.73% 134.48%
Operating Profit -$1.732M -$2.278M -$2.786M
YoY Change -36.55% -18.25% 23.18%
Interest Expense $31.05K $37.54K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.701M -$2.240M -$2.786M
YoY Change -37.69% -19.6% 20.88%
Income Tax
% Of Pretax Income
Net Earnings -$1.701M -$2.240M -$2.786M
YoY Change -37.69% -19.6% 20.88%
Net Earnings / Revenue
Basic Earnings Per Share -$0.63 -$2.27 -$0.33
Diluted Earnings Per Share -$0.63 -$2.27 -$333.6K
COMMON SHARES
Basic Shares Outstanding 2.338M shares 12.32M shares 8.352M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.439M $8.767M $8.191M
YoY Change -20.6% 7.03% 515.67%
Cash & Equivalents $8.439M $8.767M $8.191M
Short-Term Investments
Other Short-Term Assets $273.6K $522.0K $853.1K
YoY Change -31.36% -38.81% 165.93%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.713M $9.295M $9.044M
YoY Change -20.98% 2.78% 447.73%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.00 -$5.00 $0.00
YoY Change -150.0%
TOTAL ASSETS
Total Short-Term Assets $8.713M $9.295M $9.044M
Total Long-Term Assets $1.00 -$5.00 $0.00
Total Assets $8.713M $9.295M $9.044M
YoY Change -20.98% 2.78% 447.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $437.8K $492.9K $662.2K
YoY Change -28.09% -25.57% 35.68%
Accrued Expenses $245.1K $714.2K $529.3K
YoY Change -67.65% 34.93% 91.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $682.9K $1.207M $1.192M
YoY Change -50.03% 1.3% 26.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $682.9K $1.207M $1.192M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $682.9K $1.207M $1.192M
YoY Change -50.03% 1.3% 26.87%
SHAREHOLDERS EQUITY
Retained Earnings -$49.53M -$47.83M
YoY Change 19.36%
Common Stock $319.00 $239.00
YoY Change -68.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.030M $8.088M $7.853M
YoY Change
Total Liabilities & Shareholders Equity $8.713M $9.295M $9.044M
YoY Change -20.98% 2.78% 447.73%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.701M -$2.240M -$2.786M
YoY Change -37.69% -19.6% 20.88%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.840M -$1.650M -$2.608M
YoY Change 0.05% -36.74% 235.97%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.512M $4.175M $0.00
YoY Change -64.64% -100.0%
NET CHANGE
Cash From Operating Activities -1.840M -$1.650M -2.608M
Cash From Investing Activities
Cash From Financing Activities 1.512M $4.175M $0.00
Net Change In Cash -328.2K $2.525M $0.00
YoY Change -113.47% -100.0%
FREE CASH FLOW
Cash From Operating Activities -$1.840M -$1.650M -$2.608M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023Q1 drma Net Loss Per Share Of Common Stock Basic And Diluted
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CY2022Q1 drma Net Loss Per Share Of Common Stock Basic And Diluted
NetLossPerShareOfCommonStockBasicAndDiluted
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CY2023Q1 drma Weighted Average Basic And Diluted Common Units Shares
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CY2022Q4 us-gaap Stockholders Equity
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CY2023Q1 drma Issuance Of Common Stock And Warrants Net Of Issuance Costs Amount
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CY2023Q1 drma Issuance Of Common Stock Upon Exercise Of Pre Funded Warrants Amount
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CY2023Q1 us-gaap Stock Issued1
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CY2022Q1 us-gaap Net Income Loss
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CY2022Q1 us-gaap Stockholders Equity
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CY2023Q1 us-gaap Profit Loss
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CY2022Q1 us-gaap Profit Loss
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CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2023Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2023Q1 drma Proceeds From Pre Funded Warrants Exercises
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CY2022Q1 drma Proceeds From Pre Funded Warrants Exercises
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CY2023Q1 drma Payment For Fractional Shares In Reverse Stock
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CY2022Q1 drma Payment For Fractional Shares In Reverse Stock
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
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CY2023Q1 dei Amendment Flag
AmendmentFlag
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CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
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CY2023Q1 dei Document Fiscal Year Focus
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CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2023Q1 us-gaap Common Stock Shares Outstanding
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CY2022Q4 us-gaap Common Stock Shares Outstanding
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CY2023Q1 dei Document Type
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10-Q
CY2023Q1 dei Document Quarterly Report
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CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
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CY2023Q1 dei Document Transition Report
DocumentTransitionReport
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CY2023Q1 dei Entity File Number
EntityFileNumber
001-40739
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
DERMATA THERAPEUTICS, INC.
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
86-3218736
CY2023Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
3525 Del Mar Heights Rd.
CY2023Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
322
CY2023Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
San Diego
CY2023Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
92130
CY2023Q1 dei City Area Code
CityAreaCode
858
CY2023Q1 dei Local Phone Number
LocalPhoneNumber
800-2543
CY2023Q1 dei Security12b Title
Security12bTitle
Common Stock, $0.0001 Par Value
CY2023Q1 dei Trading Symbol
TradingSymbol
DRMA
CY2023Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2023Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
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CY2023Q1 dei Entity Filer Category
EntityFilerCategory
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CY2023Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
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CY2023Q1 dei Entity Ex Transition Period
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CY2023Q1 dei Entity Shell Company
EntityShellCompany
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CY2023Q2 dei Entity Common Stock Shares Outstanding
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CY2022Q4 us-gaap Restricted Cash Equivalents
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CY2023Q1 us-gaap Net Cash Provided By Used In Continuing Operations
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CY2023Q1 us-gaap Use Of Estimates
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 33.75pt; text-align:justify;">The Company’s financial statements are prepared in accordance with GAAP. The preparation of the Company’s financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities, and expenses and disclosure of contingent assets and liabilities in the financial statements and accompanying notes. On an ongoing basis, management evaluates these estimates and judgments, including those related to accrued research and development expenses, stock-based compensation, and the estimated fair values of equity instruments. Management evaluates its estimates on an ongoing basis. The Company bases its estimates on various assumptions that it believes are reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions.</p>
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CY2022Q4 drma Common Stock Warrants
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CY2023Q1 drma Warrant Reduced Description
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CY2023Q1 drma Reverse Stock Split
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CY2023Q1 us-gaap Preferred Stock Shares Authorized
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0001654954-23-006208-index.html Edgar Link pending
0001654954-23-006208.txt Edgar Link pending
0001654954-23-006208-xbrl.zip Edgar Link pending
drma-20230331.xsd Edgar Link pending
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drma_ex311.htm Edgar Link pending
drma_ex312.htm Edgar Link pending
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