$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

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1085049 usd
CY2022Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
0 usd
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
37540 usd
CY2023Q1 drma Net Loss Per Share Of Common Stock Basic And Diluted
NetLossPerShareOfCommonStockBasicAndDiluted
-2.27
CY2022Q1 drma Net Loss Per Share Of Common Stock Basic And Diluted
NetLossPerShareOfCommonStockBasicAndDiluted
-5.35
CY2023Q1 drma Weighted Average Basic And Diluted Common Units Shares
WeightedAverageBasicAndDilutedCommonUnitsShares
985848 shares
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
6021854 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
131260 usd
CY2023Q1 drma Issuance Of Common Stock And Warrants Net Of Issuance Costs Amount
IssuanceOfCommonStockAndWarrantsNetOfIssuanceCostsAmount
4174985 usd
CY2023Q1 drma Issuance Of Common Stock Upon Exercise Of Pre Funded Warrants Amount
IssuanceOfCommonStockUponExerciseOfPreFundedWarrantsAmount
153 usd
CY2023Q1 us-gaap Stock Issued1
StockIssued1
40 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-2240142 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
8088070 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
10107104 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
531566 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-2786152 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
7852518 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
2240142 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
2786152 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
131260 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
212880 usd
CY2023Q1 drma Increase Decrease In Prepaid Deferred Expense And Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndAssets
174848 usd
CY2022Q1 drma Increase Decrease In Prepaid Deferred Expense And Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndAssets
-27923 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3831 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
146985 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
288232 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-153638 usd
CY2023Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
590509 usd
CY2022Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
178304 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1649633 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2607848 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4174985 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
CY2023Q1 drma Proceeds From Pre Funded Warrants Exercises
ProceedsFromPreFundedWarrantsExercises
153 usd
CY2022Q1 drma Proceeds From Pre Funded Warrants Exercises
ProceedsFromPreFundedWarrantsExercises
0 usd
CY2023Q1 drma Payment For Fractional Shares In Reverse Stock
PaymentForFractionalSharesInReverseStock
-40 usd
CY2022Q1 drma Payment For Fractional Shares In Reverse Stock
PaymentForFractionalSharesInReverseStock
0 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4175098 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
0 usd
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001853816
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2388157 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
770115 shares
CY2023Q1 dei Document Type
DocumentType
10-Q
CY2023Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Transition Report
DocumentTransitionReport
false
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
Yes
CY2023Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2023Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
true
CY2023Q1 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
2338157 shares
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
2525465 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6241294 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10798806 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8766759 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8190958 usd
CY2021Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
160714 shares
CY2023Q1 drma Class Of Warrant Or Right Exercise Price Of Warrants Or Right
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRight
112.00
CY2022Q4 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
8800000 usd
CY2023Q1 drma Accumulated Deficit
AccumulatedDeficit
-47800000 usd
CY2021 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
1600000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
880000 usd
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
2277682 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-2277682 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<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>
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-2240142 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-2786152 usd
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.27
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.35
CY2023Q1 drma Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
985848 shares
CY2022 drma Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
520539 shares
CY2023Q1 drma Common Stock Options
CommonStockOptions
102074 shares
CY2022Q4 drma Common Stock Options
CommonStockOptions
62582 shares
CY2023Q1 drma Common Stock Warrants
CommonStockWarrants
3786617 shares
CY2022Q4 drma Common Stock Warrants
CommonStockWarrants
201253 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3888691 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
263835 shares
CY2023Q1 drma Common Stock Share Issued
CommonStockShareIssued
85000 shares
CY2023Q1 drma Increasing Shares Authorized For Issuance
IncreasingSharesAuthorizedForIssuance
1533123 shares
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.0001
CY2023Q1 drma Warrants Exercised During Period Share
WarrantsExercisedDuringPeriodShare
1533123 shares
CY2023Q1 drma Warrant Reduced Description
WarrantReducedDescription
from $21.20 to $2.82 per share upon closing of the 2023 Offering.
CY2023Q1 drma Reverse Stock Split
ReverseStockSplit
1-for-16
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0.0001
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
3786617 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
437102 shares

Files In Submission

Name View Source Status
0001654954-23-006208-index-headers.html Edgar Link pending
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
drma_10q.htm Edgar Link pending
drma_ex311.htm Edgar Link pending
drma_ex312.htm Edgar Link pending
drma_ex321.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
drma-20230331_cal.xml Edgar Link unprocessable
drma-20230331_lab.xml Edgar Link unprocessable
drma-20230331_pre.xml Edgar Link unprocessable
drma-20230331_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
drma_10q_htm.xml Edgar Link completed
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending