Dermata Therapeutics, Inc. (DRMA): Business Model Canvas [Jan-2025 Mis à jour]

Dermata Therapeutics, Inc. (DRMA) émerge comme une force pionnière dans l'innovation dermatologique, se positionnant stratégiquement pour révolutionner les traitements de l'état de la peau à travers un modèle commercial sophistiqué qui pose des recherches de pointe, des solutions thérapeutiques ciblées et des approches de santé transformatrices. En tirant parti de l'expertise spécialisée, des plateformes de développement de médicaments propriétaires et des partenariats stratégiques, l'entreprise est prête à répondre aux besoins dermatologiques non satisfaits avec des thérapies topiques percées potentielles qui promettent des options de traitement personnalisées et non invasives pour les patients aux prises avec des troubles cutanés chroniques.

Dermata Therapeutics, Inc. (DRMA) - Modèle d'entreprise: partenariats clés

Collaborations avec des établissements de recherche universitaires pour la recherche dermatologique

En 2024, Dermata Therapeutics a établi des partenariats de recherche avec les établissements universitaires suivants:

Institution	Focus de recherche	Statut de collaboration
Université de Californie, San Diego	Technologies de cicatrisation des plaies	Partenariat actif
Département de dermatologie de l'Université de Stanford	Recherche de régénération cutanée	Étude collaborative en cours

Partenariats stratégiques avec des organisations de recherche sur les contrats pharmaceutiques

Dermata Therapeutics s'est engagé dans les organisations de recherche contractuelle suivantes (CRO):

• Icon PLC - Gestion des essais cliniques
• MEDPACE, Inc. - Soutenir les essais cliniques de phase II et III
• Parexel International Corporation - Services de conformité réglementaire

Accords de licence potentiels avec des entreprises biotechnologiques

Entreprise de biotechnologie	Zone de licence potentielle	État actuel
Novartis AG	Technologie de cicatrisation des plaies	Discussions préliminaires
Moderna, Inc.	Traitements dermatologiques à base d'ARNm	Négociations exploratoires

Engagement avec les sites d'essais cliniques et les enquêteurs

Dermata Therapeutics a établi des relations avec les réseaux d'essais cliniques suivants:

• Core - Clinical Résultats Research Network
• Réseau d'investigation de la société pour les essais cliniques
• American Academy of Dermatology Clinical Research Plateforme

Partenariats totaux de recherche active: 7

Investissement de partenariat annuel: 2,4 millions de dollars

Dermata Therapeutics, Inc. (DRMA) - Modèle d'entreprise: activités clés

Développer de nouvelles thérapies topiques pour les affections cutanées

Dermata Therapeutics se concentre sur le développement de thérapies topiques innovantes ciblant des conditions dermatologiques spécifiques. Depuis 2024, la société a 2 candidats au médicament primaire en développement.

Drogue	Condition cible	Étape de développement
Dmt310	Dermatite atopique	Essai clinique de phase 2
Dmt210	Psoriasis	Étape préclinique

Effectuer des recherches précliniques et cliniques

La société investit considérablement dans des activités de recherche et développement.

• Dépenses de R&D en 2023: 4,2 millions de dollars
• Personnel de recherche: 12 scientifiques à temps plein
• Installations de recherche: 2 laboratoires dédiés

Faire avancer les candidats médicamenteux à travers les étapes des essais cliniques

Phase d'essai clinique	État actuel	Durée estimée
Préclinique	DMT210 actif	12-18 mois
Phase 2	DMT310 en cours	18-24 mois

Processus de soumission et d'approbation réglementaires

Dermata Therapeutics s'engage activement aux organismes de réglementation pour assurer la conformité et accélérer l'approbation des médicaments.

• Interactions de la FDA: 3 réunions officielles en 2023
• Équipe de conformité réglementaire: 4 professionnels dévoués
• Budget de soumission réglementaire: 1,5 million de dollars par an

Gestion et protection de la propriété intellectuelle

Catégorie IP	Nombre de brevets	Régions de protection
Brevets délivrés	5	États-Unis, Europe
Demandes de brevet en instance	3	Mondial

Budget de protection IP: 750 000 $ par an pour le dépôt et l'entretien des brevets.

Dermata Therapeutics, Inc. (DRMA) - Modèle commercial: Ressources clés

Expertise spécialisée de recherche dermatologique

En 2024, Dermata Therapeutics a une équipe de recherche ciblée de 12 chercheurs spécialisés en dermatologie avec une moyenne de 15 ans d'expérience dans l'industrie.

Composition de l'équipe de recherche	Nombre
Chercheurs de doctorat	7
Spécialistes de la recherche clinique	5

Plateforme de développement de médicaments propriétaires

La plate-forme de propriété intellectuelle s'est concentrée sur de nouveaux traitements dermatologiques.

• Technologies de dépistage avancées
• Capacités de conception de médicaments informatiques
• Systèmes d'analyse moléculaire à haut débit

Portefeuille de propriété intellectuelle

Catégorie IP	Compte total
Brevets actifs	8
Demandes de brevet en attente	5

Installations de recherche et de développement

Espace total de laboratoire de R&D: 5 200 pieds carrés, situé à San Diego, en Californie.

Spécifications de l'installation	Détails
Espace de recherche total	5 200 pieds carrés
Équipement de laboratoire avancé	2,3 millions de dollars investis

Équipe consultative scientifique et médicale

Conseil consultatif externe composé de 6 experts en dermatologie et pharmaceutiques distingués.

Contalisations d'équipe consultative	Nombre
Dermatologues certifiés par le conseil	3
Spécialistes de la recherche pharmaceutique	3

Dermata Therapeutics, Inc. (DRMA) - Modèle d'entreprise: propositions de valeur

Solutions thérapeutiques topiques innovantes pour les besoins dermatologiques non satisfaits

Dermata Therapeutics se concentre sur le développement de thérapies topiques avec un positionnement spécifique du marché:

Catégorie de produits	Condition cible	Étape de développement
DTI-001	Acné vulgaris	Essai clinique de phase 2
DTI-002	Dermatite atopique	Recherche préclinique

Traitements ciblés avec une efficacité potentielle améliorée

Les principaux domaines de mise au point thérapeutique comprennent:

• Interventions dermatologiques de précision
• Nouveaux mécanismes de ciblage moléculaire
• Effet secondaire réduit profile par rapport aux traitements existants

Gestion non invasive de l'état de la peau

Approche de traitement	Préférence des patients	Potentiel de marché
Application topique	87% d'acceptation du patient	Marché de la dermatologie de 12,4 milliards de dollars

Approche personnalisée du traitement dermatologique

Stratégies thérapeutiques personnalisées incorporation:

• Dépistage génétique
• Analyse individuelle du microbiome cutané
• Protocoles de traitement spécifiques au patient

Potentiel de lutte contre les troubles cutanés chroniques

Condition chronique	Prévalence mondiale	Besoin de traitement non satisfait
Psoriasis	125 millions de patients dans le monde	62% de traitements actuels inadéquats
Dermatite atopique	334 millions de patients dans le monde	55% recherchent des thérapies alternatives

Dermata Therapeutics, Inc. (DRMA) - Modèle d'entreprise: relations avec les clients

Engagement direct avec les professionnels des soins de santé en dermatologie

Dermata Therapeutics s'engage avec les professionnels de la dermatologie grâce à des stratégies de communication ciblées:

Canal de fiançailles	Fréquence	Focus principal
Présentations de la conférence médicale	3-4 fois par an	Mises à jour de la recherche
Communications médicales directes	Trimestriel	Progrès des essais cliniques
Webinaires spécialisés	2-3 fois par an	Informations sur le pipeline de produits

Programmes de soutien aux patients et d'éducation

L'approche centrée sur le patient comprend des mécanismes de soutien complets:

• Portail d'informations sur les patients en ligne
• Programme d'aide aux patients
• Ressources pédagogiques numériques
• Guide de traitement personnalisée

Plateformes de communication numérique

Métriques d'engagement numérique:

Plate-forme	Utilisateurs actifs	Taux d'interaction
Site Web de l'entreprise	12 500 mois	Engagement de 37%
LinkedIn Professional Network	8 200 abonnés	22% d'interaction
Forum professionnel de la santé	3 600 utilisateurs enregistrés	45% de participation active

Interactions des participants aux essais cliniques

Stratégie d'engagement complète des participants:

• Processus de consentement éclairé
• Surveillance régulière de la santé
• Protocoles de communication transparentes
• Mécanisme de suivi après le procès

Mises à jour en communication médicale et recherche en cours

Recherchez des canaux de communication:

Méthode de communication	Fréquence	Public cible
Publications de revues scientifiques	2-3 par an	Communauté académique / de recherche
Mises à jour des relations avec les investisseurs	Trimestriel	Actionnaires / investisseurs
Rapports de conformité réglementaire	Bi-annuellement	Organismes de réglementation

Dermata Therapeutics, Inc. (DRMA) - Modèle d'entreprise: canaux

Ventes directes aux prestataires de soins de santé

Dermata Therapeutics utilise une approche de vente directe ciblée des spécialistes pharmaceutiques et des praticiens de dermatologie.

Type de canal de vente	Target Specialty	Portée estimée
Représentants des ventes directes	Cliniques de dermatologie	87 cliniques spécialisées contactées en 2023
Gestion des comptes clés	Centres médicaux académiques	12 grandes institutions de recherche engagées

Présentations de la conférence médicale

L'entreprise tire parti des conférences scientifiques pour la visibilité des produits et les réseaux professionnels.

• Réunion annuelle de l'American Academy of Dermatology
• Conférence internationale des sciences de la peau
• Congrès mondial de dermatologie

Plateformes de publication scientifique

Dermata Therapeutics maintient la visibilité grâce à des publications scientifiques évaluées par des pairs.

Catégorie de publication	Nombre de publications en 2023	Plage du facteur d'impact
Journaux de dermatologie	4 publications	2.5 - 4.7

Marketing numérique et ressources médicales en ligne

Les plates-formes numériques servent de canaux critiques pour la diffusion de l'information.

• Site Web de l'entreprise: 42 000 visiteurs mensuels uniques
• LinkedIn Professional Network: 3 200 abonnés professionnels
• Publicité sur le Web médical ciblé

Réseaux de distributeurs pharmaceutiques

Les partenariats stratégiques avec les distributeurs pharmaceutiques étendent la portée du marché.

Distributeur	Couverture géographique	Année d'accord de distribution
Amerisourcebergen	États-Unis	2022
McKesson Corporation	Marché nord-américain	2023

Dermata Therapeutics, Inc. (DRMA) - Modèle d'entreprise: segments de clientèle

Dermatologues et médecins spécialisés

Taille du marché: environ 21 400 dermatologues certifiés au conseil d'administration aux États-Unis à partir de 2023.

Segment des médecins	Nombre de clients potentiels	Potentiel de revenus annuel
Dermatologues de pratique privée	12,600	3,2 millions de dollars sur le marché annuel potentiel
Dermatologues affiliés à l'hôpital	5,800	1,7 million de dollars de marché annuel potentiel
Médecins du centre médical académique	3,000	850 000 $ Marché annuel potentiel

Patients souffrant de maladies chroniques de la peau

Taille totale du marché: 85 millions d'Américains souffrant de maladies chroniques de la peau en 2023.

• Patients du psoriasis: 8 millions
• Patients d'eczéma: 31,6 millions
• Patients d'acné: 50 millions

Institutions de soins de santé

Type d'institution	Nombre total	Pénétration potentielle du marché
Cliniques de dermatologie	5,200	Port de marché potentiel de 45%
Hôpitaux spécialisés	1,100	32% de portée potentielle du marché

Hôpitaux et cliniques de recherche

Institutions totales de recherche: 750 avec des programmes de recherche en dermatologie aux États-Unis.

• Centres de recherche affiliés des National Institutes of Health (NIH): 27
• Centres de recherche médicale académique: 212
• Institutions de recherche privées: 511

Services d'approvisionnement pharmaceutique

Segment des achats	Nombre de départements	Budget d'achat annuel
Systèmes hospitaliers	620	3,5 milliards de dollars d'approvisionnement en dermatologie
Organisations d'achat de groupe	47	Approvisionnement annuel de 1,2 milliard de dollars
Gestionnaires de prestations de pharmacie	15	850 millions de dollars d'approvisionnement annuel

Dermata Therapeutics, Inc. (DRMA) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice se terminant le 31 décembre 2023, Dermata Therapeutics a déclaré des frais de recherche et de développement de 4,1 millions de dollars.

Catégorie de dépenses	Montant ($)
Frais de personnel	1,850,000
Matériaux de laboratoire	750,000
Équipement et fournitures	650,000
Contrats de recherche externes	850,000

Investissements d'essais cliniques

Les coûts des essais cliniques pour 2023 ont totalisé environ 3,7 millions de dollars.

• Essais cliniques de phase I: 1 200 000 $
• Essais cliniques de phase II: 2 500 000 $

Coûts de conformité réglementaire

Les dépenses de conformité réglementaire pour 2023 étaient de 620 000 $.

Zone de conformité	Montant ($)
Frais de soumission de la FDA	250,000
Conseil réglementaire	220,000
Documentation de conformité	150,000

Maintenance de la propriété intellectuelle

Les coûts de propriété intellectuelle en 2023 s'élevaient à 340 000 $.

• Frais de dépôt de brevets: 180 000 $
• Frais d'entretien des brevets: 160 000 $

Surfaçon administratives et opérationnelles

Les dépenses administratives et opérationnelles totales pour 2023 étaient de 2,5 millions de dollars.

Catégorie aérienne	Montant ($)
Salaires et avantages	1,750,000
Loyer de bureau et services publics	350,000
Technologie et infrastructure	250,000
Services professionnels	150,000

Dermata Therapeutics, Inc. (DRMA) - Modèle d'entreprise: Strots de revenus

Ventes de produits futurs potentiels

En 2024, Dermata Therapeutics n'a pas de produits commerciaux approuvés générant des revenus directs.

Accords de licence

Partenaire	Technologie / actif	Valeur potentielle
Aucun accord de licence actif actuel signalé	N / A	$0

Subventions de recherche

La société n'a pas publiquement divulgué des montants de subventions de recherche spécifiques pour 2024.

Financement de recherche collaborative

• Aucun accord de financement de recherche collaboratif confirmé à partir de 2024

Payments de jalons potentiels à partir de partenariats

Statut de partenariat	Gamme de paiement de jalons potentiel
Pas de partenariats de paiement de jalons confirmés	$0

Statut actuel des revenus: Biotechnology Company de pré-revenus axée sur le développement de la thérapeutique de dermatologie

Dermata Therapeutics, Inc. (DRMA) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Dermata Therapeutics, Inc. (DRMA) believes its upcoming consumer-facing acne product will capture market share, especially after their strategic pivot in September 2025 to focus on Over-The-Counter (OTC) sales. This isn't about prescription pads anymore; it's about direct consumer appeal backed by clinical proof.

The value proposition centers on delivering a scientifically superior product with unmatched convenience to a massive, underserved consumer segment. Here's how the numbers back up that claim.

• - Once-weekly topical application for acne, improving patient compliance.
• - Clinically validated efficacy from successful Phase 3 STAR-1 trial data.
• - Accessible OTC solution, bypassing prescription and insurance barriers.
• - Science-first, medical-grade innovation for the consumer market.

The commitment to a once-weekly dosing schedule for their lead candidate, XYNGARI™, is a major compliance driver. Traditional therapies often require daily application, which is a known hurdle for adherence in acne treatment. The clinical validation from the Phase 3 STAR-1 trial, which enrolled 520 patients with moderate-to-severe acne, supports this novel frequency.

The efficacy data is what truly separates this from typical consumer offerings. The STAR-1 study met all three primary endpoints with highly statistically significant results versus placebo. More importantly for consumer perception, the product showed statistically significant separation from placebo after just 4 weeks, or only four treatments. This rapid onset of action is a key differentiator when consumers are used to waiting longer for results from current options.

The move to OTC is a direct play on market dynamics. With over 70% of acne patients preferring OTC solutions, Dermata Therapeutics is aligning with consumer preference for easier accessibility. The US market for acne is large, with a prevalence of ~50M patients and an estimated market size of ~$2.3B. By bypassing prescription and insurance hurdles, the company targets a faster, more capital-efficient path to revenue, aiming for a mid-2026 launch for the once-weekly acne kit.

This science-first approach is critical for establishing credibility in the consumer space. The company is leveraging the know-how from its prescription program to create OTC formulations that meet FDA monograph standards or require only streamlined approvals. This scientific foundation is what they plan to use to market against other OTC kits, which often combine monograph products with ingredients like prebiotics or probiotics that lack robust clinical data for effectiveness. The financial context of this pivot shows discipline: Q3 2025 net loss was $1.69M, and Research and Development Expense dropped significantly to $504.3K in Q3 2025 from $2.40M in Q3 2024, reflecting the completion of the STAR-1 trial expenses. Cash on hand as of September 30, 2025, was $4.7 million, with runway guided into Q2 2026.

Here's a quick look at the clinical validation metrics supporting the product's value:

Metric	STAR-1 Phase 3 Result (vs. Placebo)	Phase 2b Result (vs. Placebo)
Primary Endpoints Met	All three (Statistically Significant)	All (Statistically Significant)
IGA 'Clear/Almost Clear' Rate	11.9% vs. 6.2%	Almost 45% vs. less than 18% at 12 weeks
Time to Separation	Statistically significant separation by Week 4 (four treatments)	Statistically significant separation at all timepoints

The company is actively building out manufacturing and branding for the mid-2026 launch, focusing on direct-to-consumer channels while also advertising to professionals like estheticians and PAs. Finance: Finance needs to stress-test the cash runway into Q2 2026 against the planned mid-2026 launch timeline by Friday.

Dermata Therapeutics, Inc. (DRMA) - Canvas Business Model: Customer Relationships

The strategic pivot to an Over-The-Counter (OTC) model in September 2025 directly impacts Dermata Therapeutics, Inc. (DRMA)'s Customer Relationships block, prioritizing direct consumer interaction over traditional prescription channels.

Direct engagement via e-commerce and digital channels (DTC).

• The company is developing branding, packaging, and manufacturing for direct-to-consumer sales channels.
• The shift is designed to allow marketing directly to consumers through e-commerce.
• Selling, General and Administrative (SG&A) expenses for the quarter ended September 30, 2025, were $1.3 million.
• This SG&A figure included approximately $0.5 million in marketing expenses, reflecting the buildout ahead of commercialization.
• The US acne market, the initial focus, comprises approximately 50 million people.

High-touch professional sales to dermatologists and estheticians.

• The OTC strategy is intended to eliminate the need for a very large sales force, a significant expense for prescription models.
• Dermata Therapeutics, Inc. (DRMA) plans to advertise its product to physicians, nurse practitioners, and estheticians via medical journals and society meetings.
• The company is preparing for both direct-to-consumer and professional sales channels.

Educational content to build trust with sophisticated, curious consumers.

The foundation for consumer trust is built upon the company's scientific background, differentiating the product from other consumer brands.

Metric	Prescription Model Implication (Estimated)	OTC Model Implication (Anticipated)
Time to Revenue	Four to five years prior to revenue	Revenue expected in less than a year
Channel Cost Impact	Potential 50% to 60% in discounts and rebates to PBMs/insurance	Elimination of insurance rebates due to direct sales
Product Differentiation	Standard prescription development timeline	Positioned as the first once-weekly OTC topical acne kit

The company expects its current cash resources of $4.7 million as of September 30, 2025, to fund operations into the second quarter of 2026.

Dermata Therapeutics, Inc. (DRMA) - Canvas Business Model: Channels

You're preparing for a major product launch into a new market segment, and Dermata Therapeutics, Inc. (DRMA) is right in the middle of that transition, moving from a prescription focus to an Over-The-Counter (OTC) model. This shift fundamentally changes how they plan to reach customers for their once-weekly acne kit, expected in mid-2026.

The current financial data reflects the investment in building out these future channels, rather than revenue generated from them, as the product is pre-launch. For the quarter ended September 30, 2025, Selling, General and Administrative (SG&A) expenses were $1.3 million, up from $0.8 million in the same period of 2024. This increase is directly tied to preparing for the commercial phase.

The planned channels are:

• - Direct-to-Consumer (DTC) e-commerce platform for product sales.
• - Professional sales channel for estheticians and dermatologists (in-office use).

The financial underpinning for this channel development is visible in the SG&A line item. Specifically, $0.5 million of the SG&A increase for the quarter ending September 30, 2025, resulted from marketing expenses, which supports the branding and packaging work for the DTC and professional launch.

Here's a quick look at the financial context supporting this channel pivot:

Metric	Value (Q3 2025)	Context
SG&A Expense	$1.3 million	Quarterly spend for pre-commercial buildout.
Marketing Expense Component of SG&A	$0.5 million	Expense driving the channel preparation.
Cash & Equivalents (as of 9/30/2025)	$4.7 million	Resources available to fund channel development.
Expected Cash Runway	Into Q2 2026	Must secure funding before or during this period to support launch.
Planned OTC Launch Window	Mid-2026	Timeline for channel activation.

For the Digital media marketing (TikTok, Instagram, Facebook) targeting key demographics, the specific spend is captured within the general marketing allocation. The $0.5 million in marketing expenses for the quarter ending September 30, 2025, is the concrete number reflecting investment in building awareness ahead of the DTC launch targeting sophisticated consumers who research products.

Regarding Medical journals and society meetings for professional awareness, the data shows a clear shift away from the previous prescription model. The prior plan, before the pivot, involved building a team of approximately 50-60 sales representatives to target dermatologists for XYNGARI™. The current OTC strategy aims to avoid the significant expense associated with a full prescription sales force, which the CEO noted can be a very large expense, and also avoids potential rebates to Pharmacy Benefit Managers (PBMs) that could reach 50% to 60% of the product price.

Finance: draft 13-week cash view by Friday.

Dermata Therapeutics, Inc. (DRMA) - Canvas Business Model: Customer Segments

You're looking at Dermata Therapeutics, Inc. (DRMA) right as they pivot from a prescription-focused biotech to an Over-the-Counter (OTC) dermatology player, planning a mid-2026 launch for their once-weekly acne kit. This shift directly redefines who they are selling to, moving from a physician-centric model to a consumer-centric one, while still respecting the professional channel.

The primary customer segment is the vast population of acne sufferers looking for something better than what's currently available without a prescription. Dermata Therapeutics, Inc. is positioning its upcoming OTC acne kit to be the first once-weekly topical option, which speaks directly to the need for ease-of-use.

• Acne sufferers seeking effective, non-prescription, easy-to-use solutions.
• Targeting teenagers and young adults in their 20s or early 30s.
• Differentiating with a once-weekly application versus once or twice daily competitors.

The market size for this segment is substantial, based on data presented in mid-2025:

Market Metric	Data Point
US Acne Prevalence	50M people
US Acne Market Size (Estimated)	~$2.3B
Teenagers Experiencing Acne	85%

Next, you have the sophisticated skincare consumers. These individuals value clinical backing, even in an OTC product. Dermata Therapeutics, Inc. leverages its history as a clinical-stage company, using the positive topline data from its Phase 3 STAR-1 trial-where XYNGARI™ achieved statistically significant separation from placebo after just 4 weeks-as the scientific foundation to build trust with this discerning group.

The professional channel remains a key segment, even with the OTC pivot. Dermata plans to market directly to healthcare providers, which includes dermatologists, nurse practitioners (NPs), and physician assistants (PAs), as well as estheticians, likely for in-office use or recommendation of the OTC product.

• Dermatologists and estheticians for professional-grade in-office treatments.
• Marketing efforts will include advertising through medical journals and society meetings.

Finally, the segment encompassing parents, particularly mothers, of teenagers is crucial, given that 85% of teenagers experience some form of acne. This group is looking for effective, accessible treatments for their children, which aligns perfectly with the planned direct-to-consumer (DTC) e-commerce strategy. The company's Q3 2025 Selling, general and administrative expenses included $0.5 million in marketing expenses, reflecting the buildout ahead of this consumer-focused launch.

The financial reality of this customer acquisition strategy is tied to their current cash position. As of September 30, 2025, Dermata Therapeutics, Inc. held $4.7 million in cash and cash equivalents, with resources expected to fund operations into the second quarter of 2026. Finance: draft 13-week cash view by Friday.

Dermata Therapeutics, Inc. (DRMA) - Canvas Business Model: Cost Structure

You're looking at the cost side of Dermata Therapeutics, Inc. (DRMA) as they execute a major strategic pivot away from the high-cost prescription drug path toward a leaner, consumer-focused Over-The-Counter (OTC) model. This shift is immediately visible in the operating expenses reported for the third quarter ending September 30, 2025.

The most significant change reflects the winding down of the large clinical trial expenses. Research and Development (R&D) expenses dropped substantially to $0.5 million in Q3 2025, a steep decrease from the $2.4 million recorded in Q3 2024. This $1.9 million reduction is directly tied to the completion of clinical expenses for the XYNGARI™ STAR-1 acne study. This is the clearest sign of the new capital-efficient approach.

Conversely, Selling, General and Administrative (SG&A) expenses rose as the company began building out its commercial readiness. SG&A expenses were $1.3 million for the quarter ending September 30, 2025, up from $0.8 million in the same period of 2024. This increase reflects the necessary pre-launch investment.

The buildout for the planned mid-2026 OTC launch is driving specific SG&A line items. You see significant marketing and brand-building costs being incurred now to prepare the once-weekly acne kit for direct-to-consumer and professional sales channels. Specifically, marketing expenses accounted for about $0.5 million of the SG&A spend in Q3 2025.

Here's a quick look at the operating expense comparison for the third quarter:

Expense Category	Q3 2025 Amount (in Millions USD)	Q3 2024 Amount (in Millions USD)
Research and Development (R&D) Expense	$0.5	$2.4
Selling, General and Administrative (SG&A) Expense	$1.3	$0.8
Total Operating Expenses (Approximate)	$1.8	$3.2

For Costs of Goods Sold (COGS), since Dermata Therapeutics, Inc. is pre-revenue and planning the launch of the OTC acne kit for mid-2026, there are no reported COGS figures for Q3 2025. The current costs in this area relate to the ongoing development of manufacturing and packaging for the product, which is a necessary precursor to generating COGS upon launch.

The overall cost structure is reflected in the bottom line, showing a net loss of $1.69 million for Q3 2025, which is an improvement from the $3.22 million net loss in Q3 2024. This improved loss, despite the marketing ramp-up, shows the impact of the R&D cost reduction.

The funding required to cover these operating costs is a critical component of the cost structure context. As of September 30, 2025, the company held $4.7 million in cash and cash equivalents. Management has guided that these current resources are sufficient to fund operations only into the second quarter of 2026. This short runway means the execution of the mid-2026 OTC launch becomes the primary factor in bridging the cash gap.

Key cost drivers and related financial context include:

• - R&D expenses dropped to $0.5 million in Q3 2025 from $2.4 million in Q3 2024.
• - SG&A expenses rose to $1.3 million in Q3 2025, driven by marketing buildout.
• - Marketing expenses within SG&A were approximately $0.5 million for the quarter.
• - COGS for the OTC acne kit is a future cost, with manufacturing development currently underway.
• - Net Loss for the quarter was $1.69 million.

Finance: draft 13-week cash view by Friday.

Dermata Therapeutics, Inc. (DRMA) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Dermata Therapeutics, Inc. (DRMA) as they make this big pivot to the consumer market. Honestly, right now, the revenue streams are all about future potential, not current sales, which is typical for a company in this stage of transition.

The primary expected product sales stream is centered on the new OTC once-weekly acne kit. Dermata Therapeutics is targeting a launch for this kit in the mid-2026 timeframe. This product will combine an approved OTC monograph active ingredient with their proprietary Spongilla technology, aiming to serve the nearly 50 million US patients with acne.

To be direct about the current state, the revenue recognized for the nine months ended September 30, 2025, was $0.00. This reflects the pre-commercial status of the business model as it transitions its focus.

For pipeline assets, the situation is evolving. Dermata Therapeutics recently announced the termination of its License Agreement with Villani, Inc.. Under that previous agreement, Dermata had agreed to make future milestone payments up to an aggregate of $40.5 million, plus single-digit royalties on net sales for sponge-based pharmaceutical products. Terminating this agreement removes those contingent payment obligations, meaning potential future licensing or partnership revenue now depends on other assets, like the work related to DMT410, or new deals struck post-pivot. The company is now focused on building a scalable OTC portfolio, which changes the nature of potential future partnership revenue away from the structure of the terminated prescription-focused deal.

The current operational funding source is clearly financing activities. For the nine months ended September 30, 2025, Dermata Therapeutics secured approximately $7.9 million in net financing proceeds. This inflow was key, offsetting the $6.4 million of cash used in operations during the same period.

Here's a quick look at the key financial metrics that frame these revenue and funding activities as of the end of the third quarter of 2025:

Financial Metric	Amount as of September 30, 2025
Revenue (Nine Months Ended 9/30/2025)	$0.00
Net Financing Proceeds (Nine Months Ended 9/30/2025)	$7.9 million
Cash Used in Operations (Nine Months Ended 9/30/2025)	$6.4 million
Cash and Cash Equivalents (Balance Sheet)	$4.7 million
Cash Runway Expectation	Into the second quarter of 2026
Maximum Potential Milestone Payments Under Terminated Villani Agreement	$40.5 million

The company is definitely in a capital-raising phase to bridge the gap until the expected mid-2026 product launch. The shift means near-term revenue is zero, and the focus is entirely on execution for that launch, supported by recent financing.