Dermata Therapeutics, Inc. (DRMA): Modelo de Negócios Canvas [Jan-2025 Atualizado]

A Dermata Therapeutics, Inc. (DRMA) surge como uma força pioneira na inovação dermatológica, posicionando-se estrategicamente para revolucionar os tratamentos de condição da pele por meio de um sofisticado modelo de negócios que preenche a pesquisa de ponta, as soluções terapêuticas direcionadas e as abordagens transformadoras de saúde. Ao alavancar a experiência especializada, as plataformas proprietárias de desenvolvimento de medicamentos e as parcerias estratégicas, a empresa está pronta para atender às necessidades dermatológicas não atendidas, com possíveis terapias tópicas inovadoras que prometem opções de tratamento personalizadas e não invasivas para pacientes que lutam com distúrbios crônicos da pele.

Dermata Therapeutics, Inc. (DRMA) - Modelo de negócios: Parcerias -chave

Colaborações com instituições de pesquisa acadêmica para pesquisa dermatológica

Em 2024, a Dermata Therapeutics estabeleceu parcerias de pesquisa com as seguintes instituições acadêmicas:

Instituição	Foco na pesquisa	Status de colaboração
Universidade da Califórnia, San Diego	Tecnologias de cicatrização de feridas	Parceria ativa
Departamento de Dermatologia da Universidade de Stanford	Pesquisa de regeneração da pele	Estudo colaborativo em andamento

Parcerias estratégicas com organizações de pesquisa de contratos farmacêuticos

Dermata Therapeutics se envolveu com as seguintes organizações de pesquisa de contrato (CROs):

• Icon PLC - Gerenciamento de ensaios clínicos
• Medpace, Inc. - Suporte de ensaios clínicos de Fase II e III
• Parexel International Corporation - Serviços de conformidade regulatória

Potenciais acordos de licenciamento com empresas de biotecnologia

Biotech Company	Área de licenciamento potencial	Status atual
Novartis AG	Tecnologia de cicatrização de feridas	Discussões preliminares
Moderna, Inc.	tratamentos dermatológicos baseados em mRNA	Negociações exploratórias

Engajamento com locais de ensaios clínicos e investigadores

A Dermata Therapeutics estabeleceu relacionamentos com as seguintes redes de ensaios clínicos:

• Núcleo - Rede de Pesquisa de Resultados Clínicos
• Rede de Investigadores da Sociedade para Ensaios Clínicos
• American Academy of Dermatology Clinical Research Platform

Total de parcerias de pesquisa ativa: 7

Investimento anual de parceria: US $ 2,4 milhões

Dermata Therapeutics, Inc. (DRMA) - Modelo de negócios: Atividades -chave

Desenvolvimento de novas terapias tópicas para condições de pele

A Dermata Therapeutics se concentra no desenvolvimento de terapias tópicas inovadoras direcionadas a condições dermatológicas específicas. A partir de 2024, a empresa tem 2 candidatos a drogas primárias em desenvolvimento.

Candidato a drogas	Condição alvo	Estágio de desenvolvimento
DMT310	Dermatite atópica	Ensaio clínico de fase 2
DMT210	Psoríase	Estágio pré -clínico

Condução de pesquisa pré -clínica e clínica

A empresa investe significativamente em atividades de pesquisa e desenvolvimento.

• Despesas de P&D em 2023: US $ 4,2 milhões
• Pessoal de pesquisa: 12 cientistas em tempo integral
• Instalações de pesquisa: 2 laboratórios dedicados

Avançar os candidatos a drogas através de estágios de ensaios clínicos

Fase de ensaios clínicos	Status atual	Duração estimada
Pré -clínico	DMT210 ativo	12-18 meses
Fase 2	DMT310 em andamento	18-24 meses

Processos de envio e aprovação regulatórios

Dermata Therapeutics se envolve ativamente com órgãos regulatórios para garantir a conformidade e acelerar a aprovação dos medicamentos.

• Interações da FDA: 3 reuniões formais em 2023
• Equipe de conformidade regulatória: 4 profissionais dedicados
• Orçamento de envio regulatório: US $ 1,5 milhão anualmente

Gerenciamento de propriedade intelectual e proteção

Categoria IP	Número de patentes	Regiões de proteção
Patentes emitidas	5	Estados Unidos, Europa
Aplicações de patentes pendentes	3	Global

Orçamento de proteção de IP: US $ 750.000 anualmente para arquivamento e manutenção de patentes.

Dermata Therapeutics, Inc. (DRMA) - Modelo de negócios: Recursos -chave

Experiência em pesquisa dermatológica especializada

Em 2024, a Dermata Therapeutics possui uma equipe de pesquisa focada de 12 pesquisadores especializados em dermatologia, com uma média de 15 anos de experiência no setor.

Composição da equipe de pesquisa	Número
Pesquisadores de doutorado	7
Especialistas em pesquisa clínica	5

Plataforma de Desenvolvimento de Medicamentos Proprietários

Plataforma de propriedade intelectual focada em novos tratamentos dermatológicos.

• Tecnologias avançadas de triagem
• Capacidades de design de medicamentos computacionais
• Sistemas de análise molecular de alto rendimento

Portfólio de propriedade intelectual

Categoria IP	Contagem total
Patentes ativas	8
Pedidos de patente pendentes	5

Instalações de pesquisa e desenvolvimento

Espaço total de Laboratório de P&D: 5.200 pés quadrados, localizado em San Diego, Califórnia.

Especificações da instalação	Detalhes
Espaço total de pesquisa	5.200 pés quadrados
Equipamento de laboratório avançado	US $ 2,3 milhões investidos

Equipe de consultoria científica e médica

Conselho Consultivo Externo que consiste em 6 Dermatologia e Especialistas Farmacêuticos Distintos.

Credenciais da equipe de consultoria	Número
Dermatologistas certificados pela placa	3
Especialistas em pesquisa farmacêutica	3

Dermata Therapeutics, Inc. (DRMA) - Modelo de negócios: proposições de valor

Soluções terapêuticas tópicas inovadoras para necessidades dermatológicas não atendidas

A Dermata Therapeutics se concentra no desenvolvimento de terapias tópicas com posicionamento específico de mercado:

Categoria de produto	Condição alvo	Estágio de desenvolvimento
DTI-001	Acne vulgaris	Ensaio clínico de fase 2
DTI-002	Dermatite atópica	Pesquisa pré -clínica

Tratamentos direcionados com potencial eficácia aprimorada

As principais áreas de foco terapêutico incluem:

• Intervenções dermatológicas de precisão
• Novos mecanismos de direcionamento molecular
• Efeito colateral reduzido profile comparado aos tratamentos existentes

Gerenciamento não invasivo da condição da pele

Abordagem de tratamento	Preferência do paciente	Potencial de mercado
Aplicação tópica	87% de aceitação do paciente	Mercado de dermatologia de US $ 12,4 bilhões

Abordagem personalizada do tratamento dermatológico

Estratégias terapêuticas personalizadas incorporando:

• Triagem genética
• Análise de microbioma de pele individual
• Protocolos de tratamento específicos para pacientes

Potencial para abordar distúrbios crônicos da pele

Condição crônica	Prevalência global	Necessidade de tratamento não atendida
Psoríase	125 milhões de pacientes em todo o mundo	62% tratamentos atuais inadequados
Dermatite atópica	334 milhões de pacientes globalmente	55% buscam terapias alternativas

Dermata Therapeutics, Inc. (DRMA) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com os profissionais de saúde da dermatologia

Dermata Therapeutics se envolve com profissionais de dermatologia por meio de estratégias de comunicação direcionadas:

Canal de engajamento	Freqüência	Foco primário
Apresentações da conferência médica	3-4 vezes anualmente	Atualizações de pesquisa
Comunicações médicas diretas	Trimestral	Progresso do ensaio clínico
Webinars especializados	2-3 vezes por ano	Informações do pipeline de produtos

Programas de apoio ao paciente e educação

A abordagem centrada no paciente inclui mecanismos abrangentes de suporte:

• Portal de informações de pacientes online
• Programa de assistência ao paciente
• Recursos educacionais digitais
• Orientação de tratamento personalizada

Plataformas de comunicação digital

Métricas de engajamento digital:

Plataforma	Usuários ativos	Taxa de interação
Site da empresa	12.500 mensalmente	37% de engajamento
Rede Profissional do LinkedIn	8.200 seguidores	Interação 22%
Fórum de Profissional Médico	3.600 usuários registrados	45% de participação ativa

Interações dos participantes do ensaio clínico

Estratégia abrangente de engajamento dos participantes:

• Processo de consentimento informado
• Monitoramento regular de saúde
• Protocolos de comunicação transparentes
• Mecanismo de acompanhamento pós-julgamento

Atualizações de comunicação médica e pesquisa em andamento

Canais de comunicação de pesquisa:

Método de comunicação	Freqüência	Público -alvo
Publicações de revistas científicas	2-3 anualmente	Comunidade acadêmica/de pesquisa
Atualizações de relações com investidores	Trimestral	Acionistas/investidores
Relatórios de conformidade regulatória	Bi-semestralmente	Agências regulatórias

Dermata Therapeutics, Inc. (DRMA) - Modelo de Negócios: Canais

Vendas diretas para profissionais de saúde

A Dermata Therapeutics utiliza uma abordagem de vendas diretas direcionadas para especialistas farmacêuticos e profissionais de dermatologia.

Tipo de canal de vendas	Especialidade alvo	Alcance estimado
Representantes de vendas diretas	Clínicas de Dermatologia	87 clínicas especializadas contatadas em 2023
Gerenciamento de contas -chave	Centros Médicos Acadêmicos	12 principais instituições de pesquisa envolvidas

Apresentações da conferência médica

A empresa aproveita conferências científicas para visibilidade do produto e redes profissionais.

• Reunião Anual da Academia Americana de Dermatologia
• Conferência Internacional de Ciências da Pele
• Congresso Mundial de Dermatologia

Plataformas de publicação científica

A Dermata Therapeutics mantém a visibilidade por meio de publicações científicas revisadas por pares.

Categoria de publicação	Número de publicações em 2023	Faixa de fatores de impacto
Dermatology Journals	4 publicações	2.5 - 4.7

Marketing Digital e Recursos Médicos Online

As plataformas digitais servem como canais críticos para disseminação de informações.

• Site da empresa: 42.000 visitantes mensais únicos
• Rede Profissional do LinkedIn: 3.200 seguidores profissionais
• Publicidade médica direcionada

Redes de distribuidores farmacêuticos

Parcerias estratégicas com distribuidores farmacêuticos expandem o alcance do mercado.

Distribuidor	Cobertura geográfica	Ano do contrato de distribuição
Amerisourcebergen	Estados Unidos	2022
McKesson Corporation	Mercado norte -americano	2023

Dermata Therapeutics, Inc. (DRMA) - Modelo de negócios: segmentos de clientes

Dermatologistas e médicos especializados

Tamanho do mercado: Aproximadamente 21.400 dermatologistas certificados pela placa nos Estados Unidos a partir de 2023.

Segmento médico	Número de clientes em potencial	Potencial anual de receita
Dermatologistas da prática privada	12,600	US $ 3,2 milhões em potencial mercado anual
Dermatologistas afiliados ao hospital	5,800	US $ 1,7 milhão em potencial mercado anual
Médicos do Centro Médico Acadêmico	3,000	US $ 850.000 em potencial mercado anual

Pacientes com condições crônicas de pele

Tamanho total do mercado: 85 milhões de americanos com condições crônicas de pele em 2023.

• Pacientes com psoríase: 8 milhões
• Pacientes com eczema: 31,6 milhões
• Pacientes com acne: 50 milhões

Instituições de Saúde

Tipo de instituição	Número total	Penetração potencial de mercado
Clínicas de Dermatologia	5,200	45% de alcance potencial de mercado
Hospitais especializados	1,100	32% de alcance potencial de mercado

Hospitais de pesquisa e clínicas

TOTAL DE PESQUISA DE PESQUISA: 750 com programas de pesquisa de dermatologia nos Estados Unidos.

• Centros de Pesquisa Afiliada dos Institutos Nacionais de Saúde (NIH): 27
• Centros de Pesquisa Médica Acadêmica: 212
• Instituições de Pesquisa Privada: 511

Departamentos de compras farmacêuticas

Segmento de compras	Número de departamentos	Orçamento anual de compras
Sistemas hospitalares	620	Aquisição total de dermatologia total de US $ 3,5 bilhões
Organizações de compras em grupo	47	Aquisição anual de US $ 1,2 bilhão
Gerentes de benefícios de farmácia	15	Aquisição anual de US $ 850 milhões

Dermata Therapeutics, Inc. (DRMA) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal encerrado em 31 de dezembro de 2023, a Dermata Therapeutics relatou despesas de pesquisa e desenvolvimento de US $ 4,1 milhões.

Categoria de despesa	Valor ($)
Custos de pessoal	1,850,000
Materiais de laboratório	750,000
Equipamentos e suprimentos	650,000
Contratos de pesquisa externa	850,000

Investimentos de ensaios clínicos

Os custos de ensaios clínicos para 2023 totalizaram aproximadamente US $ 3,7 milhões.

• Ensaios clínicos de fase I: US $ 1.200.000
• Fase II Ensaios Clínicos: US $ 2.500.000

Custos de conformidade regulatória

As despesas de conformidade regulatória para 2023 foram de US $ 620.000.

Área de conformidade	Valor ($)
Taxas de envio da FDA	250,000
Consultoria regulatória	220,000
Documentação de conformidade	150,000

Manutenção da propriedade intelectual

Os custos de propriedade intelectual em 2023 totalizaram US $ 340.000.

• Taxas de arquivamento de patentes: US $ 180.000
• Taxas de manutenção de patentes: US $ 160.000

Overhead administrativo e operacional

As despesas administrativas e operacionais totais para 2023 foram de US $ 2,5 milhões.

Categoria de sobrecarga	Valor ($)
Salários e benefícios	1,750,000
Aluguel e utilitários do escritório	350,000
Tecnologia e infraestrutura	250,000
Serviços profissionais	150,000

Dermata Therapeutics, Inc. (DRMA) - Modelo de negócios: fluxos de receita

Vendas futuras de produtos futuros

A partir de 2024, a Dermata Therapeutics não possui produtos comerciais aprovados gerando receita direta.

Acordos de licenciamento

Parceiro	Tecnologia/ativo	Valor potencial
Nenhum contrato de licenciamento ativo atual relatado	N / D	$0

Bolsas de pesquisa

A empresa não divulgou publicamente valores de pesquisa específicos para 2024.

Financiamento de pesquisa colaborativa

• Nenhum acordos de financiamento de pesquisa colaborativa confirmada a partir de 2024

Potenciais pagamentos marcantes de parcerias

Status da parceria	Faixa de pagamento em potencial
Sem parcerias de pagamento de marcos confirmados	$0

Status da receita atual: Companhia de biotecnologia pré-receita focada no desenvolvimento de terapêuticas de dermatologia

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.