Financial PositionThe company raised gross proceeds of ~$2.6M in a private placement offering, and it is believed to have sufficient liquidity to last into 2025.
Regulatory MilestoneDRMA has completed patient enrollment and visitations in its initial Phase 3 clinical trial for the treatment of moderate-to-severe acne with Xyngari, a regulatory milestone.
Technology And Market OpportunitiesDespite being an early stage development company, DRMA's unique Spongilla technology and promising clinical acne data justify a price target due to significant opportunities in various treatment markets.