New Risk • May 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$8.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$8.3m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings are forecast to decline by an average of 19% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (US$4.95m market cap). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$9.7m net loss next year). 공시 • Apr 09
Dermata Therapeutics, Inc., Annual General Meeting, May 27, 2026 Dermata Therapeutics, Inc., Annual General Meeting, May 27, 2026. New Risk • Jan 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (476% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (US$2.45m market cap). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$9.0m net loss next year). New Risk • Jan 08
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$9.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$9.3m free cash flow). Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (476% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (US$2.66m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$9.0m net loss next year). Share price has been volatile over the past 3 months (15% average weekly change). New Risk • Sep 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$11m free cash flow). Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (418% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (US$4.02m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$9.8m net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). 공시 • Jul 08
Dermata Therapeutics, Inc. Announces Panel Grants Company’s Request for an Exception Until August 14, 2025 As previously reported, on May 14, 2025, Dermata Therapeutics, Inc. received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC indicating that, based upon the closing bid price of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), for the prior 30 consecutive business days, the Company was not in compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on Nasdaq, as set in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). The Staff further indicated that, based upon the Company’s implementation of a reverse stock split within the prior one-year period, the Company’s securities were subject to delisting from the Nasdaq Capital Market and would be suspended at the opening of business on May 23, 2025. The Company timely requested a hearing before the Panel, which request stayed any further suspension or delisting action by Nasdaq, pending the ultimate conclusion of the hearing process. On July 2, 2025, the Panel notified the Company that it has granted Company’s request for an exception until August 14, 2025, to demonstrate compliance with the Minimum Bid Price Requirement. Pursuant to the Exception, the Company is required to provide the Panel with prompt notification of any significant events that occur, including any event that may call into question the Company’s ability to satisfy the terms of the Exception. The Company is actively pursuing measures to regain compliance with the Minimum Bid Price Requirement, including seeking shareholder approval for a reverse stock split at its annual stockholders meeting on July 15, 2025, and if approved, implementing a reverse stock split. There can be no assurance that the Company will be able to regain compliance and maintain its listing on the Nasdaq Capital Market. If the Company does not regain compliance, or if the Company fails to satisfy another Nasdaq requirement for continued listing, Nasdaq could provide notice that the Company’s securities will become subject to delisting. 
