Dermata reports second-quarter 2026 results and $4.4 million in cash

Dermata Therapeutics, Inc. (Nasdaq: DRMA) reported financial results for the second quarter ended June 30, 2026, and highlighted corporate progress in a press release filed with a Form 8-K dated August 11, 2026. The company said it had $4.4 million in cash and cash equivalents at June 30, 2026, compared with $7.5 million at December 31, 2025. It also said it expects to launch its first direct-to-consumer product, Tome Foundational Treatment, on August 25, 2026.

Gerry Proehl, Dermata's chairman, president and chief executive officer, described the launch as the first commercial product from the company's strategic pivot. He said: "We expect this launch will allow Dermata to begin generating revenues in the near future while continuing to build long-term value for our shareholders." The release says the company has finished manufacturing and packaging the product.

Corporate progress

In June 2026, the company exhibited at the Be+Well Beauty and Wellness Show in Las Vegas, Nevada, to launch the Tome brand and provide attendees with more information on the Foundational Treatment. The release says the show hosts thousands of esthetics, spa and wellness professionals, with 400+ brands in attendance.

The company also began a social media campaign for the Tome brand. The release says the campaign is designed to increase brand awareness, engage prospective consumers and support the ecommerce launch of the first product.

Financial results

Cash used in operations was $4.9 million in the six months ended June 30, 2026. Investing activities used $0.1 million, and the company received approximately $1.9 million of at-the-market financing proceeds. Cash and cash equivalents fell by $3.1 million over the six months, from $7.5 million at December 31, 2025. The company expects its current cash resources to be sufficient to fund operations into the fourth quarter of 2026.

Research and development expenses were $0.2 million for the quarter ended June 30, 2026, compared with $0.6 million a year earlier. The company said the decrease came from prioritizing the commercial launch, and it expects research and development expenses to keep decreasing compared with prior periods. Selling, general and administrative expenses were $2.8 million, compared with $1.2 million a year earlier.

The company attributed the rise in selling, general and administrative expenses to $0.7 million of increased legal fees, a $0.6 million increase in marketing and other commercialization expenses, and a $0.3 million increase in employee compensation as staff moved from research and development toward pre-commercial work.

Background

The company's 10-K, filed March 26, 2026, describes the decision that led here. In September 2025, management and the board concluded that a direct-to-consumer and business-to-business skincare business would be a better path to commercialization than the prescription route for XYNGARI. The 10-K says research and development expense was $2.9 million for 2025, compared with $8.2 million for 2024.

The risks ahead

The company still has to turn a pivot into revenue before its cash runs out. It reported $4.4 million of cash at June 30, 2026, down from $7.5 million at December 31, 2025, and cash used in operations was $4.9 million in the six months. The company says its current cash is sufficient to fund operations into the fourth quarter of 2026. It plans to launch Tome Foundational Treatment on August 25, 2026, followed later by an over-the-counter acne product. The release reports no revenue and no sales yet, and it gives no forecast of what Tome will earn. Part of the six-month cash burn was covered by at-the-market share sales, so existing holders carry that dilution. The release says these plans are forward-looking and carry known and unknown risks.

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