Dermata Therapeutics FY23 EPS $(2.67) Vs $(13.92) YoY
Portfolio Pulse from Benzinga Newsdesk
Dermata Therapeutics (DRMA) reported a significant improvement in its FY23 EPS, reducing losses from $(13.92) to $(2.67) YoY. The company ended the year with $7.4 million in cash, up from $6.2 million, thanks to $7.6 million net from financings. It expects funds to last into Q3 2024. R&D expenses dropped to $4.1 million from $5.7 million, while G&A expenses remained steady at $4.0 million, with a decrease in stock-based compensation.
March 21, 2024 | 8:23 pm
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POSITIVE IMPACT
Dermata Therapeutics significantly reduced its FY23 losses and increased its cash reserves, with a positive outlook on funding into Q3 2024.
The significant reduction in losses and the increase in cash reserves are positive indicators of Dermata Therapeutics' financial health and operational efficiency. The successful financings and controlled R&D and G&A expenses contribute to a positive outlook, likely encouraging investor confidence and potentially leading to a short-term uptick in DRMA's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100