Dermata Therapeutics, Inc. DRMAW shares rallied in after-hours trading following a pivotal development – the granting of a new patent in Japan for its revolutionary DMT410 program designed to address hyperhidrosis.
The Breakdown: The company revealed the patent issuance post-market close on Thursday, marking a milestone as Dermata’s inaugural patent for DMT410.
The innovative program harnesses the company’s Spongilla technology to administer botulinum toxin topically in managing the condition.
Moreover, there are discussions about potential partnerships to advance the development of DMT410.
Speaking about the development, Gerry Proehl, Dermata’s chairman, president, and CEO, commented, “We believe this patent issuance further validates DMT410’s novel approach to easily administer botulinum toxin topically, eliminating the need for multiple injections by patients.”
“We are enthusiastic about the prospects the DMT410 program offers to patients, not only for treating axillary hyperhidrosis – as evidenced in our proof-of-concept study but also potentially for palmar and plantar hyperhidrosis, for which no approved products currently exist,” he added.
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DRMA Price Action: Shares of Dermata surged by 96.7% to $1.20 in the after-hours session at the time of publication, according to Benzinga Pro.
Photo: Steve Buissinne from Pixabay
