Dermata Therapeutics, Inc. (NASDAQ:DRMA) Sees Large Decline in Short Interest

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 188,800 shares, a drop of 23.8% from the February 28th total of 247,700 shares. Currently, 4.7% of the company’s stock are sold short. Based on an average daily trading volume, of 349,300 shares, the days-to-cover ratio is presently 0.5 days.

Dermata Therapeutics Price Performance

DRMA traded down $0.00 during trading on Wednesday, hitting $1.00. The company had a trading volume of 185,703 shares, compared to its average volume of 1,611,095. The business has a 50-day moving average of $1.20 and a 200-day moving average of $1.30. Dermata Therapeutics has a 1-year low of $0.95 and a 1-year high of $6.67. The company has a market cap of $5.40 million, a PE ratio of -0.06 and a beta of 0.65.

About Dermata Therapeutics

Dermata Therapeutics, Inc, a late-stage medical dermatology company, focuses on identifying, developing, and commercializing pharmaceutical product candidates for the treatment of medical and aesthetic skin conditions and diseases. The company's lead product candidate is DMT310, which has completed Phase IIb clinical trial for treatment of moderate-to-severe acne; and Phase Ib proof of concept (POC) trial for Mild-to-Moderate Psoriasis, as well as is in a Phase 2 clinical trial for treatment of moderate-to-severe rosacea.