Dermata Secures New Patent for DMT410 Program
Dermata Therapeutics, Inc. DRMAW experienced an unprecedented surge during Thursday’s after-hours trading session following the company’s revelation of a newly acquired patent in Japan for its ground-breaking DMT410 program, designed to combat hyperhidrosis.
Key Developments
What To Know: The groundbreaking announcement of the patent, made just after the market closed on Thursday, marks a significant milestone for Dermata as it secures its first patent for the novel DMT410 program.
The DMT410 program capitalizes on the company’s state-of-the-art Spongilla technology to administer botulinum toxin topically, revolutionizing the approach to treating the condition.
Moreover, discussions are underway for potential partnerships aimed at advancing the development of DMT410.
The enthusiastic response from Gerry Proehl, Dermata’s chairman, president, and CEO, underlined the company’s confidence in the implications of the newly secured patent, “We believe this patent issuance further validates DMT410’s novel concept to easily deliver botulinum toxin topically instead of requiring patients to receive multiple injections. We are excited about the opportunities the DMT410 program can bring to patients, not only for the treatment of axillary hyperhidrosis as we have seen in our proof-of-concept study, but potentially for palmar and plantar hyperhidrosis which has no currently approved products.”
Market Response
DRMA Price Action: In response to these significant developments, shares of Dermata experienced an impressive surge of 96.7%, reaching $1.20 in the after-hours session at the time of reporting, according to Benzinga Pro.
Photo: Steve Buissinne from Pixabay