Dermata therapeutics announces $3.5 million private placement priced at-the-market under nasdaq rules

San diego, ca / accesswire / september 16, 2024 / dermata therapeutics, inc. (nasdaq:drma)(nasdaq:drmaw) ("dermata," or the "company"), a late-stage biotechnology company focused on the treatment of medical and aesthetic skin diseases and conditions, today announced that it has entered into definitive agreements for the issuance and sale of an aggregate of 1,912,569 shares of common stock (or pre-funded warrant in lieu thereof) and accompanying series a warrants to purchase up to 1,912,569 shares of common stock and short-term series b warrants to purchase up to 1,912,569 shares of common stock at a purchase price of $1.83 per share of common stock (or per pre-funded warrant in lieu thereof) and accompanying series warrants in a private placement priced at-the-market under the rules of the nasdaq stock market. the series a warrants and series b warrants will have an exercise price of $1.58 per share and will be exercisable immediately upon issuance.
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