Dermata Therapeutics raised $4.1 million in a private placement, with potential for $8.3 million more, to fund acne product launch and innovation.

Dermata Therapeutics closed a private placement raising $4.1 million in gross proceeds, with potential for up to $8.3 million more if warrants are exercised. The company sold 2,022,062 shares or pre-funded warrants at $2.04 each, along with series C and D warrants exercisable after stockholder approval and expiring in five years and 24 months, respectively. Insiders, including the CEO and CFO, participated. Proceeds will fund consumer research, an OTC acne kit launch, technology acquisitions, and innovation investments. Existing warrants were amended to lower their exercise price to $2.04 per share. The offering was exempt from registration and subject to a resale registration statement.