The Patent News That Skyrocketed Dermata Therapeutics Stock – Dermata Therapeutics (NASDAQ:DRMAW) The Patent News That Skyrocketed Dermata Therapeutics Stock – Dermata Therapeutics (NASDAQ:DRMAW)

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By Ronald Tech

The Breakthrough Patent

Dermata Therapeutics, Inc. DRMAW witnessed a significant surge in after-hours trading following the revelation of a groundbreaking news. The company declared that a new patent for its DMT410 program has been granted in Japan, specifically for the treatment of hyperhidrosis.

Valuable Milestone for Dermata

What You Need to Know: The patent issuance, announced after the closing bell on Thursday, signifies a pivotal moment for Dermata as it marks the first patent issued for the DMT410 program. This program utilizes the company’s Spongilla technology to administer botulinum toxin topically for treating the condition.

A Glimpse of the Future

Moreover, discussions about potential partnerships to further advance the development of DMT410 have surfaced, projecting a promising future. Gerry Proehl, Chairman, President, and CEO of Dermata, expressed his excitement regarding the program’s potential benefits for patients. He emphasized the convenience of topically delivering botulinum toxin, eliminating the need for multiple injections.

Expanding Treatment Possibilities

Proehl also highlighted the extensive reach of DMT410, envisioning not only its efficacy in treating axillary hyperhidrosis, supported by their proof-of-concept study, but also its potential in addressing palmar and plantar hyperhidrosis, for which no approved products currently exist.

Commenting on the patent issuance, Proehl stated, “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.”

The Market Response

The announcement fuelled a remarkable surge in Dermata’s stock, propelling it up by an impressive 96.7% to $1.20 during after-hours trading at the time of the news. Such a drastic uptick, suggestive of investor optimism, underscores the perceived value of the patent news.

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Photo: Steve Buissinne from Pixabay