Dermata Therapeutics, Inc. (DRMA) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 13, 2026

Risk Assessment Details

Potential Dilution: 166.93% of current shares
Recent Dilution: 834.44% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
3.9M
Potential Supply
6.4M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

DRMA currently has 3.86M outstanding shares. with significant dilution risk as 6.44M authorized shares could dilute existing holders by 166.9%. The company has significantly diluted shareholders by 834.44% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 13, 2026

10-Q filing | 3.9M shares outstanding

3.9M 6.4M
Mar 26, 2026

10-K filing | 4.0M shares outstanding

4M 6.4M
Jan 22, 2026

S-3 filing: This S-3 filing from Dermata Therapeutics, Inc. relates to the resale of up to 6,207,730 shares of common stock by selling stockholders, including shares and shares issuable upon the exercise of warrants from a private placement.

680K 6.4M
Aug 13, 2025

10-Q filing | 0.7M shares outstanding

680K 230K
Aug 01, 2025
Stock Split

8-K filing: Stock split 1-for-10 | Outstanding: 6,378,118 → 637,811

640K 23K
May 14, 2025

10-Q filing | 6.4M shares outstanding

6.4M 2.3M
Apr 15, 2025

S-3 filing: SEC filing containing information about shares of common stock outstanding and potential offerings related to warrants and shares held by various entities.

6M 2.3M
Mar 28, 2025

8-K filing: Dermata Therapeutics, Inc. closed a private placement on March 28, 2025, issuing new warrants and receiving $6.2 million in gross proceeds from the exercise of existing warrants. ($6.2M proceeds)

2.5M 2.3M
Mar 17, 2025

10-K filing | 2.5M shares outstanding

2.5M 2.3M
Jan 23, 2025

8-K filing: Dermata Therapeutics, Inc. completed a private placement on January 23, 2025, issuing 1,935,412 shares of common stock, pre-funded warrants to purchase up to 72,468 shares of common stock, and warrants to purchase up to 2,007,880 shares of common stock, with net proceeds to the company of approximately $2.4 million. ($2.47M proceeds)

1.7M 2.3M
Nov 13, 2024

10-Q filing | 1.7M shares outstanding

1.7M 2.3M
Sep 17, 2024

8-K filing: Dermata Therapeutics, Inc. closed a private placement on September 17, 2024, issuing pre-funded warrants and Series A and B warrants to purchase common stock, with net proceeds to the company of approximately $3.0 million. ($3.5M proceeds)

690K 2.3M
Aug 07, 2024

10-Q filing | 0.7M shares outstanding

690K 2.3M
Jul 03, 2024

S-3 filing: This prospectus covers the resale or other disposition by the Selling Stockholders identified in the table below of up to an aggregate 1,068,816 shares of our Common Stock issuable upon the exercise of the Warrants.

690K 2.3M
May 17, 2024

8-K filing: Dermata Therapeutics entered into inducement letter agreements with warrant holders to exercise existing warrants at a reduced price of $5.16 per share, resulting in gross proceeds of approximately $2.66 million, and the issuance of new Series A and Series B warrants. ($2.66M proceeds)

51K 1.3M
May 16, 2024
Stock Split

8-K filing: Stock split 1-for-15 | Outstanding: 770,115 → 51,341

51K 1.3M
May 15, 2024

10-Q filing | 3.9M shares outstanding

3.9M 19M
Mar 21, 2024

10-K filing | 0.8M shares outstanding

770K 19M
Dec 07, 2023

S-3 filing: This S-3 filing relates to the resale of common stock issuable upon the exercise of warrants held by selling stockholders, who acquired their securities in a private placement.

3.5M 19M
Nov 17, 2023

8-K filing: Dermata Therapeutics, Inc. entered into an inducement offer letter agreement with a warrant holder to exercise existing warrants at a reduced price, resulting in the issuance of new series A and B warrants and expected gross proceeds of approximately $2.26 million for general corporate purposes. ($2.26M proceeds)

3.2M 12M
Nov 09, 2023

10-Q filing | 3.2M shares outstanding

3.2M 12M
Aug 10, 2023

10-Q filing | 3.2M shares outstanding

3.2M 12M
Jul 07, 2023

S-1 filing: This prospectus relates to the resale or other disposition from time to time by the selling stockholders identified in this prospectus of up to 856,938 shares of Common Stock issuable upon exercise of the Warrants.

4M 12M
May 24, 2023

8-K filing: Dermata Therapeutics, Inc. entered into a securities purchase agreement to sell and issue 458,555 shares of common stock and 342,322 pre-funded warrants, along with warrants to purchase up to 800,877 shares, for gross proceeds of approximately $1.8 million. ($1.83M proceeds)

2.4M 11M
May 11, 2023

10-Q filing | 2.4M shares outstanding

2.4M 11M
Mar 20, 2023

8-K filing: Dermata Therapeutics, Inc. entered into a securities purchase agreement to sell 85,000 shares of common stock, pre-funded warrants to purchase 1,533,123 shares of common stock, Series A warrants to purchase 1,618,123 shares of common stock, and Series B warrants to purchase 1,618,123 shares of common stock in a public offering that closed on March 20, 2023, with net proceeds of approximately $4.2 million to be used for general corporate purposes.

770K 11M
Mar 16, 2023

S-1/A filing: This S-1/A filing, dated March 16, 2023, is for an offering of common stock, Series A warrants, Series B warrants, placement agent warrants and pre-funded warrants by DRMA.

770K 23M
Mar 15, 2023

S-1/A filing: This S-1/A filing relates to an offering of shares of common stock, common warrants, and pre-funded warrants with H.C. Wainwright & Co., LLC acting as the exclusive placement agent.

770K 13M
Mar 14, 2023
Stock Split

8-K filing: Stock split 1-for-16 | Outstanding: 770,115 → 48,132

48K 11M
Mar 13, 2023

S-1/A filing: This is an S-1/A filing for offering of 1,913,875 shares of common stock, together with warrants to purchase 1,913,875 shares of common stock, and pre-funded warrants to purchase up to an aggregate of 1,913,875 shares of common stock. The placement agent warrants will be exercisable upon issuance and will expire five years from the commencement of sales under this offering.

770K 180M
Mar 01, 2023

S-1 filing: This S-1 filing outlines the offering of common stock, common warrants, and pre-funded warrants, with H.C. Wainwright & Co., LLC acting as the exclusive placement agent.

12M 180M
Feb 21, 2023

10-K filing | 5.0M shares outstanding

5M 180M
Nov 15, 2022

S-3 filing: Dermata Therapeutics, Inc. files an S-3 for mixed shelf offering of common stock, preferred stock, debt securities, subscription rights, and units, with an aggregate offering price not to exceed $100,000,000.

12M 180M
Nov 10, 2022

10-Q filing | 12.1M shares outstanding

12M 20M
Aug 15, 2022

10-Q filing | 10.1M shares outstanding

10M 20M
May 16, 2022

10-Q filing | 8.4M shares outstanding

8.4M 20M
May 04, 2022

S-1 filing: This prospectus relates to the resale from time to time, by the selling stockholder identified in this prospectus under the caption "Selling Stockholder," of up to 7,547,170 shares of our common stock

9.2M 20M
Apr 25, 2022

8-K filing: Dermata Therapeutics, Inc. completed a private placement on April 25, 2022, issuing 898,585 shares of common stock, pre-funded warrants to purchase up to 2,875,000 shares, and warrants to purchase up to 3,773,585 shares, with gross proceeds of approximately $5.0 million. ($5.0M proceeds)

510K 13M
Mar 28, 2022

10-K filing | 0.5M shares outstanding

510K 13M
Feb 07, 2022

S-1/A filing: The filing relates to an S-1/A amendment for a proposed offering of Common Stock and Pre-Funded Warrants with a maximum aggregate offering price of $11,500,000.

8.3M 13M
Feb 04, 2022

S-1 filing: Dermata Therapeutics, Inc. is offering units, each consisting of one share of common stock (or pre-funded warrant in lieu thereof) and one warrant to purchase one share of common stock.

8.3M 13M
Nov 15, 2021

10-Q filing | 6.5M shares outstanding

6.5M 3.8M
Sep 27, 2021

10-Q filing | 6.5M shares outstanding

6.5M 3.8M
Aug 06, 2021

S-1/A filing: This S-1/A filing relates to an offering of 1,875,000 Units, each consisting of one share of common stock and one warrant, at a public offering price of $8.00 per unit.

1.9M 3.8M
Jul 09, 2021

S-1/A filing: This S-1/A filing describes an offering of 1,875,000 shares of common stock at an assumed price of $8.00 per share, with an option for underwriters to purchase an additional 281,250 shares. The company intends to use the net proceeds for clinical trials, drug development, manufacturing, and general corporate purposes.

1.9M 1.9M
Jul 02, 2021

S-1/A filing: This is an S-1/A filing for an initial public offering of 1,875,000 shares of common stock at an assumed price of $8.00 per share. The underwriters have a 45-day option to purchase up to an additional 281,250 shares. The company has applied to list its common stock on the Nasdaq Capital Market under the symbol 'DRMA'.

1.9M 1.9M
Jun 10, 2021

S-1 filing: This is an S-1 filing for an initial public offering of common stock underwritten by Maxim Group LLC. The company has applied to list its common stock on the Nasdaq Capital Market under the symbol DRMA.

N/A 0
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