Dermata Therapeutics (NASDAQ:DRMA) stock is soaring higher on Friday after the clinical-stage medical dermatology company announced a new patent in Japan.
This new patent covers DMT410 for the treatment of hyperhidrosis. Dermata Therapeutics notes that the patent could also lead to further protections via other indications.
Dermata Therapeutics chairman, president and CEO Gerry Proehl said the following about the news:
“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 also believe this new patent could aid us in our partnership discussions with a company that has a botulinum toxin to further develop the DMT410 program for multiple indications.”
How This Affects DRMA Stock Today
With this new patent news comes heavy trading of DRMA stock on Friday. As of this writing, more than 7 million shares of the stock have changed hands. That’s a massive surge compared to its daily average trading volume of about 381,000 shares.
DRMA stock is up 62.1% as of Friday morning.
Investors looking for more of the most recent stock market stories are going to want to stick around!
We have all of the hottest stock market news that traders need to know about on Friday! Among that is what has shares of Ainos (NASDAQ:AIMD) stock up, the biggest pre-market stock movers this morning and more. All of that news is ready to go at the following links!
More Stock Market News for Friday
- Why Is Ainos (AIMD) Stock Up 157% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- Short Sellers Are Betting Big Against BYD (BYDDY) Stock
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
