Dermata Therapeutics (NASDAQ:DRMA) stock is on the rise Thursday following an update concerning its moderate-to-severe acne treatment.
The big news here is the FDA signed off on the company’s ability to hold a Phase 3 clinical trial of DMT310. That comes after the company submitted details of its chemistry, manufacturing, and controls procedures, which meet Food and Drug Administration (FDA) standards.
To go along with this, Dermata Therapeutics also sent in its end-of-Phase 2 meeting package to the FDA. This covers the clinical requirements needed for its Phase 3 clinical trial. It expects feedback from the regulators by the end of June 2023.
What This Means for DRMA Stock
These approvals from the FDA put the company one step closer to commercialization. If all goes well, it hopes to start a Phase 3 clinical trial in the second half of 2023. The company is hopeful for positive results that will allow it to sell the acne drug.
The idea of this has investors excited this morning with heavy strong taking place. As of this writing, more than 1.4 million shares of DRMA stock have changed hands. That’s closing in on its daily average trading volume of about 2.2 million shares.
DRMA stock is up 21.9% during pre-market trading on Thursday.
Investors seeking out even more of the most recent stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market news traders need to know about on Thursday! Among that is what has shares of United Insurance (NASDAQ:UIHC) stock up, the biggest pre-market stock movers this morning, and more. You can check out all of that news at the following links!
More Thursday Stock Market News
- Why Is United Insurance (UIHC) Stock Up 35% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- TSLA Stock: Tesla Reports Earnings Down 20% From 2022
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 risk.
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.
