Dermata Therapeutics Faces Delisting Concerns
Ticker: DRMAW · Form: 8-K · Filed: May 24, 2024 · CIK: 1853816
| Field | Detail |
|---|---|
| Company | Dermata Therapeutics, Inc. (DRMAW) |
| Form Type | 8-K |
| Filed Date | May 24, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, regulatory-filing
Related Tickers: DRMA
TL;DR
DRMA is on the verge of being delisted, major red flag!
AI Summary
Dermata Therapeutics, Inc. filed an 8-K on May 24, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard as of May 20, 2024. The company is incorporated in Delaware and its principal executive offices are located in San Diego, California.
Why It Matters
This filing indicates potential issues with Dermata Therapeutics' compliance with stock exchange listing requirements, which could lead to the delisting of its shares.
Risk Assessment
Risk Level: high — The company has received a notice of delisting or failure to satisfy continued listing rules, indicating significant financial or operational distress.
Key Players & Entities
- Dermata Therapeutics, Inc. (company) — Registrant
- May 20, 2024 (date) — Earliest event reported
- May 24, 2024 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
- San Diego, California (location) — Principal executive offices
FAQ
What specific listing rule or standard has Dermata Therapeutics failed to satisfy?
The filing does not specify the exact rule or standard that Dermata Therapeutics has failed to satisfy, only that a notice has been received.
What is the exact date of the notice of delisting or failure to satisfy a continued listing rule?
The earliest event reported, which includes the notice, is dated May 20, 2024.
What is Dermata Therapeutics' stock ticker symbol?
The filing mentions 'drma_8k.htm' and 'drma:CommonStocksMember', suggesting the ticker symbol is DRMA.
What is the company's primary business sector?
Dermata Therapeutics, Inc. is in the Pharmaceutical Preparations sector, SIC code 2834.
What actions can Dermata Therapeutics take to regain compliance with listing standards?
The filing does not detail the specific actions Dermata Therapeutics can take to regain compliance.
Filing Stats: 484 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-05-24 16:06:17
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share DRMA The Nasdaq Capital M
Filing Documents
- drma_8k.htm (8-K) — 26KB
- 0001654954-24-006912.txt ( ) — 165KB
- drma-20240520.xsd (EX-101.SCH) — 6KB
- drma-20240520_lab.xml (EX-101.LAB) — 16KB
- drma-20240520_cal.xml (EX-101.CAL) — 1KB
- drma-20240520_pre.xml (EX-101.PRE) — 12KB
- drma-20240520_def.xml (EX-101.DEF) — 4KB
- drma_8k_htm.xml (XML) — 6KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On May 20, 2024, Dermata Therapeutics, Inc. (the "Company") received a written letter from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market ("Nasdaq") informing the Company that it was not in compliance with Listing Rule 5550(a)(4)(the "Rule"), which requires the Company to have at least 500,000 publicly held shares to maintain a listing on Nasdaq. Based on additional information provided to the Staff by the Company, the Staff notified the Company that as of May 24, 2024, the Company has regained compliance with the Rule and the listing matter was closed. 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: May 24, 2024 DERMATA THERAPEUTICS, INC. By: /s/ Gerald T. Proehl Gerald T. Proehl President, Chairman and Chief Executive Officer 3