Dermata Therapeutics, Inc.

DRMA

$1.23

-3.91%

N/A-$0.05

Healthcare

Biotechnology

NASDAQ

Active Trading

Dermata Therapeutics, Inc. engages in the development and distribution of over-the-counter pharmaceutical dermatology-focused products in the United States. The company develops direct-to-consumer ...

Supply Chain of DRMA

Upstream

Foundry, packaging, memory, wafers, components, and input vendors.

Upstream

Reka-Farm LLC

Crown Laboratories (formerly Revance Therapeutics)

Topical Formulation CDMO (Undisclosed)

Cosmetic Contract Manufacturer (Tome Skincare)

Volga River Delta Sponge Harvesters

Active Pharmaceutical Ingredient (API) Suppliers

Packaging & Component Suppliers

Reka-Farm LLC

Exclusive sole-source supplier of Spongilla lacustris raw material (freshwater sponge) from the Volga River delta, Russia. Exclusive supply agreement since February 2020. Provides the active raw material for all XYNGARI, DMT410, and Tome skincare products.

Crown Laboratories (formerly Revance Therapeutics)

Unconfirmed

Clinical trial collaboration partner supplying DAXXIFY® (DaxibotulinumtoxinA) for DMT410 combination product for hyperhidrosis. Crown acquired Revance in February 2025 (Revance now private).

Topical Formulation CDMO (Undisclosed)

Contract development and manufacturing organization responsible for formulating Spongilla raw material into the finished topical drug product (XYNGARI) for clinical trials. Identity not publicly disclosed in SEC filings.

Cosmetic Contract Manufacturer (Tome Skincare)

Contract manufacturer for Tome Skincare OTC/cosmetic product line. Partner not publicly disclosed as of Q1 2026. Handles formulation, filling, packaging for DTC skincare products.

Volga River Delta Sponge Harvesters

Sub-suppliers to Reka-Farm that harvest wild Spongilla lacustris from the Volga River delta. The region is partially protected by a Russian government entity. No specific entity names disclosed.

Downstream

Customers, distributors, OEMs, and channels that absorb output.

Downstream

Crown Laboratories (fka Revance Therapeutics)

Direct-to-Consumer (DTC) Channel - Tome Skincare

Potential XYNGARI Commercial Partner (Undisclosed)

Crown Laboratories (fka Revance Therapeutics)

Clinical Trial Collaboration Agreement (Jan 2025) to co-develop DMT410 (XYNGARI + DAXXIFY) for primary axillary hyperhidrosis. Crown supplies DAXXIFY; Dermata supplies XYNGARI. Phase 2a study in preparation.

Direct-to-Consumer (DTC) Channel - Tome Skincare

Primary go-to-market channel for Tome brand launched March 2026. Products sold directly via tomeskincare.com and potentially to aestheticians/dermatologists for in-office use. No retail or wholesale intermediaries disclosed.

Potential XYNGARI Commercial Partner (Undisclosed)

Dermata disclosed in May 2025 that it has 'commenced discussions regarding potential partnerships for the STAR-2 trial and/or commercial rights to XYNGARI.' No partner publicly named as of Q1 2026.

Proxies

Public comparables and monitoring names used as representatives for the analysis.

Proxies

Botanix Pharmaceuticals Limited

Sol-Gel Technologies Ltd.

Arcutis Biotherapeutics, Inc.

Botanix Pharmaceuticals Limited

ASX:BOT

Dermatology-focused biotech developing topical treatments derived from natural/botanical sources. Like Dermata, Botanix leverages a natural raw material platform (cannabinoid-based) for dermatological conditions with commercial-stage product Sofdra (glycopyrronium). Comparable business model transitioning from clinical to commercial.

Sol-Gel Technologies Ltd.

NASDAQ:SLGL

Clinical-stage dermatology company focused on topical drug delivery for skin diseases. Shares Dermata's focus on topical dermatology formulations and novel delivery mechanisms. Both are pre-profit specialty derm companies with clinical-stage pipelines and manufacturing partnerships.

Arcutis Biotherapeutics, Inc.

NASDAQ:ARQT

Commercial-stage dermatology company with topical foam/cream formulations for plaque psoriasis, seborrheic dermatitis, and atopic dermatitis. Comparable downstream model targeting dermatologists and DTC channels. Provides a relevant commercial-stage analogue to Dermata's strategic pivot.

Geographic

Region-level exposures that can distort the supply network.

Geographic

Russia (Volga River Delta)

United States (San Diego, CA)

Reka-Farm LLC

Dermata Therapeutics (Corporate HQ)

Russia (Volga River Delta)

Sole-source raw material supply from Reka-Farm LLC, a Russian entity. Heightened geopolitical risk due to U.S., EU, and UK sanctions following Russia's invasion of Ukraine. Potential for export controls, transportation disruption, payment restrictions, or seizure of assets.

Reka-Farm LLCExclusive sole-source supplier of Spongilla lacustris raw material. Based in Russia, sources from Volga River delta.

United States (San Diego, CA)

Corporate headquarters, R&D, clinical operations, and regulatory affairs. No manufacturing located in the U.S. currently. Dependent on imported Russian raw material.

Dermata Therapeutics (Corporate HQ)NASDAQ:DRMAAll corporate, R&D, and regulatory functions centralized in San Diego, CA.

Concentration

Customer, supplier, or partner concentration exposures that can distort the supply network.

Other

Critical

Sole-Source Raw Material Dependency: Reka-Farm LLC (Russia) is the exclusive single-source supplier of Spongilla lacustris, the active raw material for all product candidates and Tome skincare. Any supply disruption would halt all development and commercial activities. The company has evaluated but not qualified alternative suppliers.

Foundry

High

Single Platform Dependency: Entire product pipeline (XYNGARI, DMT410, Tome) depends on the Spongilla platform technology. Any failure in the raw material's efficacy, safety, or regulatory status would affect all products simultaneously.

Other

Critical

Pre-Revenue / Cash Runway Risk: Zero commercial revenue. Cash of $6.9M as of March 31, 2026 expected to fund operations only into mid-2026. No revenue-generating products yet commercialized. Supply chain relationships are financed solely through equity/debt offerings.

Other

Medium

Undisclosed Manufacturing Partners: No named CDMO or contract cosmetic manufacturers publicly identified. Lack of transparency around manufacturing capacity, quality, and redundancy creates unquantifiable supply risk.

Revenue mix

How the target's revenue mix translates into supply-chain leverage and dependency.

Product Revenue (Prescription)

0.0%

$0.0B

No commercialized prescription products; supply chain for XYNGARI remains in clinical-stage, sourced via Reka-Farm for Spongilla raw material.

Product Revenue (OTC/Skincare - Tome)

0.0%

$0.0B

Tome Skincare launched March 2026 with first product expected mid-2026; supply chain for cosmetic-grade Spongilla formulation and packaging being established with contract cosmetic manufacturers. DTC model bypasses traditional retail distribution.

Collaboration & Grant Revenue

0.0%

$0.0B

Clinical trial collaboration with Crown Laboratories (formerly Revance) for DMT410; minimal revenue impact. No material supply chain implications.

Total Revenue

100.0%

$0.0B

Pre-revenue company with ~$6.9M cash (Q1 2026). Entire supply chain currently supports clinical development and initial DTC launch, not commercial-scale production.

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