Maxim analyst Anthony Vendetti lowered the firm’s price target on Dermata Therapeutics to $4 from $16 but keeps a Buy rating on the shares. The analyst is updating the model to reflect the company’s equity raise and offering of dilutive warrants, though the firm also remains positive on the stock based on the company’s innovative technology for the treatment of acne. Dermata continues to make progress in developing its DTM310 acne treatment through the regulatory pathway, Maxim states, adding that it expects the company to request a Phase 2 meeting with the FDA in Q2 of this year.
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