Dermata Therapeutics, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)

9 Months Ended

Sep. 30, 2023

Equity Incentive Plan

Weighted-average assumptions used for the stock option grants

		Three Months Ended September 30,								Nine Months Ended September 30,
		2023				2022				2023				2022
Grant date fair value		$	4.23			$	7.20			$	4.23			$	23.36
Risk-free rate			3.9	%			2.9	%			3.9	%			1.5	%
Dividend yield			0.00	%			0.00	%			0.00	%			0.0	%
Expected life in years			6.1				6.1				6.1				5.4
Expected volatility			112	%			132	%			112	%			123	%

Schedule of stock-based compensation expense

		Three Months Ended September 30,								Nine Months Ended September 30,
		2023				2022				2023				2022
Research and development		$	48,425			$	54,907			$	145,275			$	163,417
General and administrative			82,752				180,076				248,339				546,018
		$	131,177			$	234,983			$	393,614			$	709,435

Schedule of stock option activity

		Number of Options Outstanding				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (in Years)
Balance at December 31, 2022			65,983			$	60.32				8.2
Options granted			36,091				4.96				9.3
Options exercised			-				-				-
Options cancelled			-				-				-
Balance at September 30, 2023			102,074			$	40.77				8.1

Options exercisable at September 30, 2023			51,252			$	63.55				7.6