SCHEDULE: Bigger Capital Reduces Stake in Dermata Therapeutics

Bigger Capital Fund LP and associated entities have filed an amendment to their Schedule 13G, reporting a reduction in their beneficial ownership of Dermata Therapeutics, Inc. to below 5%.

Summary

• Bigger Capital Fund LP and its affiliates reported a reduction in their beneficial ownership of Dermata Therapeutics, Inc. common stock.
• As of April 22, 2026, the reporting persons beneficially own 75,200 shares of common stock, representing approximately 1.87% of the outstanding shares.
• The reporting persons have sold a portion of their common stock, including all common stock issuable upon the exercise of previously held Pre-Funded Warrants.
• The filing confirms that the reporting persons are no longer beneficial owners of at least 5% of the issuer's common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing a routine divestment by an institutional investor rather than a fundamental change in the company's business operations.

Positives

• The reporting persons have successfully liquidated their position in Pre-Funded Warrants, indicating a strategic shift in their investment portfolio.

Negatives

• The reduction in stake by a significant shareholder may be perceived as a lack of long-term confidence in the issuer's immediate growth prospects.

Risks

• The exercise of remaining Series C and Series D Warrants, as well as DRMAW Public Warrants, is subject to shareholder approval and a 4.99% beneficial ownership limitation, which could restrict liquidity or future conversion potential.

Future Outlook

The filing does not provide forward-looking guidance for the issuer, as it is a disclosure of changes in beneficial ownership by an external investor.

Industry Context

StockSavvy.ai notes that this filing reflects standard portfolio rebalancing by an institutional investor in the biotechnology sector, where ownership thresholds often trigger regulatory disclosures.

Comparison to Industry Standards

• The filing adheres to standard SEC requirements for Schedule 13G amendments following a change in ownership status below the 5% threshold.

Stakeholder Impact

• Shareholders may note the reduction in institutional holding, which could impact short-term trading volume.

Next Steps

• The reporting persons will no longer be required to file amendments to this Schedule 13G unless their beneficial ownership again exceeds the 5% threshold.

Key Dates

Keywords

Dermata Therapeutics, Schedule 13G, Bigger Capital, Beneficial Ownership, Equity Stake, Warrants