A Schedule 13G was filed with the SEC on November 2, 2026, by Bigger Capital Fund LP, its affiliates, and individual Michael Bigger, disclosing beneficial ownership positions in Dermata Therapeutics, Inc. (NASDAQ:DRMA) common stock as of September 30, 2026.

Key Highlights

  • Michael Bigger aggregate stake: Michael Bigger reported shared beneficial ownership of 414,064 shares of common stock, representing 8.36% of the class.
  • Bigger Capital Fund LP position: Bigger Capital Fund LP reported shared beneficial ownership of 242,832 shares, representing 4.90% of the class, including 25,000 shares issuable upon exercise of Pre-Funded Warrants.
  • District 2 Capital Fund LP position: District 2 Capital Fund LP reported shared beneficial ownership of 171,232 shares, representing 3.46% of the class.
  • Sole voting and dispositive power: All reporting persons reported 0 shares held with sole voting power and 0 shares held with sole dispositive power; all positions are reported as shared.
  • Excluded warrants: Bigger Capital's count excludes shares issuable under Series C, D, E, and F Warrants, each subject to shareholder approval and a 4.99% beneficial ownership limitation.
  • Event date: The date of the event requiring the filing is September 30, 2026, per the filing.

Ownership Structure Reported for Dermata Therapeutics Common Stock

According to the Schedule 13G filing, seven reporting persons disclosed their beneficial ownership of common stock, par value $0.0001 per share, in Dermata Therapeutics, Inc., a company headquartered at 3525 Del Mar Heights Rd., #322, San Diego, CA 92130. The filing covers the CUSIP number 249845504 and was triggered by events as of September 30, 2026. Bigger Capital Fund LP and its general partner, Bigger Capital Fund GP, LLC, each reported shared beneficial ownership of 242,832 shares, equal to 4.90% of the class, with neither entity holding sole voting or dispositive power over any shares.

Michael Bigger, a United States citizen who is connected to both the Bigger Capital and District 2 fund groups, reported aggregate shared beneficial ownership of 414,064 shares, representing 8.36% of Dermata Therapeutics' common stock. The District 2 entities, including District 2 Capital Fund LP, District 2 Capital LP, District 2 GP LLC, and District 2 Holdings LLC, each reported shared beneficial ownership of 171,232 shares, equal to 3.46% of the class. All District 2 entities are organized in Delaware and share the same Huntington, New York address, while the Bigger Capital entities are based in Las Vegas, Nevada.

The filing notes that Bigger Capital's reported position of 242,832 shares includes 25,000 shares issuable upon exercise of Pre-Funded Warrants. However, the filing states that the reported amounts exclude shares issuable upon exercise of Series C, Series D, Series E, and Series F Warrants held by Bigger Capital, with each series carrying both a shareholder approval requirement and a 4.99% beneficial ownership limitation. The District 2 entities also hold Series C, D, E, and F Warrants subject to the same conditions, according to the filing.

What Was Disclosed

The Schedule 13G disclosed that Bigger Capital Fund LP, six affiliated entities, and Michael Bigger collectively hold beneficial ownership positions in Dermata Therapeutics, Inc. common stock (NASDAQ:DRMA), with Michael Bigger's aggregate reported stake reaching 8.36% as of September 30, 2026.