Relmada Therapeutics (NASDAQ:RLMD – Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02, FiscalAI reports.
Here are the key takeaways from Relmada Therapeutics’ conference call:
- NDV-01’s phase II results showed that 12 of 14 evaluable patients remained in complete response at 18 months, including seven of eight in the BCG-unresponsive subgroup. However, two BCG-naive patients with T1 disease progressed to muscle-invasive cancer at month 15, and the company has not yet analyzed outcomes specifically for patients matching the planned phase III population.
- Relmada remains on track to file NDV-01’s IND by year-end 2026 and expects to begin the SPECTRUM phase III program after clearance; management said the first patient could be dosed in the first quarter of 2027 if clearance comes in a reasonable timeframe. SPECTRUM includes separate registrational pathways for BCG-unresponsive high-risk disease and low-grade, intermediate-risk disease.
- The company said it has optimized new manufacturing processes and completed GMP batches, with nine-week stability results so far within FDA requirements. Further stability data are still pending, although management said it expects to complete the IND filing by year-end.
- Relmada ended the quarter with $202.1 million in cash, cash equivalents, and short-term investments, which management expects to fund operations through 2029, including completion of the NDV-01 phase III studies.
Relmada Therapeutics Stock Down 6.1%
NASDAQ:RLMD traded down $0.27 during trading hours on Thursday, reaching $4.16. 1,036,117 shares of the company’s stock were exchanged, compared to its average volume of 1,670,682. The company has a market capitalization of $443.75 million, a P/E ratio of -4.62 and a beta of 0.62. The business’s 50-day simple moving average is $3.77 and its two-hundred day simple moving average is $5.33. Relmada Therapeutics has a 12 month low of $3.07 and a 12 month high of $8.00.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.
Read Our Latest Analysis on Relmada Therapeutics
Insiders Place Their Bets
In related news, CFO Maged Shenouda purchased 120,200 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were purchased at an average price of $4.20 per share, with a total value of $504,840.00. Following the purchase, the chief financial officer owned 920,200 shares of the company’s stock, valued at $3,864,840. This trade represents a 15.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 14.50% of the company’s stock.
About Relmada Therapeutics
Relmada Therapeutics, Inc. is a clinical-stage biotechnology company developing investigational treatments for central nervous system disorders, with a focus on depression. The company’s work centers on advancing drug candidates through clinical research; it does not have an approved commercial product. Its best-known candidate, REL-1017 (esmethadone), is an oral compound that acts on NMDA receptors. Relmada has studied it as an add-on treatment for adults with major depressive disorder who have not responded adequately to existing antidepressants.
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