Business
Relmada Therapeutics Provides Corporate Update and Reports First Quarter 2021 Financial Results
NEW YORK, May 12, 2021 /PRNewswire/ -- Relmada Therapeutics, Inc. (Nasdaq: RLMD), a late-stage biotechnology company addressing diseases of the central
About this update from Relmada Therapeutics, Inc.
[{"type":"text","content":"NEW YORK, May 12, 2021 /PRNewswire/ -- Relmada Therapeutics, Inc. (Nasdaq: RLMD), a late-stage biotechnology company addressing diseases of the central nervous system (CNS), today provided a corporate update and announced financial results for the first quarter ended March 31, 2021.\n\n \n \n \n \n \n \n\n \n\"We continue to advance the development of our lead product candidate, REL-1017, for the treatment of major depressive disorder (MDD),\" said Sergio Traversa, Relmada's Chief Executive Officer. \"The RELIANCE Clinical Development Program is underway. The first of two pivotal Phase 3 trials, RELIANCE I, continues to enroll as planned and we recently began enrolling participants in the second study, RELIANCE II. The long-term, open-label safety study, RELIANCE-OLS, is also actively enrolling participants from the pivotal studies as well as new participants. Importantly, we expect multiple key clinical data over the next several quarters. We also continue to build on the clinical evidence in support of REL-1017 through the presentation of data at scientific meetings, particularly through learnings regarding the mechanism of action that underlies the clinical profile of REL-1017.\"\nRecent Corporate Highlights\nContinued enrollment of participants in the first pivotal Phase 3 clinical trial, RELIANCE I, for REL-1017 as an adjunctive treatment for MDD. Initiation of RELIANCE II, the second pivotal Phase 3 clinical trial for REL-1017 as an adjunctive treatment for MDD. Presentation of nine posters highlighting preclinical and clinical data for REL-1017 at the American Society for Pharmacology and Experimental Therapeutics Annual Meeting at Experimental Biology 2021, the 2021 Society of Biological Psychiatry Annual Meeting and the American Psychiatric Association Annual Meeting 2021.Upcoming Anticipated Milestones for REL-1017\n1H21 – Start of the monotherapy MDD trial 2Q21 – Completion of the human abuse potential study with oxycodone 2H21 – Completion of the human abuse potential study with ketamine 4Q21 – Completion of the monotherapy MDD trial 1H22 – Completion of RELIANCE I and RELIANCE II adjunctive MDD trialsFirst Quarter 2021 Financial Results\nResearch and development expenses for the first quarter ended March 31, 2021 totaled $14.0 million, compared to $4.5 million in the first quarter ended March 31, 2020. The increase ...