Business
Relmada Therapeutics Reports Second Quarter 2024 Financial Results and Provides Business Update
Outcome of pre-planned Reliance II interim analysis anticipated by YE 2024 Enrollment in Phase 3 Reliance II study expected to be completed by YE 2024
About this update from Relmada Therapeutics, Inc.
[{"type":"text","content":"Outcome of pre-planned Reliance II interim analysis anticipated by YE 2024\nEnrollment in Phase 3 Reliance II study expected to be completed by YE 2024\nPreparations on track to initiate Phase 1 study for REL-P11 for metabolic disorders by YE 2024\nCash position of $70.4 million provides runway through key milestones, into 2025\nManagement hosting conference call and webcast today at 4:30 PM ET\nCORAL GABLES, Fla., Aug. 7, 2024 /PRNewswire/ -- Relmada Therapeutics, Inc. (Nasdaq: RLMD, \"Relmada\", \"the Company\"), a late-stage biotechnology company addressing diseases of the central nervous system (CNS), today provided a corporate update and announced preliminary and unaudited financial results for the second quarter ended June 30, 2024. The Company will host a conference call today, Wednesday, August 7, at 4:30 PM ET.\n\n \n \n \n \n \n \n\n \n\"Relmada's clinical programs have made meaningful progress this year. We believe that the portfolio, led by the Phase 3 program for REL-1017 as a potential adjunctive treatment for major depressive disorder (MDD), is poised to reach important milestones that could represent inflection points for Relmada,\" said Sergio Traversa, Chief Executive Officer of Relmada. \"We believe that our two ongoing Phase 3 trials, Reliance II and Relight, have been carefully designed to enhance the probability of success by appropriate patient adjudication in each study. We expect to complete enrollment in Reliance II by year-end 2024, to be followed by Relight 6-months after that.\"\nDr. Traversa continued, \"The Reliance II study design incorporates a pre-planned interim analysis to evaluate futility and a sample size re-estimation, if necessary, aimed at de-risking the program. We expect to conduct this analysis and report the outcome before year-end 2024. In addition, we are advancing preparations to begin the clinical program for REL-P11, our low-dose, modified-release psilocybin formulation for potential treatment of metabolic disorders, and intend to initiate a Phase 1 study in Canada before year-end 2024. Importantly, we believe that our financial resources are adequate to support our planned operations through key milestones, into 2025.\"\nUpcoming Anticipated Milestones\nOutput of Reliance II Interim Analysis Expected before YE 2024: Relmada intends to announce the output of a pre-planned interi...