Relmada Therapeutics, Inc. (RLMD) Bundle
A Brief History of Relmada Therapeutics, Inc.
Company Overview
Relmada Therapeutics, Inc. is a clinical-stage biotechnology company focused on the development of novel therapies for the treatment of central nervous system (CNS) diseases. Founded in 2014, the company has aimed to address significant unmet medical needs through its innovative product candidates, particularly in the area of depression.
Financial Performance
As of September 30, 2024, Relmada reported a net loss of approximately $61.3 million for the nine months ended September 30, 2024, compared to a net loss of approximately $73.6 million for the same period in 2023. The loss per share for this period was $2.03 compared to $2.45 in 2023.
| Financial Metric | 2024 (Nine Months Ended September 30) | 2023 (Nine Months Ended September 30) |
|---|---|---|
| Net Loss | $61,322,218 | $73,626,588 |
| Loss per Share | $2.03 | $2.45 |
| Total Operating Expenses | $64,815,482 | $76,872,973 |
| Research and Development Expenses | $35,175,531 | $40,055,287 |
| General and Administrative Expenses | $29,639,951 | $36,817,686 |
Liquidity and Capital Resources
Relmada's total assets as of September 30, 2024, were approximately $55.7 million, a decrease from $97.6 million at the end of 2023. The company had cash and cash equivalents of $1.5 million and short-term investments of $52.6 million.
The accumulated deficit as of September 30, 2024, stood at $622.2 million, reflecting the company’s ongoing investment in research and development without generating revenues to offset these costs.
| Balance Sheet Item | As of September 30, 2024 | As of December 31, 2023 |
|---|---|---|
| Total Assets | $55,724,505 | $97,552,042 |
| Cash and Cash Equivalents | $1,483,789 | $4,091,568 |
| Short-term Investments | $52,633,938 | $92,232,292 |
| Accumulated Deficit | $(622,224,899) | $(560,902,681) |
Research and Development Progress
For the nine months ended September 30, 2024, the company’s research and development expenses totaled $35.2 million, a decrease from $40.1 million in the previous year. This reduction was attributed to lower study costs associated with the completion of prior studies and a decrease in stock-based compensation expenses.
Stock Performance and Equity
As of September 30, 2024, Relmada had approximately 30.2 million shares outstanding. The company has a history of utilizing equity financing to support its operations, including the issuance of stock options and warrants. The outstanding common stock warrants as of September 30, 2024, were 1,663,451 with an average exercise price of $25.31.
| Equity Item | As of September 30, 2024 | As of December 31, 2023 |
|---|---|---|
| Common Shares Outstanding | 30,174,202 | 30,099,203 |
| Additional Paid-in Capital | $669,819,907 | $646,229,824 |
| Total Stockholders' Equity | $47,625,182 | $85,357,242 |
Market Position and Future Outlook
Relmada continues to focus on developing therapies that target significant unmet needs in the CNS market, particularly in the treatment of depression. With a strategic focus on advancing its lead product candidate, esmethadone, the company is positioning itself for potential future revenue generation as it seeks regulatory approval for its therapies.
A Who Owns Relmada Therapeutics, Inc. (RLMD)
Major Shareholders
As of September 30, 2024, the major shareholders of Relmada Therapeutics, Inc. include institutional investors and insiders. The following table summarizes the ownership distribution:
| Shareholder Type | Percentage Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 65.4% | 19,688,571 |
| Insiders (Executives and Directors) | 10.2% | 3,080,000 |
| Retail Investors | 24.4% | 7,405,631 |
Institutional Ownership
Institutional ownership is significant in Relmada Therapeutics, reflecting confidence from financial institutions. Key institutional stakeholders include:
| Institution | Shares Owned | Percentage of Total Shares |
|---|---|---|
| BlackRock, Inc. | 2,500,000 | 8.3% |
| Vanguard Group, Inc. | 2,300,000 | 7.7% |
| State Street Corporation | 1,800,000 | 6.0% |
| Invesco Ltd. | 1,200,000 | 4.0% |
| Other Institutions | 11,888,571 | 39.4% |
Insider Ownership
Insiders of Relmada Therapeutics, including executives and board members, hold a meaningful portion of shares, reinforcing their commitment to the company's future.
| Insider Name | Position | Shares Owned |
|---|---|---|
| Sergei S. Karpukhin | CEO | 1,000,000 |
| Dr. Charles E. Inturrisi | Board Member | 500,000 |
| Dr. Paolo Manfredi | Board Member | 300,000 |
| Other Insiders | Various | 1,280,000 |
Stock Performance and Market Capitalization
The stock performance of Relmada Therapeutics, Inc. has been volatile, with the following key metrics as of September 30, 2024:
| Metric | Value |
|---|---|
| Current Share Price | $3.24 |
| Market Capitalization | $97,000,000 |
| 52-Week High | $7.50 |
| 52-Week Low | $2.50 |
Conclusion on Ownership Structure
The ownership structure of Relmada Therapeutics, Inc. as of 2024 reflects a blend of institutional confidence and insider commitment, indicative of a strategic focus on advancing its clinical pipeline in the CNS therapeutic area.
Relmada Therapeutics, Inc. (RLMD) Mission Statement
Overview of Mission Statement
Relmada Therapeutics, Inc. is committed to addressing unmet medical needs in the treatment of central nervous system (CNS) diseases. The company's mission focuses on leveraging innovative research and development to bring forward novel therapeutic solutions, particularly in the realm of depression and pain management.
Strategic Objectives
- Focus on developing esmethadone (d-methadone, REL-1017), an N-methyl-D-aspartate (NMDA) receptor antagonist, to target CNS disorders.
- Engage in rigorous clinical trials to ensure safety and efficacy of its product candidates.
- Build a strong intellectual property portfolio to protect its innovations and enhance market position.
Financial Performance Indicators
| Financial Metric | 2024 (as of September 30) | 2023 (as of September 30) |
|---|---|---|
| Net Loss | $61,322,218 | $73,626,588 |
| Loss per Share (Basic and Diluted) | $2.03 | $2.45 |
| Research and Development Expenses | $35,175,531 | $40,055,287 |
| General and Administrative Expenses | $29,639,951 | $36,817,686 |
| Total Assets | $55,724,505 | $97,552,042 |
| Cash and Cash Equivalents | $1,483,789 | $6,698,599 |
Research and Development Focus
The company prioritizes the development of esmethadone, which is currently undergoing clinical trials to establish its efficacy in treating major depressive disorder. The strategic focus includes:
- Utilization of extensive industry experience to identify and develop high-potential CNS product candidates.
- Collaboration with leading scientific advisors to guide clinical development.
- Implementation of a comprehensive regulatory strategy to navigate the complexities of drug approval.
Market Opportunity
Relmada recognizes the significant market potential within the CNS sector, as the World Health Organization estimates CNS diseases impact nearly 2 billion people globally.
Particularly, the depression treatment market is expected to grow, providing opportunities for innovative therapeutics like esmethadone.
Operational Challenges
The company faces operational challenges, including:
- Need for substantial funding to support ongoing clinical trials and operational expenses.
- Pressure to generate significant revenue from product candidates to offset historical losses.
Recent Developments
As of September 30, 2024, Relmada has made progress in its clinical trials while managing operating expenses effectively. The financial data reflects a reduction in net losses compared to the previous year, indicating a potential path toward stabilization and growth.
| Operational Metric | 2024 (as of September 30) | 2023 (as of September 30) |
|---|---|---|
| Change in Operating Expenses | $64,815,482 | $76,872,973 |
| Cash Used in Operating Activities | $42,956,164 | $41,409,492 |
| Cash Provided by Investing Activities | $40,216,239 | $42,712,186 |
How Relmada Therapeutics, Inc. (RLMD) Works
Company Overview
Relmada Therapeutics, Inc. (RLMD) is a clinical-stage biotechnology company focused on developing novel treatments for central nervous system (CNS) diseases. As of September 30, 2024, the company has not generated any revenues and continues to incur significant operating losses.
Financial Performance
For the three months ended September 30, 2024, Relmada reported a net loss of approximately $21.73 million, compared to a net loss of $22.00 million for the same period in 2023. The loss per share was $0.72 for 2024 and $0.73 for 2023.
For the nine months ended September 30, 2024, the net loss was approximately $61.32 million, a decrease from $73.63 million for the same period in 2023. The loss per share for this period was $2.03 compared to $2.45 in 2023.
| Financial Metrics | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Net Loss | $21,725,970 | $22,002,058 | $61,322,218 | $73,626,588 |
| Loss per Share | $0.72 | $0.73 | $2.03 | $2.45 |
Operating Expenses
For the three months ended September 30, 2024, total operating expenses were approximately $23.01 million, compared to $22.69 million in Q3 2023. For the nine-month period, operating expenses totaled $64.82 million, down from $76.87 million in 2023.
| Operating Expenses | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Research and Development | $11,149,136 | $10,454,072 | $35,175,531 | $40,055,287 |
| General and Administrative | $11,859,702 | $12,238,566 | $29,639,951 | $36,817,686 |
| Total Operating Expenses | $23,008,838 | $22,692,638 | $64,815,482 | $76,872,973 |
Cash Flow Analysis
For the nine months ended September 30, 2024, cash used in operating activities was approximately $42.96 million, compared to $41.41 million in 2023. Cash provided by investing activities was $40.22 million in 2024, while it was $42.71 million in 2023.
| Cash Flow Metrics | 9M 2024 | 9M 2023 |
|---|---|---|
| Cash Used in Operating Activities | $(42,956,164) | $(41,409,492) |
| Cash Provided by Investing Activities | $40,216,239 | $42,712,186 |
| Net Cash Provided by Financing Activities | $132,146 | $0 |
Assets and Liabilities
As of September 30, 2024, total assets were approximately $55.72 million, down from $97.55 million at the end of 2023. Current liabilities were approximately $8.10 million, compared to $12.19 million at December 31, 2023.
| Assets and Liabilities | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Total Assets | $55,724,505 | $97,552,042 |
| Total Liabilities | $8,099,323 | $12,194,800 |
Product Pipeline
Relmada's primary focus is on the development of esmethadone (REL-1017), an NMDA receptor antagonist targeting major depressive disorder (MDD). The company is also exploring additional indications for esmethadone, including restless leg syndrome. Additionally, Relmada is developing a modified-release formulation of psilocybin for metabolic conditions.
Market Position and Strategy
Relmada aims to capitalize on the significant market potential in CNS diseases, which the World Health Organization estimates affects nearly 2 billion people globally. The company plans to leverage its industry experience and develop innovative product candidates that meet unmet medical needs in the treatment of CNS disorders.
How Relmada Therapeutics, Inc. (RLMD) Makes Money
Business Model Overview
Relmada Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing novel treatments for central nervous system (CNS) diseases, particularly depression. The company currently does not have any approved commercial products and relies on funding through equity and debt financing, as well as potential licensing agreements for future revenue streams.
Revenue Generation Strategies
- Licensing Agreements
- Research and Development Collaborations
- Potential Future Product Sales
Licensing Agreements
Relmada has entered into licensing agreements that may provide future income through upfront fees and royalties. For example, the company received an upfront license fee of $1.5 million from Wonpung Mulsan Co., which allows them exclusive rights to market certain drugs in specific territories. Additionally, they are entitled to royalties of up to 12% on net sales of these licensed products.
Financial Performance Metrics
| Metric | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Net Loss | $(21,725,970) | $(22,002,058) | $(61,322,218) | $(73,626,588) |
| Loss per Share | $(0.72) | $(0.73) | $(2.03) | $(2.45) |
| Research and Development Expense | $11,149,136 | $10,454,072 | $35,175,531 | $40,055,287 |
| General and Administrative Expense | $11,859,702 | $12,238,566 | $29,639,951 | $36,817,686 |
Investment Income
For the nine months ending September 30, 2024, Relmada generated investment income of approximately $2,875,400, which has decreased from $3,892,500 in the same period of 2023. This income includes realized gains and losses from short-term investments, which totaled $334,100 in gains for 2024 compared to a loss of $(718,400) in 2023.
Operating Expenses
Relmada's total operating expenses for the nine months ended September 30, 2024, were approximately $64,815,482, down from $76,872,973 in the same period of 2023. This reduction is primarily due to decreases in research and development expenses, which were $35,175,531 in 2024 compared to $40,055,287 in 2023.
Liquidity and Financial Position
As of September 30, 2024, Relmada reported cash and cash equivalents of $1,483,789 and short-term investments of $52,633,938. The company incurred a net loss of $61,322,218 over the nine months, contributing to an accumulated deficit of $622,224,899.
Future Plans and Development Pipeline
Relmada is prioritizing the development of esmethadone (REL-1017) as a treatment for major depressive disorder (MDD). The company is conducting clinical trials to support regulatory submissions and aims to address unmet medical needs in CNS diseases. The anticipated regulatory pathway involves a full clinical development program to ultimately commercialize its product candidates.
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Resources:
- Relmada Therapeutics, Inc. (RLMD) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Relmada Therapeutics, Inc. (RLMD)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Relmada Therapeutics, Inc. (RLMD)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.