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Relmada Nosedives after Depression Therapy Fails in Phase 3
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Relmada Nosedives after Depression Therapy Fails in Phase 3

Shares of biotechnology company Relmada Therapeutics  (NASDAQ:RLMD) have jumped over a cliff today on topline data from its Phase 3 study of REL-1017 for the treatment of major depressive disorder.

The drug fell short of achieving a statistically significant improvement in symptoms of depression, its primary endpoint.

Moreover, in certain study sites, the placebo delivered better results than REL-1017.

Meanwhile, the company is continuing enrolments in the other two Phase 3 trials of the drug as a possible adjunctive treatment for major depressive disorder.

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