Relmada Therapeutics reports Q4 EPS ($1.28), consensus ($1.33)

As of December 31, 2022, the company had cash, cash equivalents, and short-term investments of approximately $148.3M, vs. $211.9M at December 31, 2021"Following the availability of top-line results in the Reliance I – Study 301 -, one of two Phase 3 sister two-arm, placebo-controlled, pivotal studies evaluating REL-1017 25mg as a potential adjunctive treatment for major depressive disorder – MDD -, in December 2022, we have spent the last three months thoroughly analyzing these data and considering the appropriate next steps," said Sergio Traversa, CEO. "We are confident that we have identified the key issues that led to the Phase 3 data in Study 301 differing from the positive results we saw in Phase 2. Based on the data generated to date and market potential, we intend to focus on the further development of REL-1017 as an adjunctive treatment. We will implement critical changes to Reliance II – Study 302 -, the second of our two Phase 3 sister two-arm trials, which is ongoing, and initiate one new trial, Study 304. The Study 302 protocol amendment has been finalized and is ready to be implemented, and the Study 304 protocol has been drafted, and the study will be ready to initiate by mid-2023. We are confident that we have an approvable drug and need to focus on clinical trial execution to accomplish this…Importantly, all other pre- and clinical, and Chemistry, Manufacturing, and Controlspieces are in place for a successful NDA filing for REL-1017. Relmada is sufficiently funded to fully execute the plans for the further development of REL-1017 with Study 302 and Study 304."