Relmada Therapeutics, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 04:02 pm EDT
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Relmada Therapeutics, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 25.3 million compared to USD 39.93 million a year ago. Basic loss per share from continuing operations was USD 0.84 compared to USD 1.33 a year ago.
For the six months, net loss was USD 51.62 million compared to USD 79.68 million a year ago. Basic loss per share from continuing operations was USD 1.72 compared to USD 2.73 a year ago.
Relmada Therapeutics, Inc. is a clinical-stage biotechnology company addressing diseases of the central nervous system (CNS), with a focus on major depressive disorder (MDD). The Company is focused on the development of esmethadone (d-methadone, dextromethadone, REL-1017), an N-methyl-D-aspartate (NMDA) receptor antagonist. Esmethadone, an isomer of methadone, is a new chemical entity (NCE) that potentially addresses areas of high unmet medical need in the treatment of central nervous system (CNS) diseases and other disorders. The Companyâs lead program, REL-1017, is a NCE and novel NMDA receptor (NMDAR) channel blocker that preferentially targets hyperactive channels while maintaining physiological glutamatergic neurotransmission. REL-1017 is in late-stage development as an adjunctive treatment for MDD in adults. Its esmethadone, is being developed as a rapidly acting, oral agent for the treatment of depression and other potential indications.