Relmada Therapeutics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 04:05 pm EST
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Relmada Therapeutics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 22 million compared to USD 39.42 million a year ago. Basic loss per share from continuing operations was USD 0.73 compared to USD 1.31 a year ago. Diluted loss per share from continuing operations was USD 1.31 compared to USD 1.31 a year ago.
For the nine months, net loss was USD 73.63 million compared to USD 119.1 million a year ago. Basic loss per share from continuing operations was USD 2.45 compared to USD 4.04 a year ago. Diluted loss per share from continuing operations was USD 4.04 compared to USD 4.04 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.