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Relmada Q1 2025 Earnings Report
Relmada Therapeutics, Inc. reported its Q1 2025 earnings with a net loss of $17.56 million and negative operating cash flows of $18.07 million.
Key Takeaways
Relmada Therapeutics, Inc. reported a net loss of $17.56 million for the three months ended March 31, 2025, with total operating expenses of $18.22 million. The company's cash and cash equivalents decreased significantly, raising substantial doubt about its ability to continue as a going concern.
Net loss for Q1 2025 was $17.56 million, an improvement from $21.83 million in Q1 2024.
Operating expenses decreased to $18.22 million in Q1 2025 from $22.99 million in Q1 2024, primarily due to winding down REL-1017 studies.
The company reported negative cash flows from operations of $18.07 million for Q1 2025.
Relmada acquired Sepranolone and in-licensed NDV-01, diversifying its pipeline and terminating the psilocybin program.
Relmada
Relmada
Forward Guidance
Relmada Therapeutics, Inc. is focused on advancing its NDV-01 and Sepranolone programs, with several key milestones anticipated over the next 12 months. The company acknowledges insufficient liquidity to sustain operations for one year and is evaluating financing strategies.
Positive Outlook
- Anticipated NDV-01 Six-month data from ongoing Phase 2 NMBIC Study in Mid 2025.
- Expected NDV-01 Nine-month data from ongoing Phase 2 NMBIC Study in 3rd Quarter 2025.
- Projected NDV-01 Twelve-month data from ongoing Phase 2 NMBIC Study by Year end 2025.
- Anticipated NDV-01 United States Investigative New Drug clearance in 1st Half 2026.
- Planned initiation of Sepranolone clinical trial in PWS in 1st Half 2026.
Challenges Ahead
- The company is projecting insufficient liquidity to sustain its operations through one year following the financial statements issuance date.
- There is substantial doubt about the company's ability to continue as a going concern.
- No assurances that additional financing will be secured or be sufficient to meet needs on favorable terms.
- The REL-1017 program has been paused pending comprehensive data review, with uncertainty regarding its future.
- The psilocybin development program has been terminated, ceasing all related obligations.