Relmada provides Phase 3 update for REL-1017 in MDD; cash $132.4M

RELMADA THERAPEUTICS, INC.

Cash and equivalents $132.4M as of 3/31/23; ~30.1M common shares outstanding (45.6M as-converted).
Reliance I and III did not meet primary endpoints; post-hoc analysis with removal of two sites showed -4.1 MADRS difference (p=0.02).
Key trial improvements: require medical records to verify depression, limit patients per site, simplify assessments.
Upcoming milestones: complete Reliance II (adjunctive) in 1H 2024; initiate additional Phase 3 adjunctive trial mid-2023, completion 2H 2024.
No serious treatment-related TEAEs, no abuse potential; safety profile consistent across studies.

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