Relmada reports Q2 net loss $9.9M; NDV-01 91% overall response rate in NMIBC

RELMADA THERAPEUTICS, INC.

2025-Q2 EPS reported -$0.86 vs consensus -$0.26 ▼ miss (-237.3%)

Q2 net loss $9.9M ($0.30/shr) vs $17.8M ($0.59) a year ago; R&D expense fell to $2.8M from $10.7M.
NDV-01 Phase 2: 91% complete response at any time; 90% at 6 months; no Grade 3+ TRAEs or discontinuations.
Cash $20.6M at June 30, 2025, down from $44.9M at Dec 31, 2024; shares outstanding 33.2M.
Phase 3 registration trial for NDV-01 planned for 1H 2026; Phase 2 for sepranolone in PWS in 1H 2026.
No patients progressed to muscle-invasive disease or underwent cystectomy in the study.

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