earnings
confidence high
sentiment positive
materiality 0.85
Relmada FY2025 net loss $57.4M; NDV-01 76% CR at 12 months; $160M PIPE closed
RELMADA THERAPEUTICS, INC.
- FY2025 net loss $57.4M ($1.45/share) vs $80.0M in FY2024; Q4 net loss $19.9M ($0.27/share).
- NDV-01 Phase 2: 95% CR at any time, 76% durable CR at 12 months in high-risk NMIBC; BCG-unresponsive 80% CR at 12 months.
- Oversubscribed $160M PIPE closed March 2026; cash $93M at Dec 31, 2025 plus PIPE expected to fund operations through 2029.
- R&D expense $26.9M (down from $46.2M); G&A $32.2M (down from $37.7M); shares outstanding 104.9M.
- On track to start Phase 3 RESCUE program and Sepranolone Phase 2 in Prader-Willi mid-2026.