The following is a summary of the Relmada Therapeutics, Inc. (RLMD) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Relmada reported a decrease in R&D expenses for Q2 2024 to $10.7 million from $13.7 million in Q2 2023, attributing the decline to the completion of studies.

• General and administrative expenses also decreased to $8.1 million in Q2 2024 from $12.3 million in the same period last year, mainly due to reduced stock-based compensation.

• The net loss for the quarter was $17.8 million, compared to $25.3 million in Q2 2023.

• Cash, cash equivalents, and short-term investments as of June 30, 2024, stood at approximately $70.4 million compared to $96.3 million as of December 31, 2023.

Business Progress:

• Relmada is moving forward with its Phase 3 studies for REL-1017, targeting major depressive disorders, and plans to complete enrollment soon.

• Announced plans to initiate a Phase 1 study for REL-P11, a psilocybin program intended for metabolic diseases, with Phase 2a to start in H1 2025.

Opportunities:

• Planned completion of Phase 3 studies for REL-1017 could potentially lead to NDA submission, opening avenue to new markets if approved.

• Launching a Phase 1 study for REL-P11 highlights expansion into treatment for metabolic disorders.

Risks:

• The company acknowledged an approximately 80% screen failure rate in current studies versus 50% in prior studies, indicating potentially stringent or misaligned enrollment criteria that could delay timelines or affect study outcomes.

More details: Relmada Therapeutics IR

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