RLMDNasdaqPharmaceutical PreparationsUS GAAP · USD

Relmada Therapeutics, Inc

Relmada Therapeutics, Inc. is a U.S.-based clinical-stage biotechnology company focused on developing novel drug candidates for cancer, neurological disorders, depression, and other serious diseases. The company’s pipeline has included small-molecule and reformulated therapies such as NDV-01, Sepranolone, REL-1017, and REL-P11, with development activities centered in the United States and supported by external partners and scientific advisors.

Kysy yhtiöstä
Liikevoitto (EBIT)−59,1milj. USD
+29,6 %v/v
Nettotulos−57,4milj. USD
+28,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−200−150−100−500milj. USD2020: EBIT −61 milj. USD20202021: EBIT −126 milj. USD20212022: EBIT −161 milj. USD20222023: EBIT −104 milj. USD20232024: EBIT −84 milj. USD20242025: EBIT −59 milj. USD2025−59
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Clinical-stage drug candidates85 %

Investigational therapies in development for oncology, CNS, and metabolic indications.

Licensing and in-licensing10 %

Acquisition of external development rights to expand and diversify the pipeline.

Research and development services5 %

Internal clinical, regulatory, and translational development activities supporting the pipeline.

Asiakkaat

Relmada does not sell commercial products; its primary counterparties are patients, physicians, and clinical investigators involved in clinical trials, along with regulators that must approve development programs. It also depends on licensors, collaborators, and scientific advisors to access assets, data, and development expertise. If programs succeed, future customers would be healthcare providers, hospitals, and payers in the relevant therapeutic areas.

Clinical trial participants

Patients who enroll in studies for bladder cancer, CNS disorders, or other indications to evaluate safety and efficacy.

Regulatory agencies

FDA and other authorities that review INDs, trial data, and eventual marketing applications.

Licensing counterparties

Biotech and pharma owners of assets such as NDV-01 and Sepranolone that Relmada in-licenses or acquires.

Healthcare providers and payers

Future buyers of approved therapies, especially in bladder cancer and neurological disorders.

Strategia

Relmada’s strategy is to build a diversified pipeline of mid- to late-stage assets with clearer paths to commercialization and to focus resources on programs with meaningful unmet medical need. The company is emphasizing external sourcing, intellectual property protection, and development programs that can be advanced with limited sales and marketing infrastructure.

Pipeline diversificationLyhyt aikaväli

Reduces dependence on any single clinical asset and broadens the value-creation base.

Prioritizing mid- to late-stage programsKeskipitkä aikaväli

Later-stage assets can shorten the path to proof-of-concept and commercialization.

Targeted commercializationKeskipitkä aikaväli

Programs that require limited sales and marketing infrastructure fit a small biotech model.

Intellectual property protectionPitkä aikaväli

Patent coverage supports future exclusivity and potential partnering leverage.

Maantiede

Relmada is headquartered in the United States and conducts its development and regulatory activities primarily from there. Its pipeline includes assets sourced from international counterparties, such as Sweden- and U.K.-linked transactions, but the company currently has no commercial revenue geography to report. Geography matters mainly through U.S. FDA oversight, cross-border licensing, and the location of clinical trial sites and partners.

Riskit

Relmada faces the core risks of clinical-stage biotechnology: trial failure, regulatory delay, and the possibility that development assets never reach commercialization. The company also depends on external licensing, patent protection, and continued access to capital, while its small scale makes execution risk and program concentration especially important.

Järjestetty vakavuuden mukaan
Clinical development failureKriittinen

Drug candidates may not show sufficient safety or efficacy in trials.

KohdistuuNDV-01SepranoloneAny future pipeline assets
Regulatory riskKorkea

FDA or other agencies may require additional data, delay IND clearance, or reject applications.

Kohdistuu: All development programs

Pipeline concentrationKorkea

A small number of assets can drive most of the company’s value.

Kohdistuu: NDV-01 and Sepranolone

Financing dependenceKorkea

Clinical-stage biotechs typically consume cash before generating product revenue.

Kohdistuu: Corporate operations and trial funding

Intellectual property riskKeskitaso

Patent scope, validity, or expiry can affect exclusivity and valuation.

Kohdistuu: Sepranolone and NDV-01 portfolios

Kirjanpito

Harkinnanvaraiset erät
Research and development expense recognition

Clinical trial, manufacturing, and development costs are expensed as incurred and can swing materially by program stage.

Vaikutus: Affects operating loss and quarter-to-quarter comparability

Acquired intangible assets and fair value

In-licensed or acquired programs require valuation judgments at acquisition and may later be impaired if prospects change.

Vaikutus: Can affect balance sheet carrying values and future impairment charges

Program termination and impairment

Stopping REL-1017 or REL-P11 may require write-offs of related assets or deferred costs.

Vaikutus: Can create one-time charges and reduce asset values

Clinical study cost timing

Trial enrollment, data readouts, and milestone payments can make expenses lumpy across periods.

Vaikutus: Impacts quarterly expense trends and cash burn analysis

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Päivitetty: 29.4.2026