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RLMD

Relmada Therapeutics, Inc.

RLMD

Relmada Therapeutics, Inc. • NASDAQ
$4.51 ▲ 7.64% (+0.32)
Market Cap $330.73 M
52w High $5.12
52w Low $0.24
Dividend Yield 0%
P/E -2.53
Volume 341.23K
Outstanding Shares 73.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $10.327M ▲ $-10.091M ▼ 0% $-0.3 $-10.091M ▲
Q2-2025 $0 $10.221M ▼ $-9.866M ▲ 0% $-0.3 ▲ $-10.221M ▲
Q1-2025 $0 $18.218M ▼ $-17.559M ▲ 0% $-0.58 ▲ $-18.218M ▼
Q4-2024 $0 $19.076M ▼ $-18.657M ▲ 0% $-0.62 ▲ $0 ▲
Q3-2024 $0 $23.009M $-21.726M 0% $-0.72 $-1K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $13.887M ▼ $14.876M ▼ $5.411M ▲ $9.466M ▼
Q2-2025 $20.62M ▼ $21.116M ▼ $5.167M ▼ $15.949M ▼
Q1-2025 $27.061M ▼ $27.679M ▼ $5.239M ▼ $22.44M ▼
Q4-2024 $44.909M ▼ $45.818M ▼ $10.296M ▲ $35.522M ▼
Q3-2024 $54.118M $55.725M $8.099M $47.625M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-10.091M ▼ $-6.722M ▼ $6.753M ▲ $0 ▲ $31.133K ▼ $-6.722M ▼
Q2-2025 $-9.866M ▲ $-6.402M ▲ $6.679M ▼ $-73.021K ▼ $203.645K ▲ $-6.402M ▲
Q1-2025 $-17.559M ▲ $-18.067M ▼ $15.36M ▲ $0 ▲ $-2.707M ▼ $-18.067M ▼
Q4-2024 $-18.657M ▲ $-8.8M ▲ $11.345M ▼ $-172.487K ▼ $2.373M ▲ $-8.8M ▲
Q3-2024 $-21.726M $-16.656M $16.144M $-89.601K $-602.471K $-16.656M

Five-Year Company Overview

Income Statement

Income Statement Relmada is still a pure research‑stage company with no product sales yet, so all activity runs through expenses rather than revenue. The income statement shows steady operating losses each year, reflecting ongoing R&D, clinical work, and overhead without any offsetting commercial income. Losses widened through the middle of the period and have recently narrowed somewhat, but the business remains clearly unprofitable and likely will stay that way until a drug is approved and launched, if that happens at all.

Balance Sheet

Balance Sheet The balance sheet is small and lean. Total assets and shareholder equity built up into 2021 and have since trended down, suggesting cash and other resources have been drawn down to fund operations. Cash balances are now extremely thin, and there is no meaningful debt, so the company is not weighed down by interest obligations but is also highly dependent on fresh funding. Equity remains positive, which is good, but the cushion is limited, leaving relatively little room for extended setbacks without new capital.

Cash Flow

Cash Flow Cash flow is consistently negative, driven by operating activities tied to clinical development and corporate costs. There is effectively no capital spending, so cash burn is almost entirely from running the R&D-driven business. Because there is no internal cash generation from sales, the company’s ability to continue its programs rests on raising money from external sources (equity, partnerships, or other financing) at regular intervals. The pattern points to an ongoing need for funding rather than self-sustaining operations.

Competitive Edge

Competitive Edge Relmada’s competitive position is built around its clinical pipeline rather than current market share, since it has no approved drugs. The lead assets target large, serious conditions such as major depressive disorder and bladder cancer, where treatment needs remain significant. The company emphasizes differentiated mechanisms, convenient dosing, and potentially better tolerability, supported by a growing patent estate. At the same time, these are extremely competitive spaces, with many larger and better‑funded players pursuing similar patients. Relmada’s future position will depend heavily on proving clear clinical benefits, navigating regulatory reviews successfully, and partnering or building commercial capabilities in crowded markets.

Innovation and R&D

Innovation and R&D Innovation is the core of Relmada’s strategy. Its programs aim to offer novel approaches in depression, bladder cancer, and neurobehavioral disorders, including mechanisms designed to be fast‑acting, sustained‑release, or more selective with fewer side effects. The company has been actively expanding its pipeline through licensing and acquisitions, and it has secured patent protection across major markets, which can help defend future products if they succeed. However, some flagship programs have already faced clinical setbacks, and most of the portfolio is still in mid‑ to late‑stage trials, where outcomes are uncertain. Overall, this is a high‑risk, high‑innovation, R&D‑heavy model typical of small biotechs.

Summary

Relmada is an early‑stage biotech focused on central nervous system and oncology drugs, with no commercial revenue and ongoing losses funded by a shrinking but still positive equity base. The company’s value proposition rests on a handful of promising, but unproven, drug candidates protected by patents and aimed at large unmet medical needs. Financially, it is a classic pre‑revenue, cash‑burning R&D enterprise that will likely need additional external capital to reach key clinical and regulatory milestones. Success would depend on favorable trial results, regulatory approvals, competitive differentiation, and the ability to secure partners or build a commercial platform, while failure in key trials or difficulty raising funds would pose meaningful downside risks.

NEWS

November 13, 2025 · 4:01 PM UTC

Relmada Therapeutics Reports Third Quarter 2025 Financial Results and Provides Key Clinical, Regulatory, and Corporate Updates

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November 7, 2025 · 7:30 AM UTC

Relmada Therapeutics to Report Third Quarter 2025 Financial Results on Thursday, November 13, 2025

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November 4, 2025 · 7:09 AM UTC

Relmada Therapeutics Announces Pricing of $100 Million Underwritten Offering of Common Stock and Pre-Funded Warrants

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November 4, 2025 · 7:01 AM UTC

Relmada Announces FDA Feedback Supporting 2 Separate Acceptable Registrational Study Paths for NDV-01 in Non-muscle Invasive Bladder Cancer

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October 7, 2025 · 7:30 AM UTC

Relmada Therapeutics Appoints Distinguished Urologic Oncologist, Max Kates, MD, to the Clinical Advisory Board to Support Development of NDV-01

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