Relmada Therapeutics, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 06, 2022 at 01:36 am IST
Share
Relmada Therapeutics, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported net loss was USD 39.75 million compared to USD 22.22 million a year ago. Basic loss per share from continuing operations was USD 1.4 compared to USD 1.34 a year ago.
Relmada Therapeutics, Inc. is a clinical-stage biotechnology company addressing diseases of the central nervous system (CNS), with a focus on major depressive disorder (MDD). The Company is focused on the development of esmethadone (d-methadone, dextromethadone, REL-1017), an N-methyl-D-aspartate (NMDA) receptor antagonist. Esmethadone, an isomer of methadone, is a new chemical entity (NCE) that potentially addresses areas of high unmet medical need in the treatment of central nervous system (CNS) diseases and other disorders. The Companyâs lead program, REL-1017, is a NCE and novel NMDA receptor (NMDAR) channel blocker that preferentially targets hyperactive channels while maintaining physiological glutamatergic neurotransmission. REL-1017 is in late-stage development as an adjunctive treatment for MDD in adults. Its esmethadone, is being developed as a rapidly acting, oral agent for the treatment of depression and other potential indications.