An investigation for investors in Relmada Therapeutics, Inc. (NASDAQ: RLMD) shares over potential securities laws violations.
An investigation was announced for investors of Relmada Therapeutics, Inc. (NASDAQ: RLMD) shares over potential securities laws violations by Relmada Therapeutics, Inc.
Investors who purchased shares of Relmada Therapeutics, Inc. (NASDAQ: RLMD), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on whether a series of statements by Relmada Therapeutics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
New York based Relmada Therapeutics, Inc., a clinical-stage biotechnology company, focuses on developing drugs to treat central nervous system (CNS) diseases and other disorders in the United States. Relmada Therapeutics, Inc. reported that its Net Loss increased from $125.75 million 2021 to $157.04 million in 2022.
On October 13, 2022, Relmada Therapeutics, Inc announced the results of its RELIANCE III study (REL-1017-303), evaluating the drug REL-1017 as a monotherapy for Major Depressive Disorder (MDD). Relmada revealed that the RELIANCE III trial did not achieve its primary endpoint, which was a statistically significant improvement in depression symptoms compared to placebo on Day 28, as measured by the Mongomery-Asberg Depression Rating Scale (MADRS). Specifically, the REL-1017 treatment showed a MADRS reduction of 14.8 points at Day 28 versus 13.9 points for placebo, a higher-than-expected placebo response. Relmada described that “[p]aradoxical results were observed in certain study sites, where placebo dramatically outperformed REL-1017.”
Shares of Relmada Therapeutics, Inc. (NASDAQ: RLMD) declined from $37.3 per share on October 3, 2022 to as low as $5.93 per share on October 14, 2023.
On May 1, 2023, NASDAQ: RLMD shares closed at $2.72 per share.
Those who purchased shares of Relmada Therapeutics, Inc. (NASDAQ: RLMD) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
This release was published on openPR.