Relmada Therapeutics Q3 net loss widens on higher R&D costs

Overview

• US biotech reported Q3 net loss widened to $13.9 mln, loss per share $0.12

• Research and development expenses rose on higher study and manufacturing costs

• Company ended Q3 with $202.1 mln in cash, seen funding operations through 2029

Outlook

• Relmada expects to submit NDV-01 IND by year-end 2026

• Company plans to initiate Phase 3 SPECTRUM program for NDV-01 upon IND clearance

• Relmada expects current cash to fund operations through 2029

Result Drivers

• R&D SPENDING - Higher research and development costs driven by NDV-01 and sepranolone study preparations, increased manufacturing and drug storage costs, and higher employee compensation

• CLINICAL PROGRESS - Continued advancement of NDV-01 program, including 18-month Phase 2 data showing durable response and favorable tolerability, and preparations for Phase 3 SPECTRUM program

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Relmada Therapeutics Inc is $11.00, about 148.3% above its November 11 closing price of $4.43

Reuters Recommended Reads

• Nov 10 - Cellectar Biosciences Q3 net loss widens on higher R&D costs

• Nov 12 - Altimmune posts higher than expected Q3 loss

• Nov 12 - Sagimet Biosciences Q3 net loss widens on higher R&D costs

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)