The following is a summary of the Relmada Therapeutics, Inc. (RLMD) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Relmada Therapeutics reported a decrease in total research and development expenses to approximately $13.3 million in Q1 2024 from $15.9 million in Q1 2023.

• General and administrative expenses also saw a decrease to $9.7 million in Q1 2024 from the previous year's $12.3 million.

• The net loss for Q1 2024 was $21.8 million, lower than the $26.3 million reported for the same period in 2023.

• As of March 31, 2024, the company had cash, cash equivalents, and short-term investments of approximately $83.6 million, compared to $96.3 million on December 31, 2023.

Business Progress:

• Progress continues with the ongoing Phase 3 program for REL-1017 in major depressive disorder (MDD), with improvements made to control the placebo response and improve patient profiles.

• The company aims to strengthen the enrollment process by ensuring all qualifying criteria are met by patients.

• A Phase 1 trial for obese patients following beneficial preclinical results on metabolic parameters in a rodent model of metabolic dysfunction is expected to begin in 2024.

• Over the next 12 to 18 months, completion of the Reliance II study is anticipated, with the initiation of a Phase I clinical trial for their psilocybin formulation.

• Improvements to clinical trial protocols, such as the requirement for detailed medical and pharmacy records, have been implemented to improve patient risk profiles.

• The company is optimistic about the potential of their novel psilocybin derivative program, with additional progress reports expected later in 2024.

More details: Relmada Therapeutics IR

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