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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