Relmada Therapeutics Reassesses Strategy Following Discontinuation of Two Phase 3 Trials for REL-1017

Discontinuation of Trials:
Relmada Therapeutics has discontinued two Phase 3 trials (RELIANCE I and III) for REL-1017, an adjunctive treatment for Major Depressive Disorder (MDD), after they failed to meet their primary endpoints13.

Ongoing Trials:
The company is continuing with the RELIANCE II and RELIGHT studies, with full enrollment in RELIANCE II expected by mid-2024 and completion of RELIGHT by the end of 20242.

Psilocybin Program:
Relmada is advancing a modified-release psilocybin program, with a Phase 1 trial planned for the first half of 2024 to evaluate its safety and tolerability in obese patients, followed by a Phase 2a trial to establish clinical proof-of-concept12.

Financial Position:
Relmada has sufficient funding to support its operations into 2025, ensuring the completion of ongoing trials and initiation of new studies2.

Strategic Focus:
The company is focusing on expanding treatment options for MDD, leveraging its REL-1017 and psilocybin programs to position itself as a significant player in the mental health treatment space2.

Sources:

1. https://materials.proxyvote.com/Approved/75955J/20240327/AR_568596.PDF

2. https://www.investing.com/news/stock-market-news/earnings-call-relmada-therapeutics-reports-progress-in-phase-3-trials-93CH-3345830

3. https://www.nasdaq.com/articles/relmada-plunges-phase-3-trial-rel-1017-mdd-unlikely-meet-goals