Relmada Therapeutics Explores Strategic Alternatives Following Discontinuation of Two Phase 3 Trials

Discontinuation of Phase 3 Trials:
Relmada Therapeutics has discontinued its Reliance II and Relight Phase 3 studies for REL-1017, a novel NMDA receptor channel blocker, due to the trial's unlikely success in meeting primary efficacy endpoints with statistical significance34.

Exploration of Strategic Alternatives:
The company is exploring strategic options to enhance shareholder value, including potential asset sales, mergers, or acquisitions. A financial advisor has been engaged to assist in this review process3.

Continuation of REL-P11 Phase 1 Study:
Relmada will continue to advance the Phase 1 study of REL-P11, an investigational agent for treating metabolic disease3.

Background on REL-1017:
REL-1017 is a new chemical entity and novel NMDA receptor channel blocker that targets hyperactive channels while maintaining physiological glutamatergic neurotransmission. It was being developed for the treatment of major depressive disorder (MDD)34.

Impact on Share Price:
The discontinuation of the Phase 3 trials led to a significant drop in Relmada's share price, with a decline of over 70% following the announcement4.

Sources:

3. https://www.quiverquant.com/news/Relmada+Therapeutics+Announces+Discontinuation+of+Reliance+II+and+Relight+Phase+3+Studies,+Explores+Strategic+Alternatives

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