Relmada's depression drug unlikely to meet main trial goal, analysis shows (updated)

Relmada Therapeutics

04/12/2024 12:59

(Adds details in paragraphs 2,4, CEO quote in paragraph 3)
       Dec 4 (Reuters) - Relmada Therapeutics'  RLMD.O 
depression treatment is "unlikely" to meet the main goal of a
late-stage trial, it said on Wednesday, citing an independent
data monitoring committee's analysis.
    The treatment, REL-1017, also known as esmethadone, was
being tested as an adjunctive for major depressive disorder
(MDD) to be used in combination with other approved
anti-depressants.
    "Based on these results, Relmada will evaluate the full
dataset to determine next steps for the REL-1017 program," CEO
Sergio Traversa said in a statement. 
    Relmada had about $54.1 million in cash and its equivalents
as of Sept. 30.
    

 (Reporting by Christy Santhosh and Kamal Choudhury in
Bengaluru)
 ((Christy.Santhosh@thomsonreuters.com;))