Relmada rises after Guggenheim raises PT

Relmada Therapeutics

06/09/2022 16:41

** Drug developer Relmada Therapeutics Inc  RLMD.O  shares
rise 2.5% to $30.47 after Guggenheim raises PT for drug
developer to $60 from $50 with "buy" rating 
    ** Brokerage anticipates positive data from co's late-stage
trial for lead therapy REL-1017 for treatment of depression,
which is likely in early October
    ** FDA approval of Johnson & Johnson's  JNJ.N  depression
drug, Spravato, has significant improved treatments of severe
depression, but unmet needs remain high - brokerage
    ** If FDA approves drug, REL-1017 could generate $1.2 bln in
peak sales - Guggenheim
    ** Major depressive disorder (MDD) is a mental health
disorder having episodes of psychological depression, affecting
17 million people in U.S. 
    ** Up to Monday's close stock was up ~34.5% YTD

 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))