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• Cash Equivalents and Short-term Investments: $44.9 million as of December 31, 2024, compared to $96.3 million as of December 31, 2023.

• Cash Used in Operations: $8.8 million for Q4 2024, compared to $10.2 million for Q4 2023.

• Research and Development Expense: $11 million for Q4 2024, compared to $14.7 million for Q4 2023.

• General and Administrative Expense: $8.1 million for Q4 2024, compared to $12.1 million for Q4 2023.

• Net Loss: $18.6 million or $0.62 per share for Q4 2024, compared to $25.1 million or $0.84 per share for Q4 2023.

• Warning! GuruFocus has detected 2 Warning Signs with RLMD.

Release Date: March 27, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Relmada Therapeutics Inc (NASDAQ:RLMD) has successfully acquired rights to two promising candidates, NDVA1 for non-muscle invasive bladder cancer and Sopranoon for compulsion-related disorders, enhancing their product pipeline.

• The company is focusing on strategic product acquisitions to maximize shareholder value, demonstrating a proactive approach to growth.

• Relmada's financial management shows a decrease in both research and development expenses and general administrative expenses compared to the previous year, indicating improved cost efficiency.

• The company maintains a strong development capability with a history of conducting multiple Phase 3 and Phase 1 trials, which is attractive to potential partners.

• Relmada has a cash position of approximately $44.9 million as of December 31, 2024, providing a financial cushion for ongoing and future projects.

Negative Points

• Relmada Therapeutics Inc (NASDAQ:RLMD) experienced a significant decrease in cash equivalents and short-term investments from $96.3 million in 2023 to $44.9 million in 2024, indicating a substantial cash burn.

• The company reported a net loss of $18.6 million for the fourth quarter of 2024, which, although reduced from the previous year, still reflects ongoing financial challenges.

• There is uncertainty regarding the future development of RP11 due to a competitive landscape and regulatory challenges, which may impact the company's strategic focus.

• The discontinuation of Phase 3 studies for 1,017 in major depressive disorder has shifted the company's focus, potentially delaying progress in this therapeutic area.

• Relmada's reliance on strategic acquisitions for growth may pose risks if future acquisitions do not meet expectations or if integration challenges arise.

Q & A Highlights

Q: Can you explain the process involved in the acquisition deals, particularly for NDVO1, and why these companies chose Relmada over other bidders? A: Sergio Traversa, CEO, explained that the acquisition of Soprano was straightforward due to a long-standing relationship with Azarina. For NDVO1, the decision was influenced by Relmada's strong development capabilities and existing infrastructure. The focus on NDVO1 as a primary project and the collaborative approach with Trigon also played a role. Additionally, Trigon shareholders are now also shareholders of Relmada, which aligns interests.