An investigation for investors in Relmada Therapeutics, Inc. (NASDAQ:RLMD) shares over potential securities laws violations by Relmada Therapeutics, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 05/11/2023 -- An investigation was announced for investors of Relmada Therapeutics, Inc. (NASDAQ: RLMD) shares over potential securities laws violations by Relmada Therapeutics, Inc.
Investors who purchased shares of Relmada Therapeutics, Inc. (NASDAQ: RLMD), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Relmada Therapeutics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
New York based Relmada Therapeutics, Inc., a clinical-stage biotechnology company, focuses on developing drugs to treat central nervous system (CNS) diseases and other disorders in the United States. On October 13, 2022, Relmada Therapeutics, Inc announced the results of its RELIANCE III study (REL-1017-303), evaluating the drug REL-1017 as a monotherapy for Major Depressive Disorder (MDD). Relmada revealed that the RELIANCE III trial did not achieve its primary endpoint, which was a statistically significant improvement in depression symptoms compared to placebo on Day 28, as measured by the Mongomery-Asberg Depression Rating Scale (MADRS). Specifically, the REL-1017 treatment showed a MADRS reduction of 14.8 points at Day 28 versus 13.9 points for placebo, a higher-than-expected placebo response. Relmada described that "[p]aradoxical results were observed in certain study sites, where placebo dramatically outperformed REL-1017."
Those who purchased shares of Relmada Therapeutics, Inc. (NASDAQ: RLMD) have certain options and should contact the Shareholders Foundation.
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