Q1 2024 Relmada Therapeutics Inc Earnings Call Transcript
Key Points
- Relmada Therapeutics Inc (RLMD) reported progress in their ongoing Phase three program for REL-1017 in major depressive disorder, with positive modifications to control placebo response and improve patient profiles.
- The company has implemented a comprehensive adjudication process to ensure high-quality patient enrollment, which is expected to enhance the probability of success in ongoing studies.
- Relmada Therapeutics Inc (RLMD) has completed all necessary preclinical manufacturing and Phase one studies required for a potential REL-1017 NDA filing, focusing now on executing the remaining Phase three studies.
- The initiation of a Phase one clinical trial for a modified release formulation of psilocybin is anticipated in the first half of the year, with potential beneficial effects on metabolic parameters in obesity and liver disease.
- Relmada Therapeutics Inc (RLMD) maintains a strong financial position with sufficient cash on hand to support operations comfortably into 2025.
- The company reported a net loss of $21.8 million for the first quarter of 2024, although this was an improvement from the previous year's loss of $26.3 million.
- There was a decrease in cash equivalents and short-term investments from $96.3 million as of December 31, 2023, to $83.6 million as of March 31, 2024.
- The screening failure rate in the RELIANCE two study has increased to approximately 80%, indicating stringent enrollment criteria that could potentially slow down the enrollment process.
- There are ongoing challenges with site and patient management in clinical trials, including the need to close or pause enrollment at sites that do not meet quality standards.
- Competition in the depression treatment landscape, particularly with the rise of studies involving psilocybin and other treatments, poses a challenge for patient recruitment and trial progress.
Good afternoon, ladies and gentlemen, and welcome to the Royal mater Therapeutics, Inc. First Quarter 2024 financial results conference call. At this time, all lines are in listen only mode following the presentation, we'll conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the offer call is being recorded on Wednesday, May eighth, 2024.
I would now like to turn the conference over to Tim McCarthy, LifeSci Advisors. Please go ahead.
Thank you, Colin, and thank you all for joining us this afternoon. With me on today's call are Chief Executive Officer, Sergio Theresa, and Chief Financial Officer magazine.
Earlier this afternoon, Renato issued a press release providing a business update and announcing financial results for the three months ended March 31st, 2024. Please note that certain information discussed on the call today is covered under the Safe Harbor provision of the Private Securities Litigation Reform Act. We
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