On Tuesday Relmada Therapeutics (NASDAQ:RLMD) stock traded volume of 91427 shares during its last trading session as compared to its average volume of 104261 shares over the recent month. RLMD ended its day with the positive stream along the move of 3.73% and closed at the price of $34.46 before opening at $33.2. It has total market capitalization is $354088206. 52week range of the stock remained $ 4.4 – 36 while its day lowest price was $29 and its hit its day highest price at $34.9.
On Dec. 03, 2019, Relmada Therapeutics (NASDAQ:RLMD) a clinical-stage company developing novel therapies for the treatment of central nervous system (CNS) diseases, disclosed its intention to offer and sell shares of its common stock in an underwritten public offering pursuant to its existing shelf registration statement. Relmada also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering on the same terms and conditions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the size or terms of the offering.
Jefferies, SVB Leerink and Guggenheim Securities are acting as joint book-running managers for the offering.
Relmada intends to use the net proceeds from the offering to fund research and development activities for its clinical development programs related to Relmada’s lead product candidate, REL-1017 (d-methadone), which is being developed as a rapidly acting, oral agent for the treatment of depression and other potential indications, as well as for working capital and general corporate purposes.
About Relmada Therapeutics
Relmada Therapeutics is a clinical-stage, publicly traded biotechnology company developing novel medicines that potentially address areas of high unmet medical need in the treatment of central nervous system (CNS) diseases. Relmada’s lead program, dextromethadone (REL-1017), is an N-methyl-D-aspartate (NMDA) receptor antagonist. NMDA receptor antagonists may have potential in the treatment of a range of psychiatric and neurological disorders associated with a variety of cognitive, neurological and behavioral symptoms.
Cheyenne Cox is a news report covering multiple Market and economy News. She is creative and highly professional writer. Cheyenne holds a degree in communication and journalism and has also a Diploma in digital marketing. She belongs to south Africa who has also lived in Europe and is currently based in the US.