Relmada Therapeutics Inc. (RLMD) stock is plunging in the current trading session; What’s going on?

In the current trading session, Relmada Therapeutics Inc. (RLMD) stock shares are plunging by -5.97%. The current trading price is at $23.62 in the current market at the last check. RLMDs stock closed the previous session at $25.12. The stock volume traded at 3.49 million shares. For the past 50 days, the average daily volume is 0.18 million shares which is higher than the current volume. In the past year, RLMD shares have shed by -35.61% and in the past week, they fell down by -17.50%. In the past three and six months, the stock had shed -32.71% and shed -29.36%. Furthermore, the company is currently valued in the market at $426.79 million. The outstanding shares of Relmada Therapeutics total 16.57 million.

What you need to know about the company behind RLMD stock

Relmada Therapeutics, Inc. is a clinical-stage biotechnology company that specifically focuses on producing drugs. Its platform allows for the treatment of diseases and other disorders in the market of the United States. The company specifically focuses on treating disorders for the central nervous system (CNS).

Its lead product applicant is known as d-Methadone, an oral specialist. The drug candidate is in Phase II clinical preliminary for the treatment of gloom, neuropathic torment, and other potential CNS neurotic conditions. The organization is likewise creating LevoCap ER that is safe from abuse. LevoCap is a sustained delivery for narcotic pain-relieving levorphanol.

RLMD stock also focuses on an oral dose type of the narcotic and pain-relieving buprenorphine known as BuTab. Relmada Therapeutics, Inc. was established in 2004 and is settled in New York, New York.

Announcement of results regarding the evaluation of REL-1017 vs Oxycodone

Relmada therapeutics announced on 27th July 2021, their results for the human abuse potential (HAP) study with REL-1017 which is a lead candidate for treating the major depressive disorder currently in phase 3 development and is also a unique NMDA receptor channel blocker.
Results of three different doses, 25 mg, 75mg, and 150mg, of REL-1017, have shown that all of these doses have demonstrated statistically significant differences when they were tested in recreational opioid users as compared to the active control drug, 40 mg of oxycodone. This indication was a clear demonstration of the difference between REL-1017 and Oxycodone. Using the 1=100 bipolar rating scale, with 0 as the most dislike, 50 as neutral, and 100 as highest likeability, the result of this study was a measure of likability with subjects rating the maximum effect for drug likability at the moment.
The data was inconsistent with the development program of RLMD and it also confirms the extensive body of literature that has indicated that there is a lack of abuse of REL-1017. The patients that have been suffering from depression are in dire need of safe, rapid, and effective treatment. The results from this study have supported the late and ongoing development stage of REL-1017.

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