RLMD - Relmada Therapeutics slides on $100M common stock offering

Relmada Therapeutics (NASDAQ:RLMD) has lost ~10.2% in the post-market after the company announced an underwritten public offering of $100M worth of its common stock. A 30-day option allowing underwriters to purchase on the same terms and conditions up to an additional 15% of the shares of the common stock is also under consideration. Jefferies, Goldman Sachs, and Guggenheim Securities act as joint book-running managers for the offering. The share offer is subject to market conditions and other conditions, the company said, adding that there is no assurance whether or when it will be completed or regarding the terms and actual size of the offering. In addition to working capital and general corporate purposes, the proceeds from the offering are earmarked for R&D activities related to REL-1017 (esmethadone) it leadcandidate targeted at conditions such as deprtession. On Wall Street, Relmada Therapeutics (RLMD) has not received Neutral or Bearish ratings from analysts.

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Relmada Therapeutics slides on $100M common stock offering