Image Source: ZwavelStream Clinic
Company Thesis
Relmada Therapeutics (RLMD) has recently announced top-line Phase 2 data for its sole pipeline candidate REL-1017 under evaluation for major depressive disorder. At first glance, the data seems fantastic and appears to have surpassed all expectations. When analyzed in context, however, various issues with the drug's mechanism of action and clinical trial design cast a serious shadow over its ability to advance into Phase 3. Nevertheless, the market seems to favor the results on the surface in the short term and may cause uninformed investors to buy