Relmada Therapeutics Announces Oversubscribed $160.0 Million Private Placement Financing
MWN-AI** Summary
Relmada Therapeutics, Inc. (Nasdaq: RLMD), a clinical-stage biotechnology company, announced an oversubscribed private placement financing (PIPE) that is projected to bring in approximately $160 million in gross proceeds. The financing agreement, disclosed on March 9, 2026, involves the sale of 29,474,569 shares of common stock at a price of $4.75 per share, in addition to pre-funded warrants for 4,210,527 shares at $4.749 each, with an exercise price of $0.001 per share. The notable participants in this financing include a mix of prominent investment firms such as Venrock Healthcare Capital Partners, Janus Henderson Investors, and RA Capital Management, among others.
The transaction is expected to close on or around March 11, 2026, pending customary closing conditions. Relmada plans to utilize the net proceeds along with existing funds for working capital and to further develop its product candidates, which focus on oncology and central nervous system indications. Its lead candidates include NDV-01 and sepranolone, both advancing in clinical development with the potential to address significant unmet medical needs.
It’s worth noting that the securities offered have not been registered under the Securities Act of 1933, meaning they cannot be publicly reoffered or resold in the U.S. unless certain registration requirements are met. Alongside this, Relmada has agreed to a registration rights agreement with investors to facilitate the eventual resale of these securities.
The announcement underscores Relmada's proactive approach to financing its innovative therapy developments, aiming to position the company strongly within the competitive biotech landscape.
MWN-AI** Analysis
Relmada Therapeutics’ recent announcement regarding an oversubscribed $160 million PIPE financing is a significant development for both the company and its investors. This financing round, backed by notable investors such as Venrock Healthcare and Janus Henderson, not only illustrates strong market confidence in Relmada's future prospects but also provides critical capital for its ongoing research and development initiatives.
Investors should interpret this capital raise favorably, as it indicates substantial institutional interest and belief in the company’s lead candidates, NDV-01 and sepranolone, both of which aim to address significant unmet health needs in oncology and central nervous system conditions. The choice to conduct a PIPE financing rather than a traditional public offering suggests a strategic decision to expedite access to funds while minimizing dilution.
With the shares priced at $4.75 and pre-funded warrants at slightly lower ($4.749), the structure of this capitalization is designed to keep the company well-capitalized during key development phases. The exercise of the pre-funded warrants at a nominal price could also lead to significant shareholder interest, pending favorable clinical trial results.
Considering the current dynamics in the biotech sector where capital markets are often volatile, this successful funding round positions Relmada favorably. Investors should keep an eye on the upcoming milestone announcements related to clinical trials. Positive progress could potentially drive the stock price higher, while any setbacks may lead to volatility.
Moreover, the registration rights agreement ensures liquidity for new investors, potentially enhancing market confidence. However, caution is warranted. The biotech landscape is inherently risky, and while the funding bolsters Relmada’s financial health, investors should remain vigilant regarding the company’s operational execution and clinical outcomes. Overall, a focused wait-and-see strategy, with attention to upcoming clinical data, could be prudent for investors looking to get involved with Relmada Therapeutics.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
CORAL GABLES, Fla., March 09, 2026 (GLOBE NEWSWIRE) -- Relmada Therapeutics, Inc. (Nasdaq: RLMD, “Relmada” or the “Company”), a clinical-stage biotechnology company advancing innovative therapies for oncology and central nervous system indications, today announced that it has entered into a securities purchase agreement for a private investment in public equity (“PIPE”) financing that is expected to result in gross proceeds of approximately $160.0 million to the Company, before placement agent fees and offering expenses. The PIPE financing included participation from Venrock Healthcare Capital Partners, Commodore Capital, Janus Henderson Investors, RA Capital Management, Balyasny Asset Management, OrbiMed, Spruce Street Capital, Squadron Capital Management, Columbia Threadneedle Investments, Adage Capital Management, Marshall Wace, Braidwell LP, Great Point Partners, LLC and Eventide Asset Management.
Pursuant to the terms of the securities purchase agreement, Relmada is selling an aggregate of (i) 29,474,569 shares of its common stock (“Common Stock”) at a purchase price of $4.75 per share and (ii) pre-funded warrants to purchase 4,210,527 shares of Common Stock at a purchase price of $4.749 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.001 per share. The PIPE financing is expected to close on or about March 11, 2026, subject to satisfaction of customary closing conditions.
Relmada intends to use the net proceeds from the PIPE financing, together with existing cash, cash equivalents, and short-term investments, for working capital and general corporate purposes, which includes the advancement of research and development of its product candidates.
Jefferies, Leerink Partners, Piper Sandler and Mizuho are acting as placement agents for the PIPE financing.
The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and the securities have not been registered under the Securities Act of 1933, as amended, and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Concurrently with the execution of the securities purchase agreement, Relmada and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of Common Stock and the Common Stock issuable upon exercise of the pre-funded warrants, in each case sold in the PIPE financing.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Relmada Therapeutics, Inc.
Relmada is a clinical-stage biotechnology company focused on developing transformative therapies for oncology and central nervous system conditions. Its lead candidates, NDV-01 and sepranolone, are advancing through mid-stage clinical development with the potential to address significant unmet needs.
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by us or on our behalf. This press release contains statements which constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including but not limited to statements regarding Relmada’s ability to complete the PIPE financing, the anticipated proceeds to be received in the PIPE financing, the expected timing of the closing of the PIPE financing and the expected use of the proceeds from the PIPE financing. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described under the heading "Risk Factors" set forth in the Company's reports filed with the SEC from time to time. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Relmada undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results and that the risks described herein should not be considered a complete list.
Investor Contact:
Brian Ritchie
LifeSci Advisors
britchie@lifesciadvisors.com
Media Inquiries:
Corporate Communications
media@relmada.com
Source: Relmada Therapeutics
FAQ**
What implications does the PIPE financing for $160 million have on Relmada Therapeutics Inc. (RLMD) future research and development initiatives, especially for its lead candidates NDV-01 and sepranolone?
How do investors perceive the terms of the securities purchase agreement in the PIPE financing for Relmada Therapeutics Inc. (RLMD), particularly given the pricing structure of shares and pre-funded warrants?
What are the anticipated risks and uncertainties associated with the successful completion of the PIPE financing for Relmada Therapeutics Inc. (RLMD), as mentioned in their forward-looking statements?
How will the proceeds from the PIPE financing impact Relmada Therapeutics Inc. (RLMD) overall financial health and market position within the biotechnology sector focused on oncology and CNS conditions?
**MWN-AI FAQ is based on asking OpenAI questions about Relmada Therapeutics Inc. (NASDAQ: RLMD).
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