RELMADA THERAPEUTICS, INC. RLMD
corporation), is a publicly traded, clinical-stage biotechnology company. We substantially redesigned our development programs following
a comprehensive strategic review in late 2024 and early 2025. We concluded in our review that the most promising path to create shareholder
value was to lever our extensive drug development expertise and clinical operations capabilities by acquiring new development candidates,
while terminating further work on esmethadone (d-methadone, dextromethadone or REL-1017). Hence we accelerated ongoing efforts to augment
Last close
3.27
2026-10-23
Market cap
$348.8M
2026-06-30 share count
52-week range
2.15 - 8.00
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-1.45
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| R&D | $26.9M | $46.2M | $54.8M | $113.3M | $90.6M | $36.0M | $7.0M | $2.9M | $1.3M | $6.2M |
| SG&A | $32.2M | $37.7M | $48.9M | $47.9M | $35.1M | $24.9M | $5.7M | $4.0M | $5.9M | $10.0M |
| Total operating expenses | $59.1M | $83.9M | $103.7M | $161.2M | $125.7M | $60.8M | $12.7M | $6.9M | $7.2M | $16.2M |
| Operating income | -$59.1M | -$83.9M | -$103.7M | -$161.2M | -$125.7M | -$60.8M | -$12.7M | -$6.9M | -$7.2M | -$16.2M |
| Interest expense | — | — | $5.2M | $2.7M | $1.2M | $1.4M | $761.0K | $1.3M | $550 | $1.7K |
| Net income | $0 | $0 | $0 | -$157.0M | -$125.8M | -$59.5M | -$17.3M | -$9.0M | -$6.3M | -$3.0M |
| EPS, basic | -1.45 | -2.65 | -3.28 | -5.30 | -7.16 | — | — | — | — | — |
| EPS, diluted | -1.45 | -2.65 | -3.28 | -5.30 | -7.16 | -3.81 | -2.74 | -2.86 | -0.52 | -0.26 |
| Shares, diluted (wtd. avg.) | 39.5M | 30.2M | 30.1M | 29.6M | 17.6M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.5M | $3.9M | $4.1M | $5.4M | $44.4M | $2.5M | $9.2M | $2.2M | $1.7M | $8.5M |
| Short-term investments | $89.5M | $41.1M | $92.2M | $142.9M | $167.5M | $114.6M | $80.2M | — | — | — |
| Receivables | — | — | — | $512.4K | — | — | — | — | — | — |
| Total current assets | $94.0M | $45.8M | $97.5M | $152.9M | $223.3M | $118.1M | $10.0M | $2.7M | $2.5M | $9.3M |
| Property, plant and equipment | — | — | — | — | — | $1.3K | $7.2K | $12.1K | $2.3K | $531.3K |
| Total assets | $94.0M | $45.8M | $97.6M | $152.9M | $223.3M | $118.2M | $10.2M | $3.0M | $2.8M | $10.2M |
| Accounts payable | $1.6M | $4.1M | $3.5M | $5.3M | $11.2M | $8.3M | $924.4K | $765.4K | $529.6K | $1.3M |
| Total current liabilities | $6.4M | $10.3M | $12.2M | $12.5M | $15.1M | $12.6M | $2.6M | $5.9M | $1.4M | $3.1M |
| Total liabilities | $7.5M | $10.3M | $12.2M | $12.5M | $15.1M | $12.6M | $2.6M | $8.6M | $1.4M | $3.2M |
| Retained earnings | -$698.3M | -$640.9M | -$560.9M | -$462.1M | -$305.1M | -$179.3M | -$111.7M | -$94.3M | -$85.4M | -$79.1M |
| Total equity | $86.5M | $35.5M | $85.4M | $140.4M | $208.3M | $105.6M | $115.7M | -$5.5M | $1.5M | $7.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$45.8M | -$51.8M | -$51.7M | -$103.8M | -$91.9M | -$27.8M | -$10.5M | -$6.0M | -$6.5M | -$13.1M |
| Depreciation and amortisation | — | — | — | — | $1.3K | $3.8K | $4.9K | $2.6K | $85.3K | $54.8K |
| Stock-based compensation | $13.9M | $30.2M | $43.8M | $44.2M | $40.5M | $20.8M | $1.2M | $518.0K | $704.5K | $1.0M |
| Capital expenditure | — | — | — | — | — | $182.1M | $84.8M | $12.4K | $49.7K | $562.3K |
| Investing cash flow | -$48.1M | $51.6M | $50.5M | $19.7M | -$54.1M | -$34.4M | -$80.2M | -$12.4K | -$49.7K | -$562.3K |
| Financing cash flow | $93.6M | -$40.3K | -$98.5K | $45.0M | $187.9M | $28.5M | $17.5M | $6.5M | -$273.7K | -$263.8K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-045192.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$3.0M | -$6.3M | -$9.0M | -$17.3M | -$59.5M | -$125.8M | -$157.0M | $0 | $0 | $0 |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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