(RTTNews) - Shares of Relmada Therapeutics, Inc. (RLMD) are down over 70%, following disappointing outcome of interim analysis of its Phase 3 Reliance II trial.
Reliance II is a phase III trial designed to evaluate REL-1017 as an adjunctive treatment for major depressive disorder (MDD), to be used in combination with other approved anti-depressants.
An Independent Data Monitoring Committee (DMC), which conducted the interim analysis, has found that trial is unlikely to meet the primary efficacy endpoint with statistical significance.
Relmada will evaluate the full dataset to determine the next steps for the REL-1017 program.
RLMD closed Tuesday's trading at $2.77, down 15.81 %. In premarket trading today, the stock is down by 74.72 % at $0.70
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