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Relmada Therapeutics tumbles 37% post market on late-stage depression drug data

  • For the second time, a phase 3 trial of Relmada Therapeutics' (NASDAQ:RLMD) depression candidate REL-1017 has failed.
  • Shares are down 37% in after-hours trading.
  • Top-line results from the RELIANCE I study showed the candidate missed its primary endpoint, statistically significant improvement in depression symptoms compared to placebo acoording to the Montgomery-Asberg Depression Rating Scale (MADRS).
  • REL-1017 is under investigation as an adjunct to standard antidepressants.
  • As in the RELIANCE III trial that reported in October, there were two study sites where the placebo significantly outperformed the treatment arm.