NEW YORK, May 28, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Relmada Therapeutics, Inc. (“Relmada” or the “Company”) RLMD. Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation addresses whether Relmada and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On October 13, 2022, Relmada announced the results of its RELIANCE III study (REL-1017-303) evaluating the drug REL-1017 as a monotherapy for major depressive disorder. Relmada announced that the RELIANCE III study did not meet its primary endpoint of a statistically significant improvement in depression symptoms compared to placebo at Day 28 as measured by the Montgomery-Asberg Depression Rating Scale (“MADRS”). Specifically, REL-1017 treatment demonstrated a MADRS reduction of 14.8 points at Day 28 compared to 13.9 points for placebo, a greater than expected placebo response. Relmada described: “[p]Aradoxic results were observed at certain study sites, where placebo significantly outperformed REL-1017.

As a result of this news, Relmada’s stock price fell $25.22 per share, or 79.57%, to close at $6.48 per share on October 13, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Pomerantz was founded by the late Abraham L. Pomerantz, Dean of the Class Bar Association, and pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The company has recovered numerous multi-million dollar claims for damages on behalf of the class…