Relmada Therapeutics Inc. (NASDAQ:RLMD) shares are up during Monday’s premarket session following the release of promising interim data from its Phase 2 trial of NDV-01 for treating non-muscle invasive bladder cancer.
The 12-month interim data from the ongoing Phase 2 trial showed a complete response rate of 76%, with an impressive 80% in the BCG-unresponsive patient population.
On Monday, the trial showed a complete response rate of 95% at any time in high-risk bladder cancer patients, and 94% at any time in the BCG-unresponsive patient population.
These results support the advancement of NDV-01 into the Phase 3 RESCUE registrational program, which aims to provide effective treatments for patients with limited options.
Additionally, NDV-01 is designed for convenient administration, taking less than five minutes without the need for anesthesia, which could enhance its adoption among urology practices.
The favorable safety profile and high response rates observed in the trial suggest that NDV-01 may become a leading option for patients with high-risk non-muscle invasive bladder cancer.
On Monday, Relmada Therapeutics announced a private placement of approximately $160 million.
Relmada is selling around 29.5 million shares at $4.75 per share and pre-funded warrants to purchase 4.2 million shares at $4.749 per pre-funded warrant.
Relmada Therapeutics has shown remarkable performance over the past 12 months.
Currently, the stock is trading 65.9% above its 20-day simple moving average (SMA) and 87.2% above its 100-day SMA, indicating strong upward momentum.
The RSI is at 54.02, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold.
Meanwhile, MACD is at 0.1692, above its signal line at 0.1353, indicating bullish momentum.
The combination of neutral RSI and bullish MACD suggests mixed momentum, indicating that while the stock is currently stable, there is potential for upward movement.
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $26.54. Recent analyst moves include:
RLMD Price Action: Relmada Therapeutics shares were up 47.19% at $6.55 during premarket trading on Monday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
Photo by Aunt Spray via Shutterstock
| Sep-01 | |
| Aug-07 | |
| Aug-06 | |
| Jul-28 | |
| Jul-16 | |
| Jun-29 | |
| Jun-11 | |
| May-28 | |
| May-13 | |
| May-12 | |
| May-06 | |
| May-05 | |
| Mar-19 | |
| Mar-19 | |
| Mar-19 |
Join thousands of traders who make more informed decisions with our premium features. Real-time quotes, advanced visualizations, alerts, and much more.
Learn more about Finviz Elite