RLMD Stock — Relmada Therapeutics Inc.: Cash, EV, Pipeline

Share price

$4.12

Market cap

$439.5M

Cash

$217.7M

Enterprise value

$221.8M

Balance sheet

Cash	$217.7M
Debt	$0.0M
Net cash	$217.7M
Enterprise value	$221.8M
Basic shares	106.7M shares
Fully diluted shares	127.9M shares
Fully diluted market cap	$527.1M
Cash per share	$2.04

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jan 12 - Feb 23	NDV-01 (sustained-release gemcitabine-docetaxel)	Phase 3	Bladder (Urothelial, Transitional Cell) Cancer; Bladder (Urothelial, Transitional Cell) Cancer Superficial (Non-Invasi; Urothelial Carcinoma Bladder	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

NDV-01

Phase 2 · Active Modality: sustained-release intravesical formulation

Partnerships Trigone (exclusive license; worldwide rights excluding Israel, India and South Africa)

Indications

High-risk, 2nd-line BCG-unresponsive NMIBC (Phase 2)
Intermediate-risk NMIBC (adjuvant setting) (Phase 2)

Catalysts

— None

Status note Lead candidate. Phase 2 trial in Israel in patients with aggressive NMIBC; pursuing two indications with planned Phase 3 programs following FDA Type B pre-IND alignment.

sepranolone

Phase 2 · Active Modality: neurosteroid

Partnerships Asarina Pharma AB (acquired February 2025 for EUR 3.0 million)

Indications

Prader-Willi syndrome (Phase 2)
Tourette syndrome (Phase 2)
Essential tremor (Phase 2)

Catalysts

— None

Status note Phase 2b-ready; acquired from Asarina.

esmethadone

Phase 3 · Terminated

Aliases d-methadone, dextromethadone, REL-1017

Indications

Psychiatric indications (Phase 3)

Status note Program terminated effective July 7, 2025 following an interim analysis of the Phase 3 study; license with Dr. Charles E. Inturrisi and Dr. Paolo Manfredi terminated with obligations ceasing October 5, 2025.

psilocybin program

Stage not disclosed · Terminated Modality: modified-release formulation

Aliases REL-P11

Indications

Metabolic disease (Stage not disclosed)

Status note Modified-release formulation of psilocybin for metabolic indications; program terminated effective May 12, 2025 and license with Arbormentis LLC terminated with obligations ceasing August 10, 2025.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	NDV-01 (sustained-release gemcitabine-docetaxel)
Lead indication	Bladder (Urothelial, Transitional Cell) Cancer
Lead phase	Phase 3
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07464145	Phase 3	Not yet recruiting	Sponsor	RLMD	—	Bladder (Urothelial, Transitional Cell) Cancer; Bladder (Urothelial, Transitional Cell) Cancer Superficial (Non-Invasi; Urothelial Carcinoma Bladder	—
NCT06663137	Phase 2	Recruiting	Sponsor	RLMD	—	Non Muscle Invasive Bladder Cancer	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for Relmada Therapeutics, Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
OrbiMed Advisors	3,631,195	-1,084,669	0.48%	2026-08-14
Ikarian Capital	2,148,359	-540,000	2.43%	2026-08-14
ADAR1 Capital Management	451,918	no change	0.15%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

RLMD — Relmada Therapeutics Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders