NEW YORK, Dec. 3, 2019 – — Relmada Therapeutics, Inc. (Nasdaq: RLMD), a clinical-stage company developing novel therapies for the treatment of central nervous system (CNS) diseases, today announced the pricing of an offering of 3,333,334 shares of its common stock at a public offering price of $30.00 per share in an underwritten offering. The gross proceeds to Relmada from the offering, before deducting underwriting discounts and commissions and other estimated expenses payable by Relmada, are expected to be $100,000,020. In addition, Relmada has granted the underwriters a 30-day option to purchase up to an additional 500,000 shares of Relmada’s common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on December 6, 2019, subject to customary closing conditions.
Jefferies, SVB Leerink and Guggenheim Securities are acting as joint book-running managers for the offering.
Relmada intends to use the net proceeds from the offering to fund research and development activities for its clinical development programs related to Relmada’s lead product candidate, REL-1017 (d-methadone), which is being developed as a rapidly acting, oral agent for the treatment of depression and other potential indications, as well as for working capital and general corporate purposes.
The securities described above are being offered by Relmada pursuant to a shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission (SEC) on October 31, 2019. The offering may be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus, when available, may also be obtained by request by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by e-mail at Prospectus_Department@Jefferies.com; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at 1-800-808-7525, ext. 6132, or by email at firstname.lastname@example.org; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, or by telephone at 212-518-9658, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.
This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any securities of Relmada, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Relmada Therapeutics, Inc.
Relmada Therapeutics is a clinical-stage, publicly traded biotechnology company developing novel medicines that potentially address areas of high unmet medical need in the treatment of central nervous system (CNS) diseases. Relmada’s lead program, dextromethadone (REL-1017), is an N-methyl-D-aspartate (NMDA) receptor antagonist. NMDA receptor antagonists may have potential in the treatment of a range of psychiatric and neurological disorders associated with a variety of cognitive, neurological and behavioral symptoms.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by us or on our behalf. This press release contains statements which constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including but not limited to statements regarding the completion of the offering and the expected use of the proceeds therefrom. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as “expects,” “anticipates,” “believes,” “will,” “will likely result,” “will continue,” “plans to” and similar expressions. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including market conditions and the risk factors described under the heading “Risk Factors” set forth in the Company’s reports filed with the SEC from time to time. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Relmada undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Readers are cautioned that it is not possible to predict or identify all of the risks, uncertainties and other factors that may affect future results and that the risks described herein should not be considered to be a complete list.
SOURCE Relmada Therapeutics, Inc.