$RLMD
RELMADA THERAPEUTICS, INC.

2022 Q3 Form 10-Q Financial Statement

#000121390022046934 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.208M $14.60M $13.28M
YoY Change -5.22% 59.9% 58.53%
% of Gross Profit
Research & Development $30.53M $30.91M $25.01M
YoY Change -10.19% 78.36% 78.41%
% of Gross Profit
Depreciation & Amortization $0.00 $0.00 $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $38.74M $45.51M $38.30M
YoY Change -9.18% 71.99% 70.89%
Operating Profit -$38.74M -$45.51M
YoY Change -9.18% 71.99%
Interest Expense -$681.6K -$774.5K -$1.448M
YoY Change -1536.66% 759.98% -862.29%
% of Operating Profit
Other Income/Expense, Net -$681.5K $5.577M
YoY Change -1536.53% -6292.38%
Pretax Income -$39.42M -$39.93M -$39.75M
YoY Change -7.48% 50.4% 78.87%
Income Tax
% Of Pretax Income
Net Earnings -$39.42M -$39.93M -$39.75M
YoY Change -7.48% 50.4% 78.91%
Net Earnings / Revenue
Basic Earnings Per Share -$1.31 -$1.33
Diluted Earnings Per Share -$1.31 -$1.33 -$1.400M
COMMON SHARES
Basic Shares Outstanding 30.06M shares 29.94M shares
Diluted Shares Outstanding 30.06M shares 29.94M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $184.2M $212.0M $220.6M
YoY Change 109.06% 94.33% 114.85%
Cash & Equivalents $42.52M $37.26M $44.93M
Short-Term Investments $141.6M $174.7M $175.7M
Other Short-Term Assets $2.954M $256.2K $5.064M
YoY Change 8.77% -83.46% 406.4%
Inventory
Prepaid Expenses $2.954M $3.484M
Receivables
Other Receivables
Total Short-Term Assets $187.1M $215.7M $225.8M
YoY Change 105.87% 94.88% 117.51%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.10K $35.24K $28.29K
YoY Change -35.62% 40.95%
Total Long-Term Assets $16.10K $35.24K $28.29K
YoY Change -65.95% -49.0% -71.71%
TOTAL ASSETS
Total Short-Term Assets $187.1M $215.7M $225.8M
Total Long-Term Assets $16.10K $35.24K $28.29K
Total Assets $187.1M $215.8M $225.8M
YoY Change 105.78% 94.79% 117.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.43M $7.540M $10.67M
YoY Change -17.96% -27.89% 31.73%
Accrued Expenses $10.35M $11.38M $4.739M
YoY Change 86.89% 228.87% 3.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.78M $18.92M $15.41M
YoY Change 13.86% 35.96% 21.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $20.78M $18.92M $15.41M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $20.78M $18.92M $15.41M
YoY Change 13.86% 35.96% 21.33%
SHAREHOLDERS EQUITY
Retained Earnings -$424.2M -$384.7M
YoY Change
Common Stock $28.64K $30.03K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $166.3M $196.9M $210.4M
YoY Change
Total Liabilities & Shareholders Equity $187.1M $215.8M $225.8M
YoY Change 105.78% 94.79% 117.33%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$39.42M -$39.93M -$39.75M
YoY Change -7.48% 50.4% 78.91%
Depreciation, Depletion And Amortization $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Operating Activities -$26.86M -$21.63M -$19.43M
YoY Change 28.43% 25.68% 20.76%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $31.56M -$140.5K -$10.03M
YoY Change 14.71% -97.62% -164.82%
Cash From Investing Activities $31.56M -$140.5K -$10.03M
YoY Change 14.71% -97.62% -164.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 569.1K 14.09M 29.95M
YoY Change 207.37% -41.25% 1451.73%
NET CHANGE
Cash From Operating Activities -26.86M -21.63M -19.43M
Cash From Investing Activities 31.56M -140.5K -10.03M
Cash From Financing Activities 569.1K 14.09M 29.95M
Net Change In Cash 5.264M -7.674M 490.9K
YoY Change -22.37% -988.19% -62.52%
FREE CASH FLOW
Cash From Operating Activities -$26.86M -$21.63M -$19.43M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
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2022
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dei Entity Registrant Name
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Relmada Therapeutics, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
45-5401931
dei Entity Address Address Line1
EntityAddressAddressLine1
2222 Ponce de Leon
dei Entity Address Address Line2
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Floor 3
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Coral Gables
dei Entity Address State Or Province
EntityAddressStateOrProvince
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dei Entity Address Postal Zip Code
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dei City Area Code
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dei Security12b Title
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UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Use of Estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. The significant estimates are stock-based compensation expenses and recorded amounts related to income taxes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p>
CY2022Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
37260866 usd
CY2022Q2 us-gaap Shortterm Debt Fair Value
ShorttermDebtFairValue
174694211 usd
CY2022Q2 us-gaap Other Short Term Investments
OtherShortTermInvestments
174694211 usd
CY2022Q2 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-1186337 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-2949624 usd
CY2021Q2 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-289281 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-466444 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13511695 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7914039 shares
CY2022Q2 us-gaap Prepaid Insurance
PrepaidInsurance
643300 usd
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
353300 usd
CY2022Q2 rlmd Prepaid Research And Development
PrepaidResearchAndDevelopment
2624600 usd
CY2021Q4 rlmd Prepaid Research And Development
PrepaidResearchAndDevelopment
10708800 usd
CY2022Q2 rlmd Prepaid Legal
PrepaidLegal
11000 usd
CY2021Q4 rlmd Prepaid Legal
PrepaidLegal
11000 usd
CY2022Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
204800 usd
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
228400 usd
CY2022Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
3483700 usd
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
11301500 usd
CY2022Q2 rlmd Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
9799100 usd
CY2021Q4 rlmd Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
1928000 usd
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
111800 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
168000 usd
CY2022Q2 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
780400 usd
CY2021Q4 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
1191000 usd
CY2022Q2 us-gaap Accrued Vacation Current
AccruedVacationCurrent
572000 usd
CY2021Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
450400 usd
CY2022Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
118200 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
131000 usd
CY2022Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
11381500 usd
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
3868400 usd
CY2022Q2 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
124392 shares
rlmd Cashless Exercise Of Warrants Value
CashlessExerciseOfWarrantsValue
895356 usd
CY2020Q2 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
2094243 shares
CY2021Q3 us-gaap Prepaid Rent
PrepaidRent
9000 usd
CY2020Q2 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
42728599 usd
CY2014Q4 rlmd Granting To Option Or Stock Awards
GrantingToOptionOrStockAwards
5152942 shares
CY2021Q2 rlmd Granting To Option Or Stock Awards
GrantingToOptionOrStockAwards
1500000 shares
CY2022Q2 us-gaap Shares Issued
SharesIssued
3900000 shares
rlmd Stock Options Exercisable Period
StockOptionsExercisablePeriod
P10Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
us-gaap Stockholders Equity Other Shares
StockholdersEquityOtherShares
125632 shares
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
122700000 usd
rlmd Term Year
TermYear
P2Y6M3D
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
7700000 usd
rlmd Aggregate Intrinsic Value Of Warrants Vested And Outstanding
AggregateIntrinsicValueOfWarrantsVestedAndOutstanding
22900000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24225700 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14119700 usd
CY2022Q2 rlmd Payment For License
PaymentForLicense
45000 usd
CY2021Q3 rlmd License Agreement Description
LicenseAgreementDescription
the Company paid Arbormentis, LLC an upfront fee of $12.7 million, consisting of a mix of cash and warrants to purchase the Company’s common stock, in addition to potential milestone payments totaling up to approximately $160 million related to pre-specified development and commercialization milestones. Arbormentis, LLC is also eligible to receive a low single digit royalty on net sales of any commercialized therapy resulting from this agreement. The license agreement is terminable by the Company but is perpetual and not terminable by the licensor absent material breach of its terms by the Company.
CY2021Q3 us-gaap Payments For Rent
PaymentsForRent
11000 usd
CY2021Q3 rlmd Lease Period
LeasePeriod
P5M
CY2021Q3 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2021-12-31
rlmd Lease Expense
LeaseExpense
44000 usd
rlmd Lease Expense
LeaseExpense
38700 usd
us-gaap Lease Income
LeaseIncome
2500 usd
us-gaap Lease Income
LeaseIncome
6300 usd
us-gaap Description Of Defined Contribution Pension And Other Postretirement Plans
DescriptionOfDefinedContributionPensionAndOtherPostretirementPlans
The Company matches 100% of the first 3% of employee contributions, plus 50% of employee contributions that exceed 3% but do not exceed 5%.
us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
62800 usd
us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
78800 usd
CY2022Q3 rlmd Granted Options
GrantedOptions
150000 shares
CY2022Q3 rlmd Exercised Price
ExercisedPrice
18.3 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17886 shares
us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
286176 usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29168511 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29935895 shares
us-gaap Interest Paid Net
InterestPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001553643
CY2022Q2 rlmd Preferred Stock Value1
PreferredStockValue1
usd

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