2023 Q1 Form 10-K Financial Statement

#000121390023022463 Filed on March 23, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $12.29M $11.83M $47.93M
YoY Change -7.47% 32.83% 36.61%
% of Gross Profit
Research & Development $15.86M $26.87M $113.3M
YoY Change -36.59% 6.31% 25.05%
% of Gross Profit
Depreciation & Amortization $0.00 $0.00 $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $28.15M $38.70M $161.2M
YoY Change -26.49% 13.22% 28.28%
Operating Profit -$28.15M -$161.2M
YoY Change 28.28%
Interest Expense $1.832M $758.1K -$2.146M
YoY Change -226.49% -487.32% 4341.95%
% of Operating Profit
Other Income/Expense, Net $1.832M $0.00 $4.205M
YoY Change -8803.46%
Pretax Income -$26.32M -$37.94M -$157.0M
YoY Change -33.78% 10.37% 24.88%
Income Tax
% Of Pretax Income
Net Earnings -$26.32M -$37.94M -$157.0M
YoY Change -33.78% 10.37% 24.88%
Net Earnings / Revenue
Basic Earnings Per Share -$0.87 -$5.30
Diluted Earnings Per Share -$0.88 -$1.26 -$5.30
COMMON SHARES
Basic Shares Outstanding 30.10M shares 30.10M shares 29.63M shares
Diluted Shares Outstanding 30.10M shares 29.63M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $132.4M $148.3M $148.3M
YoY Change -39.98% -30.01% -30.01%
Cash & Equivalents $28.89M $5.396M $5.396M
Short-Term Investments $103.5M $142.9M $142.9M
Other Short-Term Assets $3.090M $4.035M $4.035M
YoY Change -38.99% -64.3% -64.3%
Inventory
Prepaid Expenses $3.090M $4.035M
Receivables
Other Receivables $512.4K
Total Short-Term Assets $135.5M $152.9M $152.9M
YoY Change -39.97% -31.54% -31.54%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $34.88K $34.88K $34.88K
YoY Change 23.28% 23.26% 23.29%
Total Long-Term Assets $34.88K $34.88K $34.88K
YoY Change 23.28% 23.26% 23.29%
TOTAL ASSETS
Total Short-Term Assets $135.5M $152.9M $152.9M
Total Long-Term Assets $34.88K $34.88K $34.88K
Total Assets $135.6M $152.9M $152.9M
YoY Change -39.96% -31.53% -31.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.422M $5.262M $5.262M
YoY Change -58.56% -52.99% -52.99%
Accrued Expenses $5.675M $7.207M $7.207M
YoY Change 19.75% 86.3% 86.3%
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 $10.10M $12.47M $12.47M
YoY Change -34.47% -17.21% -17.21%
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 $10.10M $12.47M $12.47M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $10.10M $12.47M $12.47M
YoY Change -34.47% -17.21% -17.21%
SHAREHOLDERS EQUITY
Retained Earnings -$488.4M -$462.1M
YoY Change 51.48%
Common Stock $30.10K $30.10K
YoY Change 8.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $125.5M $140.4M $140.4M
YoY Change
Total Liabilities & Shareholders Equity $135.6M $152.9M $152.9M
YoY Change -39.96% -31.53% -31.53%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$26.32M -$37.94M -$157.0M
YoY Change -33.78% 10.37% 24.88%
Depreciation, Depletion And Amortization $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Operating Activities -$16.51M -$35.88M -$103.8M
YoY Change -15.05% -4.72% 12.98%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $40.00M -$1.655M $19.73M
YoY Change -498.93% -98.18% -136.46%
Cash From Investing Activities $40.00M -$1.655M $19.73M
YoY Change -498.93% -98.18% -136.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $42.73M
YoY Change -77.26%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 409.9K $45.02M
YoY Change -99.75% -76.05%
NET CHANGE
Cash From Operating Activities -$16.51M -35.88M -$103.8M
Cash From Investing Activities $40.00M -1.655M $19.73M
Cash From Financing Activities 409.9K $45.02M
Net Change In Cash $23.50M -37.13M -$39.05M
YoY Change 4686.42% -212.53% -193.09%
FREE CASH FLOW
Cash From Operating Activities -$16.51M -$35.88M -$103.8M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<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"><b> </b></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: justify"> </p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Gain on Settlement </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes a gain when cash (or other assets, such as claims to cash) has been received without the expectation of repayment. A gain is recorded when the assets are readily convertible to know amounts of cash or claims to cash. Gains are reported as part of other income (expense) on the consolidated statement of operations. The Company recorded an gain on settlement of $6,351,606 and $0 included in other income (expense) for the years ended December 31, 2022 and 2021, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022 us-gaap Interest And Other Income
InterestAndOtherIncome
6351606 usd
CY2021 us-gaap Interest And Other Income
InterestAndOtherIncome
0 usd
CY2022Q2 rlmd Total Warrants Shares
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260000 shares
CY2022Q2 rlmd Class Of Warrants Or Right Exercise Price Of Warrants Or Rights1
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25.52
CY2022Q2 rlmd Term Year
TermYear
P10Y
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
142926781 usd
CY2022 us-gaap Loss On Sale Of Investments
LossOnSaleOfInvestments
4220255 usd
CY2021 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
611382 usd
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15150047 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13539399 shares
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
313200 usd
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
353300 usd
CY2022Q4 rlmd Prepaid Research And Development
PrepaidResearchAndDevelopment
3619800 usd
CY2021Q4 rlmd Prepaid Research And Development
PrepaidResearchAndDevelopment
10708800 usd
CY2021Q4 rlmd Prepaid Legal
PrepaidLegal
11000 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
102200 usd
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
228400 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
4035200 usd
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
11301500 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q4 rlmd Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
5809800 usd
CY2021Q4 rlmd Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
1928000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
116500 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
168000 usd
CY2022Q4 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
492100 usd
CY2021Q4 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
1191000 usd
CY2022Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
529800 usd
CY2021Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
450400 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
258700 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
131000 usd
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
7206900 usd
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
3868400 usd
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1264523 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
2628061 shares
CY2022 rlmd Cashless Exercise Of Warrants Value
CashlessExerciseOfWarrantsValue
703720 usd
CY2021 rlmd Cashless Exercise Of Warrants Value
CashlessExerciseOfWarrantsValue
668431 usd
CY2021Q4 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
8823530 shares
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
17
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P30D
CY2021Q4 rlmd Additional Shares Of Common Stock
AdditionalSharesOfCommonStock
1323529 shares
CY2022Q3 us-gaap General Partners Offering Costs
GeneralPartnersOfferingCosts
161226945 usd
CY2022Q4 us-gaap Other Partners Capital
OtherPartnersCapital
100000000 usd
CY2014Q4 rlmd Granting To Option Or Stock Awards
GrantingToOptionOrStockAwards
5152942 shares
CY2021Q2 rlmd Granted Options
GrantedOptions
1500000 shares
CY2022Q2 rlmd Granted Options
GrantedOptions
3900000 shares
CY2022Q4 rlmd Granting To Option Or Stock Awards
GrantingToOptionOrStockAwards
10552942 shares
CY2022 rlmd Stock Options Exercisable Period
StockOptionsExercisablePeriod
P10Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2022 us-gaap Restricted Stock Shares Issued Net Of Shares For Tax Withholdings
RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings
1569664 shares
CY2022Q4 us-gaap Shares Issued
SharesIssued
2800000 shares
CY2022Q4 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
3.2
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P10Y
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q3 rlmd Total Warrants Shares
TotalWarrantsShares
260000 shares
CY2022Q3 rlmd Term Year
TermYear
P10Y
CY2022Q3 rlmd Vesting Period
VestingPeriod
P4Y
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
5 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.029 pure
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2022Q2 rlmd Vesting Period
VestingPeriod
P4Y
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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4600000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.95 pure
CY2022Q1 us-gaap Shares Issued
SharesIssued
15000 shares
CY2022Q1 rlmd Class Of Warrants Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantsOrRightExercisePriceOfWarrantsOrRights1
25.76
CY2022Q1 rlmd Term Year
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P10Y
CY2022Q1 rlmd Vesting Period
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P4Y
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
307845 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0255 pure
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.98 pure
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
110000 usd
CY2022Q1 rlmd Term Year
TermYear
P10Y
CY2022Q1 rlmd Vesting Period
VestingPeriod
P4Y
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1600000 usd
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.98 pure
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.96 pure
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021Q4 rlmd Total Warrants Shares
TotalWarrantsShares
65000 shares
CY2021Q4 rlmd Term Year
TermYear
P1Y
CY2021Q4 rlmd Vesting Percentage
VestingPercentage
0.04 pure
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021Q4 rlmd Total Warrants Shares
TotalWarrantsShares
5477004 shares
CY2021Q4 rlmd Vesting Percentage
VestingPercentage
0.04 pure
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
81.6 usd
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021Q1 rlmd Total Warrants Shares
TotalWarrantsShares
25000 shares
CY2021Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
35.15
CY2021Q1 rlmd Term Year
TermYear
P10Y
CY2021Q1 rlmd Vesting Period
VestingPeriod
P4Y
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
701000 usd
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0075 pure
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.01 pure
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0059 pure
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.01 pure
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021Q4 rlmd Incurred Expense Shares
IncurredExpenseShares
3392419 shares
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.0053 pure
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3905737 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
24.32
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y4M24D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
48952339 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
7057004 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
21.15
CY2021 rlmd Share Based Compensation Arrangement By Share Based Payment Award Options Granted Weighted Average Remaining Contractual Term1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm1
P9Y9M18D
CY2021 rlmd Share Based Compensation Arrangement By Share Based Payment Award Options Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercised
-174619 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
457500 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
10330622 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
22.52
CY2021 rlmd Weighted Average Remaining Contractual Term Years Ending Balance1
WeightedAverageRemainingContractualTermYearsEndingBalance1
P9Y
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
46088534 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
3744432 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.4
CY2022 rlmd Share Based Compensation Arrangement By Share Based Payment Award Options Granted Weighted Average Remaining Contractual Term1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm1
P9Y9M18D
CY2022 rlmd Share Based Compensation Arrangement By Share Based Payment Award Options Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercised
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1868750 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
12122606 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
18.19
CY2022 rlmd Weighted Average Remaining Contractual Term Years Ending Balance1
WeightedAverageRemainingContractualTermYearsEndingBalance1
P8Y6M
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
417998 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4356099 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
21.83
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y4M24D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
74348 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Other Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOtherDescription
At December 31, 2022, the Company has unrecognized stock-based compensation expense of approximately $95,400,000 related to unvested stock options over the weighted average remaining service period of 2.7 years. The weighted average fair value of options granted during the years ended December 31, 2022 and 2021 was approximately $7.40 and $22.15 per share, respectively, on the date of grant using the Black-Scholes option pricing model with the following assumptions: 
CY2022 rlmd Dividend Yield
DividendYield
0 pure
CY2021 rlmd Dividend Yield
DividendYield
0 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.0038 pure
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
2670633 shares
CY2020Q4 rlmd Weighted Average Exercise Price Per Share Outstanding Beginning Balance1
WeightedAverageExercisePricePerShareOutstandingBeginningBalance1
9.11
CY2021Q4 rlmd Share Based Compensation Arrangement By Share Based Payment Award Non Options Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsIssuedInPeriod
972000 shares
CY2021 rlmd Weighted Average Exercise Price Per Share Issuedin Dollars Per Share
WeightedAverageExercisePricePerShareIssuedinDollarsPerShare
31.98
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
433856 shares
CY2021 rlmd Weighted Average Exercise Price Per Share Exercisedin Dollars Per Share
WeightedAverageExercisePricePerShareExercisedinDollarsPerShare
6.06
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
3208777 shares
CY2021Q4 rlmd Weighted Average Exercise Price Per Share Outstanding Beginning Balance1
WeightedAverageExercisePricePerShareOutstandingBeginningBalance1
16.45
CY2022Q4 rlmd Share Based Compensation Arrangement By Share Based Payment Award Non Options Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsIssuedInPeriod
1452016 shares
CY2022 rlmd Weighted Average Exercise Price Per Share Issuedin Dollars Per Share
WeightedAverageExercisePricePerShareIssuedinDollarsPerShare
0.001
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
1633352 shares
CY2022 rlmd Weighted Average Exercise Price Per Share Exercisedin Dollars Per Share
WeightedAverageExercisePricePerShareExercisedinDollarsPerShare
0.77
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
3027441 shares
CY2022Q4 rlmd Weighted Average Exercise Price Per Share Outstanding Beginning Balance1
WeightedAverageExercisePricePerShareOutstandingBeginningBalance1
17.02
CY2022Q4 rlmd Number Of Shares Warrants Exercisable
NumberOfSharesWarrantsExercisable
2770004 shares
CY2022Q4 rlmd Weighted Average Exercise Price Per Share Warrants Exercisablein Dollars Per Share
WeightedAverageExercisePricePerShareWarrantsExercisableinDollarsPerShare
15.58
CY2022Q3 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
1452016 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0999 pure
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
221 shares
CY2021Q4 rlmd Warrants To Consultant Description
WarrantsToConsultantDescription
On October 1, 2021, the Company awarded a total of 42,000 warrants to a consultant with an exercise price of $26.74 and a 10-year term, vesting 25% after year one and 6.25% quarterly there after until 100% vested. The warrants have an aggregate fair value of $891,265 calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 1.10% (2) expected life of 6.25 years, (3) expected volatility of 99%, and (4) zero expected dividends. 
CY2021Q1 rlmd Warrants To Consultants Exercise Price Description
WarrantsToConsultantsExercisePriceDescription
the Company awarded a total of 400,000 warrants to consultants with an exercise price of $33.43 and a 10-year term, vesting over 4-year period. The warrants granted include time-based vesting grants and performance vesting based on the Company’s achievement of performance metrics. The warrants have an aggregate fair value of $10.6 million calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.59% (2) expected life of 6.25 years, (3) expected volatility of 101%, and (4) zero expected dividends. As of December 31, 2021, six performance metrics for 200,000 warrants were met. Vesting of such options is subject to the passage of time. For the year ended December 31, 2021, the Company incurred expense of $1,304,776 related to these warrants.
CY2022 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
6200000 usd
CY2022 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
7000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
44194800 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
40494500 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.0164 pure
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
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24964000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
19434000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
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13781000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
12508000 usd
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DeferredTaxAssetsTaxCreditCarryforwardsResearch
7902000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
5333000 usd
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45666000 usd
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DeferredTaxAssetsCapitalLossCarryforwards
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CY2022Q4 rlmd Nonqualified Stock Options
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CY2021Q4 rlmd Nonqualified Stock Options
NonqualifiedStockOptions
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655000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2732000 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
4394000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
2000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
116396000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
96195000 usd
CY2020Q1 rlmd Description Of Class Life Changes
DescriptionOfClassLifeChanges
the Coronavirus Aid Relief and Economic Security (“CARES”) Act was signed into law.  The Act contains several new or changed income tax provisions, including but not limited to the following: increased limitation threshold for determining deductible interest expense, class life changes to qualified improvements (in general, from 39 years to 15 years) and the ability to carry back net operating losses (“NOLs”) incurred from tax years 2018 through 2020 up to the five preceding tax years.  Most of these provisions are either not applicable or have no material effect on the Company.
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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20201000 usd
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
45775000 usd
CY2022 rlmd Operating Loss Carry Forwards Description
OperatingLossCarryForwardsDescription
At December 31, 2022, the Company had federal, New York State and New York City net operating loss (NOL) carryforwards of approximately $118,877,000, $74,792,000 and $74,408,000 respectively, which begin expiring in 2028, 2033 and 2033 respectively. Approximately $73,357,000 federal NOL can be carried forward indefinitely but it is limited to 80% of future taxable income.
CY2022Q4 us-gaap Tax Credit Carryforward Amount
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7877000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.1426 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.0153 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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0.0022 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0 pure
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-0.1287 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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0 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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0 pure
CY2022Q4 rlmd Payment For License
PaymentForLicense
45000 usd
CY2021Q3 rlmd License Agreement Description
LicenseAgreementDescription
Under the terms of the License Agreement, 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
CY2021 rlmd Lease Expense
LeaseExpense
9000 usd
CY2022 rlmd Rent Expense
RentExpense
129600 usd
CY2021 rlmd Rent Expense
RentExpense
111800 usd
CY2021Q4 us-gaap Unearned Premiums
UnearnedPremiums
4000 usd
CY2022 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%.
CY2022 rlmd Employee Contribution Expense
EmployeeContributionExpense
105216 usd
CY2021 rlmd Employee Contribution Expense
EmployeeContributionExpense
112910 usd
CY2022Q4 rlmd Short Term Of Lease Payments Receivable
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CY2022Q4 us-gaap Temporary Equity Shares Outstanding
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shares
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shares
CY2021Q4 us-gaap Preferred Stock Value
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CY2022 us-gaap Depreciation
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CY2021 us-gaap Repayments Of Notes Payable
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CY2021 rlmd Proceeds From Short Swing Profit Net
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CY2021 rlmd Forgiveness Of Accounts Payable Related To Gain
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CY2021 rlmd Cashless Exercise Of Warrants For Common Stock
CashlessExerciseOfWarrantsForCommonStock
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CY2021 rlmd Cashless Exercise Of Options For Common Stock
CashlessExerciseOfOptionsForCommonStock
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CY2022 rlmd Incurred Negative Operating Cash Flows
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CY2022Q4 rlmd Prepaid Legal
PrepaidLegal
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CY2022 rlmd Share Based Compensation Arrangements By Share Based Payment Award Options Exercised In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisedInPeriodWeightedAverageExercisePrice
CY2022 rlmd Share Based Compensation Arrangement By Share Based Payment Award Options Exercised Weighted Average Remaining Contractual Term1
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2022 rlmd Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited Weighted Average Remaining Contractual Term1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitedWeightedAverageRemainingContractualTerm1
CY2022 rlmd Aggregate Intrinsic Value Outstanding And Expected To Vest Forfeited1
AggregateIntrinsicValueOutstandingAndExpectedToVestForfeited1
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CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
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CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
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CY2022 dei Amendment Flag
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false
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0001553643

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