$RLMD
RELMADA THERAPEUTICS, INC.

2024 Q2 Form 10-Q Financial Statement

#000121390024040856 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 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 $8.098M $9.683M $12.29M
YoY Change -34.09% -21.23% -7.47%
% of Gross Profit
Research & Development $10.72M $13.31M $15.86M
YoY Change -21.97% -16.11% -36.59%
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change
% of Gross Profit
Operating Expenses $18.82M $22.99M $28.15M
YoY Change -27.69% -18.35% -26.49%
Operating Profit -$18.82M -$22.99M -$28.15M
YoY Change -27.69% -18.35%
Interest Expense $1.051M $1.160M $1.832M
YoY Change 45.16% -36.7% -226.49%
% of Operating Profit
Other Income/Expense, Net $1.051M $1.160M $1.832M
YoY Change 45.16% -36.7%
Pretax Income -$17.77M -$21.83M -$26.32M
YoY Change -29.78% -17.07% -33.78%
Income Tax
% Of Pretax Income
Net Earnings -$17.77M -$21.83M -$26.32M
YoY Change -29.78% -17.07% -33.78%
Net Earnings / Revenue
Basic Earnings Per Share -$0.59 -$0.72 -$0.87
Diluted Earnings Per Share -$0.59 -$0.72 -$0.88
COMMON SHARES
Basic Shares Outstanding 30.17M shares 30.17M shares 30.10M shares
Diluted Shares Outstanding 30.17M shares 30.13M shares 30.10M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.44M $83.61M $132.4M
YoY Change -40.57% -36.87% -39.98%
Cash & Equivalents $2.086M $1.335M $28.89M
Short-Term Investments $68.35M $82.28M $103.5M
Other Short-Term Assets $537.5K $752.3K $3.090M
YoY Change -84.53% -75.65% -38.99%
Inventory
Prepaid Expenses $537.5K $752.3K $3.090M
Receivables
Other Receivables
Total Short-Term Assets $70.97M $84.37M $135.5M
YoY Change -41.83% -37.75% -39.97%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $53.63K $43.13K $34.88K
YoY Change 55.03% 23.66% 23.28%
Total Long-Term Assets $53.63K $43.13K $34.88K
YoY Change 55.03% 23.66% 23.28%
TOTAL ASSETS
Total Short-Term Assets $70.97M $84.37M $135.5M
Total Long-Term Assets $53.63K $43.13K $34.88K
Total Assets $71.03M $84.41M $135.6M
YoY Change -41.8% -37.74% -39.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.175M $5.189M $4.422M
YoY Change -13.99% 17.35% -58.56%
Accrued Expenses $5.362M $7.173M $5.675M
YoY Change -8.32% 26.39% 19.75%
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 $9.537M $12.36M $10.10M
YoY Change -10.89% 22.43% -34.47%
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 $9.537M $12.36M $10.10M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $9.537M $12.36M $10.10M
YoY Change -10.89% 22.43% -34.47%
SHAREHOLDERS EQUITY
Retained Earnings -$600.5M -$582.7M -$488.4M
YoY Change 16.89% 19.31%
Common Stock $30.17K $30.17K $30.10K
YoY Change 0.25% 0.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $61.49M $72.05M $125.5M
YoY Change
Total Liabilities & Shareholders Equity $71.03M $84.41M $135.6M
YoY Change -41.8% -37.74% -39.96%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$17.77M -$21.83M -$26.32M
YoY Change -29.78% -17.07% -33.78%
Depreciation, Depletion And Amortization $0.00
YoY Change
Cash From Operating Activities -$13.26M -$13.04M -$16.51M
YoY Change -0.08% -21.01% -15.05%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $14.01M $10.06M $40.00M
YoY Change -1316.79% -74.86% -498.93%
Cash From Investing Activities $14.01M $10.06M $40.00M
YoY Change -1316.79% -74.86% -498.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 $221.7K
YoY Change
NET CHANGE
Cash From Operating Activities -13.26M -$13.04M -$16.51M
Cash From Investing Activities 14.01M $10.06M $40.00M
Cash From Financing Activities 0.000 $221.7K
Net Change In Cash 751.3K -$2.757M $23.50M
YoY Change -105.21% -111.73% 4686.42%
FREE CASH FLOW
Cash From Operating Activities -$13.26M -$13.04M -$16.51M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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RELMADA THERAPEUTICS, INC.
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 1 - BUSINESS</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">Relmada Therapeutics, Inc. (Relmada or the Company) (a Nevada corporation), is a clinical-stage, publicly traded biotechnology company focused on the development of esmethadone (d-methadone, dextromethadone, REL-1017), an N-methyl-D-aspartate (NMDA) receptor antagonist. Esmethadone is a new chemical entity (NCE) that potentially addresses areas of high unmet medical need in the treatment of central nervous system (CNS) diseases and other disorders. Relmada is also developing a proprietary, modified-release formulation of psilocybin (REL-P11) for metabolic indications.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition to the normal risks associated with a new business venture, there can be no assurance that the Company’s research and development will be successfully completed or that any product will be approved or commercially viable. The Company is subject to risks common to companies in the biotechnology industry including, but not limited to, dependence on collaborative arrangements, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, and compliance with the Food and Drug Administration (FDA) and other governmental regulations and approval requirements.</p>
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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">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>
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AccruedVacationCurrentAndNoncurrent
372200 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
105500 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
115500 usd
CY2024Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
7172700 usd
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
8688800 usd
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
100000000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2500000 shares
CY2024Q1 us-gaap Stock Issued1
StockIssued1
4500000 usd
CY2023Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
50000 shares
CY2023Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
10
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
148000000000 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
39119 usd
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
39119 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8295500 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11354500 usd
CY2024Q1 rlmd Royalty Payments
RoyaltyPayments
0.02 pure
CY2024Q1 rlmd Royalties Received
RoyaltiesReceived
0.20 pure
CY2024Q1 rlmd Net Sales
NetSales
0.02 pure
CY2024Q1 us-gaap Payments For Fees
PaymentsForFees
45000 usd
CY2024Q1 rlmd Royalty Payments Percentage
RoyaltyPaymentsPercentage
0.02 pure
CY2024Q1 rlmd Tiered Payments
TieredPayments
0.20 pure
CY2024Q1 us-gaap Taxes And Licenses
TaxesAndLicenses
45000 usd
CY2021Q3 us-gaap Entertainment License Agreement For Program Material Capitalized Cost
EntertainmentLicenseAgreementForProgramMaterialCapitalizedCost
12700000 usd
CY2021Q3 us-gaap Development In Process
DevelopmentInProcess
160000000 usd
CY2021Q3 us-gaap Payments For Rent
PaymentsForRent
11000 usd
CY2021Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5M
CY2021Q3 rlmd Lessee Operating Sublease Option To Expired
LesseeOperatingSubleaseOptionToExpired
2021-12-31
CY2023Q1 us-gaap Payments For Rent
PaymentsForRent
14500 usd
CY2024Q1 us-gaap Lessee Operating Sublease Option To Terminate
LesseeOperatingSubleaseOptionToTerminate
November 30, 2023
CY2023Q4 us-gaap Payments For Rent
PaymentsForRent
12000 usd
CY2024Q1 rlmd Lessee Operating Sublease Option To Expired
LesseeOperatingSubleaseOptionToExpired
2024-07-31
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
62400 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
51700 usd
CY2024Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
35000 usd
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2024Q1 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2024Q1 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
usd
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
CY2023Q1 rlmd Atm Fees
ATMFees
usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2023Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
40400 usd
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001553643

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ea0203670-10q_relmada.htm Edgar Link pending
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