2024 Q3 Form 10-Q Financial Statement

#000121390024066111 Filed on August 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $11.86M $8.098M
YoY Change -3.11% -34.09%
% of Gross Profit
Research & Development $11.15M $10.72M
YoY Change 6.65% -21.97%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $23.01M $18.82M
YoY Change 1.39% -27.69%
Operating Profit -$23.01M -$18.82M
YoY Change 1.39% -27.69%
Interest Expense $1.283M $1.051M
YoY Change 85.92% 45.16%
% of Operating Profit
Other Income/Expense, Net $1.283M $1.051M
YoY Change 85.77% 45.16%
Pretax Income -$21.73M -$17.77M
YoY Change -1.25% -29.78%
Income Tax
% Of Pretax Income
Net Earnings -$21.73M -$17.77M
YoY Change -1.25% -29.78%
Net Earnings / Revenue
Basic Earnings Per Share -$0.72 -$0.59
Diluted Earnings Per Share -$0.72 -$0.59
COMMON SHARES
Basic Shares Outstanding 30.17M shares 30.17M shares
Diluted Shares Outstanding 30.17M shares 30.17M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.12M $70.44M
YoY Change -49.09% -40.57%
Cash & Equivalents $1.484M $2.086M
Short-Term Investments $52.63M $68.35M
Other Short-Term Assets $1.585M $537.5K
YoY Change -43.4% -84.53%
Inventory
Prepaid Expenses $1.585M $537.5K
Receivables
Other Receivables
Total Short-Term Assets $55.70M $70.97M
YoY Change -48.94% -41.83%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $21.98K $53.63K
YoY Change -53.95% 55.03%
Total Long-Term Assets $21.98K $53.63K
YoY Change -53.95% 55.03%
TOTAL ASSETS
Total Short-Term Assets $55.70M $70.97M
Total Long-Term Assets $21.98K $53.63K
Total Assets $55.72M $71.03M
YoY Change -48.95% -41.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.346M $4.175M
YoY Change -17.89% -13.99%
Accrued Expenses $5.741M $5.362M
YoY Change 3.16% -8.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.087M $9.537M
YoY Change -3.98% -10.89%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $8.087M $9.537M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $8.099M $9.537M
YoY Change -3.58% -10.89%
SHAREHOLDERS EQUITY
Retained Earnings -$622.2M -$600.5M
YoY Change 16.14% 16.89%
Common Stock $30.17K $30.17K
YoY Change 0.25% 0.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.63M $61.49M
YoY Change
Total Liabilities & Shareholders Equity $55.72M $71.03M
YoY Change -48.95% -41.8%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$21.73M -$17.77M
YoY Change -1.25% -29.78%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$16.66M -$13.26M
YoY Change 43.22% -0.08%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $16.14M $14.01M
YoY Change 318.23% -1316.79%
Cash From Investing Activities $16.14M $14.01M
YoY Change 318.23% -1316.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -89.60K 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -16.66M -13.26M
Cash From Investing Activities 16.14M 14.01M
Cash From Financing Activities -89.60K 0.000
Net Change In Cash -602.5K 751.3K
YoY Change -92.25% -105.21%
FREE CASH FLOW
Cash From Operating Activities -$16.66M -$13.26M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Document Type
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dei Document Quarterly Report
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dei Document Period End Date
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2024-06-30
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dei Entity Registrant Name
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dei Entity Incorporation State Country Code
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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 unaudited condensed consolidated 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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395000 usd
CY2023Q4 us-gaap Accrued Vacation Current And Noncurrent
AccruedVacationCurrentAndNoncurrent
372200 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
69700 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
115500 usd
CY2024Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
5362300 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
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1300000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Discount For Postvesting Restrictions
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions
0.041 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y6M3D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
39200000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M28D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17416192 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.99
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M18D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11183370 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
487434 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.1
rlmd Sharebased Compensation Arrangement By Sharebased Payment Award Options Granted Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm
P9Y10M17D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
74999 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
18407 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
4757628 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13052592 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M7D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
352084 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
8289638 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
19.59
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y8M8D
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
44692 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
2381366 shares
CY2023Q4 rlmd Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
20.02
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures
567911 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
1813455 shares
CY2024Q2 rlmd Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
23.72
CY2024Q2 rlmd Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Warrants Vested
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWarrantsVested
1722705 shares
CY2024Q2 rlmd Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Warrants Vested
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityWarrantsVested
23.27
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
1700000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
0 usd
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
0 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15508900 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22524000 usd
rlmd Royalty Payments Percentage
RoyaltyPaymentsPercentage
0.02 pure
rlmd Royalties Received
RoyaltiesReceived
0.20 pure
rlmd Net Sales
NetSales
0.02 pure
us-gaap Payments For Fees
PaymentsForFees
45000 usd
rlmd Tiered Payments
TieredPayments
0.20 pure
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
CY2023Q1 us-gaap Lessee Operating Sublease Option To Terminate
LesseeOperatingSubleaseOptionToTerminate
November 30, 2023
CY2023Q4 us-gaap Payments For Rent
PaymentsForRent
12000 usd
CY2023Q4 rlmd Lessee Operating Sublease Option To Expired
LesseeOperatingSubleaseOptionToExpired
2024-05-31
CY2024Q2 us-gaap Payments For Rent
PaymentsForRent
10500 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
122100 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
137000 usd
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
69400 usd
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
80900 usd
ecd Trd Arr Adoption Date
TrdArrAdoptionDate
On May 14, 2024
ecd Trd Arr Ind Name
TrdArrIndName
Charles Ence
ecd Trd Arr Ind Title
TrdArrIndTitle
Chief Accounting and Compliance Officer
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
true
ecd Trd Arr Duration
TrdArrDuration
P8M
CY2024Q2 ecd Trd Arr Securities Agg Avail Amt
TrdArrSecuritiesAggAvailAmt
174361 shares
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
usd
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.31
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30099203 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30099203 shares
rlmd Gain On Settlement Of Fees
GainOnSettlementOfFees
usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
rlmd Atm Fee
ATMFee
usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
rlmd Share Based Compensation Arrangement By Share Basedd Payment Award Options Outstanding Granted Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBaseddPaymentAwardOptionsOutstandingGrantedAggregateIntrinsicValue
usd
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
rlmd Share Based Compensation Arrangement By Share Baseed Payment Award Options Outstanding Forfeited Intrinsic Value
ShareBasedCompensationArrangementByShareBaseedPaymentAwardOptionsOutstandingForfeitedIntrinsicValue
usd
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
rlmd Share Based Compensation Arrangement By Share Based Payment Award Options Outstandin Aggregate Intrinsic Value Cancelled
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandinAggregateIntrinsicValueCancelled
usd
rlmd Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeited Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitedWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
shares
rlmd Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisedWeightedAverageExercisePrice
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

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