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Relmada (RLMD) Up on Positive Data for Anti-Depressant Candidate
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Relmada Therapeutics’ (RLMD - Free Report) shares were up 6% on Sep 20, as it announced long-term efficacy and safety data from the late-stage Study 301 of its lead candidate REL-1017 (esmethadone hydrochloride) — an antidepressant evaluated for major depressive disorder.
REL-1017 is an NMDA receptorchannel blocker being developed as a fast-acting therapy for depression.
The late-stage study data showed that after one-year treatment of REL-1017, patients experienced a rapid, clinically meaningful and sustained improvement in the depressive symptoms and associated functional impairment.
Shares of Relmada have lost 15.2% year to date compared with the industry’s 4.7% decline.
Image Source: Zacks Investment Research
The company noted an improvement in Montgomery–Åsberg Depression Rating Scale (MADRS) total score. MADRS is a widely used clinician-rated measure of depressive severity. A 12-month treatment with REL-1017 resulted in a MADRS score of 22.5 points compared with a baseline score of 33.8 points.
Also, long-term doses of REL-1017 were well tolerated and no safety signal such as weight gain, sexual dysfunction or cardiovascular issue was indicated.
In earlier clinical studies, REL-1017 showed rapid, robust and sustained antidepressant effects with statistically significant improvements as compared to placebo. Besides the above study, the company is also conducting two late-stage studies — RELIGHT and RELIANCE II. These studies evaluate REL-1017 for an adjunctive treatment of major depressive disorder. Both studies have the same key study design parameters as Study 301.
In August 2022, the candidate was granted the Fast Track designation by the FDA for treating patients with major depressive disorder. The designation expedites development and review of drugs for severe or life-threatening conditions for which there is no existing treatment.
In the past 90 days, the Zacks Consensus Estimate forAnika Therapeutics has narrowed from a loss of $1.41 per share to a loss of $1.24 for 2023. The bottom-line estimate has widened from a loss of 79 cents to a loss of 82 cents for 2024 during the same time frame. Shares of the company have lost 40.0% year to date.
ANIK’s earnings beat estimates in one of the trailing four quarters and missed the mark in the remaining three, delivering an average negative surprise of 32.12%.
In the past 90 days, the Zacks Consensus Estimate for Annovis Bio has narrowed from a loss of $4.89 per share to a loss of $4.38 for 2023. The bottom-line estimate has narrowed from a loss of $3.18 to a loss of $2.77 for 2024 during the same time frame. Shares of the company have lost 20.0% year to date.
ANVS’ earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 13.40%.
In the past 90 days, the Zacks Consensus Estimate for Corcept’s earnings has gone up from 62 cents per share to 78 cents for 2023. The bottom-line estimate has also improved from 61 cents to 83 cents for 2024 during the same time frame. Shares of the company have rallied 62.3% year to date.
CORT’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 6.99%.
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Relmada (RLMD) Up on Positive Data for Anti-Depressant Candidate
Relmada Therapeutics’ (RLMD - Free Report) shares were up 6% on Sep 20, as it announced long-term efficacy and safety data from the late-stage Study 301 of its lead candidate REL-1017 (esmethadone hydrochloride) — an antidepressant evaluated for major depressive disorder.
REL-1017 is an NMDA receptorchannel blocker being developed as a fast-acting therapy for depression.
The late-stage study data showed that after one-year treatment of REL-1017, patients experienced a rapid, clinically meaningful and sustained improvement in the depressive symptoms and associated functional impairment.
Shares of Relmada have lost 15.2% year to date compared with the industry’s 4.7% decline.
Image Source: Zacks Investment Research
The company noted an improvement in Montgomery–Åsberg Depression Rating Scale (MADRS) total score. MADRS is a widely used clinician-rated measure of depressive severity. A 12-month treatment with REL-1017 resulted in a MADRS score of 22.5 points compared with a baseline score of 33.8 points.
Also, long-term doses of REL-1017 were well tolerated and no safety signal such as weight gain, sexual dysfunction or cardiovascular issue was indicated.
In earlier clinical studies, REL-1017 showed rapid, robust and sustained antidepressant effects with statistically significant improvements as compared to placebo. Besides the above study, the company is also conducting two late-stage studies — RELIGHT and RELIANCE II. These studies evaluate REL-1017 for an adjunctive treatment of major depressive disorder. Both studies have the same key study design parameters as Study 301.
In August 2022, the candidate was granted the Fast Track designation by the FDA for treating patients with major depressive disorder. The designation expedites development and review of drugs for severe or life-threatening conditions for which there is no existing treatment.
Relmada Therapeutics, Inc. Price and Consensus
Relmada Therapeutics, Inc. price-consensus-chart | Relmada Therapeutics, Inc. Quote
Zacks Rank & Stocks to Consider
Relmada currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same industry are Anika Therapeutics (ANIK - Free Report) , Annovis Bio (ANVS - Free Report) and Corcept Therapeutics (CORT - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate forAnika Therapeutics has narrowed from a loss of $1.41 per share to a loss of $1.24 for 2023. The bottom-line estimate has widened from a loss of 79 cents to a loss of 82 cents for 2024 during the same time frame. Shares of the company have lost 40.0% year to date.
ANIK’s earnings beat estimates in one of the trailing four quarters and missed the mark in the remaining three, delivering an average negative surprise of 32.12%.
In the past 90 days, the Zacks Consensus Estimate for Annovis Bio has narrowed from a loss of $4.89 per share to a loss of $4.38 for 2023. The bottom-line estimate has narrowed from a loss of $3.18 to a loss of $2.77 for 2024 during the same time frame. Shares of the company have lost 20.0% year to date.
ANVS’ earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 13.40%.
In the past 90 days, the Zacks Consensus Estimate for Corcept’s earnings has gone up from 62 cents per share to 78 cents for 2023. The bottom-line estimate has also improved from 61 cents to 83 cents for 2024 during the same time frame. Shares of the company have rallied 62.3% year to date.
CORT’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 6.99%.