Relmada Posts $8.5M Q1 Loss, $183M Cash; Launches Phase 3 Depression Trial
Relmada closed Q1 2026 with $183.0 million in cash and equivalents, providing funding into Q2 2027, and narrowed its net loss to $8.5 million versus $10.7 million a year earlier. The company secured Fast Track designation and kicked off its Phase 3 Bridge study of dextromethadone for major depressive disorder, targeting year-end topline data.
1. Q1 2026 Financial Results
Relmada reported cash and equivalents of $183.0 million at March 31, 2026, down from $195.4 million at year-end, and recorded a net loss of $8.5 million, an improvement from a $10.7 million loss in Q1 2025. R&D spending totaled $6.2 million, while G&A expenses were $4.1 million, reflecting tighter cost controls.
2. Pipeline and Regulatory Progress
The company secured Fast Track designation for dextromethadone in major depressive disorder and initiated its Phase 3 Bridge study, enrolling the first patients this quarter. Management expects to report topline results by year-end 2026, aiming for accelerated regulatory review.
3. Financial Outlook and Runway
With a quarterly burn rate of approximately $13 million, the $183.0 million cash balance supports operations into Q2 2027. Relmada plans to maintain disciplined spending while preparing for potential partnering or financing discussions ahead of pivotal readouts.