RLMD FRAUD ALERT: Jakubowitz Law is Investigating Relmada Therapeutics, Inc. in Connection with Potential Violations of Federal Securities Laws

NEW YORK, May 12, 2023 /PRNewswire/ -- Jakubowitz Law announces that an investigation into potential securities fraud allegations has commenced on behalf of shareholders of Relmada Therapeutics, Inc. (NYSE: RLMD)

To be contacted by a member of our team, fill out the form:

https://claimyourloss.com/securities/relmada-class-action-loss-submission-form/?from=4

Further details on the investigation: Before market opened on October 13, 2022, Relmada announced the results of its RELIANCE III study (REL-1017-303), evaluating the drug REL-1017 as a monotherapy for Major Depressive Disorder (MDD). Relmada revealed that the RELIANCE III trial did not achieve its primary endpoint, which was a statistically significant improvement in depression symptoms compared to placebo on Day 28, as measured by the Mongomery-Asberg Depression Rating Scale (MADRS). Specifically, the REL-1017 treatment showed a MADRS reduction of 14.8 points at Day 28 versus 13.9 points for placebo, a higher-than-expected placebo response. Relmada described that "[p]aradoxical results were observed in certain study sites, where placebo dramatically outperformed REL-1017."

Following this news, Relmada's stock price fell nearly 80% to close at $6.48 per share on October 13, 2022.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887

SOURCE Jakubowitz Law

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