RLMD NEWS: The Klein Law Firm Initiates an Investigation Involving Possible Securities Fraud Violations by Officers of Relmada Therapeutics, Inc.

NEW YORK, May 16, 2023 /PRNewswire/ -- The Klein Law Firm announces that it is investigating allegations that Relmada Therapeutics, Inc. ("Relmada" or the "Company") (NYSE: RLMD) violated federal securities laws.

CURRENT INVESTIGATION DETAILS: 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.

HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the potential claims on behalf of RLMD investors, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/relmada-lawsuit-loss-submission-form?from=4 

ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com

SOURCE The Klein Law Firm