Relmada Stock Falls After Equity Raise Of $150M To Fund Depression Candidate

• Relmada Therapeutics Inc (NASDAQ: RLMD) priced an upsized underwritten public offering of 8.82 million shares at .00 per share, with gross proceeds of approximately $150 million.

• The offer price represents a discount of almost 8% from the last close price of $18.54 on Wednesday.

• Earlier, the company offered to sell 0 million of shares.

• The offering will close by December 13.

• Underwriters have an option to purchase up to an additional 1.32 million shares.

• Relmada will use the proceeds to fund R&D activities for its lead product candidate, REL-1017 (esmethadone), for depression and other potential indications.

• Related Link: Relmada Sees Price Target Bump From Leerink, Truist After Positive Data From MDD Candidate.

• Price Action: RLMD shares are down 2.91% at $18 during the premarket session on the last check Thursday.

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