RLMD earnings analysis
What we found in RLMD's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Relmada Therapeutics reported a net loss of approximately $19.05 million for Q1 2026, an increase from the $17.56 million loss in Q1 2025. Revenue remains non-existent, indicating a continuation of significant financial challenges despite efforts to realign their development strategy and pursue new candidates like NDV-01 and sepranolone.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Increased Net Loss Year-over-Year
- Net loss increased to $19,052,000 in Q1 2026 from $17,559,500 in Q1 2025.
- Higher Operating Cash Flow Loss
- Operating cash flow loss was $15,067,488, an improvement from $18,067,033 in the prior year.
- Research Expenses Reduction
- Research and development expenses decreased from $11,951,023 in Q1 2025 to $8,087,845 in Q1 2026, a drop of $3,863,178.
- Cash and Investments Increase
- The company reported a net increase in cash of $6,279,860 during Q1 2026.
- Interest Income Growth
- Interest/investment income increased to $959,800 from $440,300 year-over-year.
- Reduction in Short-term Investments Loss
- Unrealized losses on investments decreased from $155,700 to $540,100.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- No Revenue Generation Continues
- The company has not generated any revenue since inception, continuing to face critical financial challenges.
- Increased General and Administrative Expenses
- General and administrative expenses surged to $11,373,909 from $6,267,412, marking an increase of over $5 million.
- Significant Operational Losses
- The total net loss for the past quarter reached $19,052,000, exemplifying ongoing challenges in maintaining financial viability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.22
What they said about what is next.
Management does not expect to generate revenue for the foreseeable future, focusing instead on advancing clinical candidates.
The filing reads worse than the one before it.
What came before.
- 10-K · March 19, 2026
- Relmada Therapeutics reported no revenue for the fiscal year ended December 31, 2025, resulting in a net loss of approximately $57.4 million. The firm has pivoted away from previous drug candidates like esmethadone and…
- 10-Q · November 13, 2025
- Relmada Therapeutics reported no revenue for Q3 2025 and a diluted EPS of -0.30, highlighting ongoing financial challenges. Operating expenses decreased significantly compared to the prior year, but the company remains…
- 10-Q · August 7, 2025
- Relmada Therapeutics reported no revenue and a diluted EPS loss of $0.30 for Q2 2025, marking a consistent trend of losses across several quarters. Operating expenses have significantly decreased from the previous year,…
- 10-Q · May 12, 2025
- Relmada Therapeutics, Inc. reported no revenue for Q1 2025 and continued to post significant net losses, driven by high operating expenses, despite a decrease compared to the prior year. Management has shifted focus…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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