Why Did Relmada Therapeutics Plunge 15.97% Despite Positive Phase 2 Data?

On April 29, 2025, Relmada Therapeutics experienced a significant drop of 15.97% in pre-market trading, marking a notable decline in its stock performance.

Relmada Therapeutics recently presented positive initial Phase 2 data for NDV-01 at the AUA2025 conference. The data showed an overall response rate of 85% at three months, with 17 out of 20 patients responding positively. Additionally, 90% of patients achieved high-grade disease-free status at any time point, indicating the potential efficacy of NDV-01 in treating certain conditions.

NDV-01 is an investigational, innovative sustained-release formulation of two complementary chemotherapy agents, gemcitabine and docetaxel. This formulation aims to provide a more effective and sustained treatment option for patients, potentially addressing areas of high unmet medical need.

Relmada Therapeutics is a clinical-stage biotechnology company focused on developing therapies for central nervous system (CNS) and metabolic disorders. The company's lead program, REL-1017, is a novel NMDA receptor (NMDAR) channel blocker that preferentially targets hyperactive channels while maintaining physiological glutamatergic neurotransmission. Its lead product candidate, esmethadone, is being developed as a rapidly acting, oral agent for the treatment of depression and other potential indications. Additionally, the company is developing sepranolone, a phase IIb ready neurosteroid for the potential treatment of Tourette syndrome and other compulsive disorders.