Relmada Therapeutics, Inc. (NASDAQ:RLMD), a late-stage biotechnology company addressing diseases of the central nervous system (CNS), today announced the pricing of an upsized underwritten public offering of 8,823,530 shares of its common stock at a public offering price of $17.00 per share. The gross proceeds to Relmada from the offering, before deducting underwriting discounts and commissions and other expenses payable by Relmada, are expected to be approximately $150 million. All of the shares in the offering are being sold by Relmada. The offering is expected to close on December 13, 2021, subject to customary closing conditions. In addition, Relmada has granted the underwriters a 30-day option to purchase up to an additional 1,323,529 shares of Relmada’s common stock at the public offering price, less underwriting discounts and commissions.
Goldman Sachs & Co. LLC, Jefferies and Guggenheim Securities are acting as joint book-running managers for the offering.
Relmada intends to use the net proceeds from the offering, together with existing cash, cash equivalents, and short-term investments, to fund research and development activities for its clinical development programs related to Relmada’s lead product candidate, REL-1017 (esmethadone), which is being developed as a rapidly acting, oral agent for the treatment of depression and other potential indications, as well as for working capital and general corporate purposes.
