INVESTIGATION ALERT: The Gross Law Firm Notifies Shareholders of Relmada Therapeutics, Inc. of an Investigation and Potential Class Action Lawsuit - (NYSE: RLMD)
NEW YORK, May 3, 2023 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Relmada Therapeutics, Inc.:
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. Due to the forgoing, The Gross Law Firm is investigating potential securities fraud claims on behalf of certain Relmada investors. If you incurred a loss on your RLMD investment, please contact us using the link below to discuss your rights.
https://securitiesclasslaw.com/securities/relmada-loss-submission-form/?from=4
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm
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