Relmada Therapeutics Inc (OTCMKTS:RLMD) Climbing Higher

[[tagnumber 0]][[tagnumber 1]]Relmada Theraputics Inc (OTCMKTS:RLMD) has had its rough patches, but is doing quite well recently. The ticker began ascending the charts very quickly in the end of last month and it has managed to gain a lot of altitude, while increasing daily volumes.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company’s market cap is still not that big and [[tagnumber 6]]RLMD[[tagnumber 7]] has did well keeping it that way, by executing a 1–for–5 reverse split in the second half of last year and maintaining its outstanding share count rather low. Meanwhile, it’s balance sheet is quite decent, even for a clinical–stage biopharmaceutical OTC company.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $15.12 million[[tagnumber 13]] [[tagnumber 12]]current assets: $15.65 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $4.78 million[[tagnumber 13]] [[tagnumber 12]]no revenues[[tagnumber 13]] [[tagnumber 12]]loss from operations: $5.72 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]These were the numbers contained in [[tagnumber 6]]RLMD’s[[tagnumber 7]] report for the fourth quarter of last year. They show that the cash and current assets have dropped, but the liabilities have also been reduced. Still, the company stock was very thinly traded, which showed that there was a deficit of investor interest.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Recently, as the stock has gained quite a lot of height, this has changed. The percentile increase in price between March 22 and yesterday’s session sits at 151%. After an 18.64% gain the ticker closed at $3.50. Meanwhile, we saw 149 thousand shares change their owners, which generated $555 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This was most probably the results of a very well timed press release issued on April 14 that provided an update on [[tagnumber 6]]RLMD’s[[tagnumber 7]] NASDAQ application and mentioned that the only requirement the company has yet to satisfy is the $4 per share bid price for 30 days in the most recent 60 trading days.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]][[tagnumber 6]]RLMD[[tagnumber 7]] is doing well in today’s session and is already trading at $3.75 per share. Only time will tell if it will manage to reach $4 per share and, most importantly, maintain it for 30 days.[[tagnumber 2]]