Relmada Therapeutics Inc (OTCMKTS:RLMD) Slips Again

The last time we covered Relmada Therapeutics Inc (OTCMKTS:RLMD) was back in April when the ticker had embarked on an upward run that could have pushed it to $4 per share. Unfortunately, that didn’t happen and RLMD lost some of the value it had gained, dropping to almost $2 per share in the first half of May.

 

The most probable reason for the upward run back then was the company’s update on its NASDAQ application and the fact that it only had to reach a price of $4 a pop to cover the requirements for uplisting. That, however, didn’t happen and RLMD remains a pretty decent OTC marketplace company with the following financials.

 

  • cash: $11.34 million
  • current assets: $11.77 million
  • current liabilities: $2.4 million
  • revenues: ZERO
  • loss from operations: $2.74million

 

These numbers show us that RLMD is actually a pretty decent development stage company with impressive cash reserves. This makes the $30 million market valuation seem a bit small, compared to other OTC entities that have far less to show.

 

Still, the company stock has a hard time attracting investor interest and keeping the confidence. It is rather strange that even optimistic press releases like the one RLMD posted on June 7 aren’t able to provide the stock with a decent upward push.

 

Meanwhile, RLMD lost 6.03% of its value yesterday and finished the session with a price of $2.65. A total of 33 thousand shares changed their hands, generating $88 thousand in daily dollar volume, showing the lack of interest in the company stock.

 

The ticker is still slipping today and you would do well to do your due diligence and weigh out the risks before putting any money on the line.

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