Relmada Therapeutics raises $160 million in oversubscribed private placement

Relmada Therapeutics Inc. (NASDAQ: RLMD) announced it entered into a securities purchase agreement for a private investment in public equity financing expected to generate gross proceeds of approximately $160 million before fees and expenses.

The clinical-stage biotechnology company said the private placement included participation from multiple institutional investors including Venrock Healthcare Capital Partners, Commodore Capital, Janus Henderson Investors, RA Capital Management, Balyasny Asset Management, and OrbiMed, among others.

Under the agreement terms, Relmada is selling 29,474,569 shares of common stock at $4.75 per share and pre-funded warrants to purchase 4,210,527 shares at $4.749 per warrant. The pre-funded warrants carry an exercise price of $0.001 per share. The financing is expected to close around March 11, 2026, subject to customary closing conditions.

The company stated it intends to use net proceeds from the financing, combined with existing cash and investments, for working capital and general corporate purposes, including advancement of research and development for its product candidates.

Jefferies, Leerink Partners, Piper Sandler and Mizuho are serving as placement agents for the transaction.

The securities are being sold in a private transaction and have not been registered under the Securities Act of 1933. Relmada and investors entered into a registration rights agreement requiring the company to file a registration statement with the Securities and Exchange Commission for resale of the shares and common stock underlying the pre-funded warrants.

Relmada focuses on developing therapies for oncology and central nervous system conditions, with lead candidates NDV-01 and sepranolone in mid-stage clinical development.

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