Relmada Therapeutics Inc Down 15.08% To $4.56 After Earnings Miss

Relmada Therapeutics Inc (RLMD) said after close Tuesday that it lost $0.84 per share in quarter four 2023. The company reported $0.00 in revenue

In the same quarter a year ago, the company lost $1.28 per share on revenue of $0.00.

The stock is down 15.08% to $4.56 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 53. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Relmada Therapeutics Inc is a clinical-stage biotechnology company. It is engaged in developing chemical entities with novel versions of drug products that address areas of high unmet medical need in the treatment of central nervous system diseases. The company is focused on the development of esmethadone (d-methadone, dextromethadone, REL-1017), an N-methyl-D-aspartate (NMDA) receptor antagonist. Its lead product candidate, esmethadone, is an oral agent for the treatment of depression and other potential indications.