Relmada Therapeutics Announces Oversubscribed $160.0 Million Private Placement Financing

Rhea-AI Summary

Relmada Therapeutics (Nasdaq: RLMD) hat eine überzeichnete Privatplatzierung angekündigt, von der erwartet wird, dass sie ca. 160,0 Millionen US-Dollar brutto einbringt, vor Placement-Agenten-Gebühren und Emissionskosten. Die Finanzierung besteht aus 29.474.569 Stammaktien zu 4,75 $ und 4.210.527 vorfinanzierten Warrants zu 4,749 $.

Die vorfinanzierten Warrants haben einen Ausübungswert von 0,001 $. Der Abschluss wird voraussichtlich am oder um den 11. März 2026 erfolgen, vorbehaltlich gängiger Bedingungen. Die Erlöse werden für Betriebskapital und die Weiterentwicklung von F&E verwendet. Das Unternehmen hat zugestimmt, Wiederverkaufs-Registrierungsrechte einzureichen.

Positive

• Gross proceeds of $160.0 million expected from the PIPE financing
• Participation from multiple institutional investors including Venrock, RA Capital, OrbiMed, Janus Henderson
• Registration rights agreed to enable resale of issued shares and issuable shares

Negative

• Issuance of 29,474,569 shares plus 4,210,527 pre-funded warrants may dilute existing shareholders
• Financing priced at $4.75 per share could exert near-term selling pressure if market perceives dilution

News Market Reaction – RLMD

+61.12%

41 alerts

+61.12% News Effect

+77.2% Peak in 20 min

+$199M Valuation Impact

$526M Market Cap

1.3x Rel. Volume

On the day this news was published, RLMD gained 61.12%, reflecting a significant positive market reaction. Argus tracked a peak move of +77.2% during that session. Our momentum scanner triggered 41 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $199M to the company's valuation, bringing the market cap to $526M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

PIPE gross proceeds: $160.0 million Common shares sold: 29,474,569 shares Common share price: $4.75 per share +3 more

6 metrics

PIPE gross proceeds $160.0 million Expected gross proceeds from private placement before fees

Common shares sold 29,474,569 shares Common stock issued in PIPE at fixed price

Common share price $4.75 per share Purchase price for PIPE common stock

Pre-funded warrants 4,210,527 warrants Pre-funded warrants to purchase common stock in PIPE

Warrant purchase price $4.749 per pre-funded warrant Purchase price for pre-funded warrants

Warrant exercise price $0.001 per share Exercise price on pre-funded warrants

Market Reality Check

Price: $7.01 Vol: Volume 448,211 is below t...

normal vol

$7.01 Last Close

Volume Volume 448,211 is below the 20-day average of 580,385, suggesting no pre-news accumulation signal. normal

Technical Shares trade above the 200-day MA of 2.38 with a pre-news price of 4.45, near the 52-week high of 5.12.

Peers on Argus

RLMD was modestly higher pre-news (+0.45%), while momentum peers were mixed, wit...

1 Down

RLMD was modestly higher pre-news (+0.45%), while momentum peers were mixed, with scanner activity showing one peer (MAIA) down ~3.25% and no peers moving up in tandem. This points to a stock-specific capital raise rather than a sector-wide move.

Historical Context

5 past events · Latest: Jan 12 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 12	regulatory update	Positive	-4.6%	FDA written feedback confirming Phase 3 registrational study designs for NDV-01.
Dec 03	clinical data	Positive	+0.5%	Phase 2 NDV-01 data with favorable safety and 92% CR rate at any time point.
Nov 13	earnings & pipeline	Positive	+1.8%	Q3 2025 update highlighting strong NDV-01 data and cash runway into 2028.
Nov 07	earnings date	Neutral	+1.5%	Announcement of upcoming Q3 2025 earnings call and webcast details.
Nov 04	equity offering	Positive	+25.9%	Pricing of ~$100M underwritten offering of common stock and pre-funded warrants.

Pattern Detected

Recent news has often seen price gains even around financings, with one regulatory update showing a notable negative divergence.

Recent Company History

Over the past few months, RLMD has announced key clinical and financing milestones. A Nov 4, 2025 equity offering of about $100M coincided with a strong +25.91% move, while later FDA alignment on NDV-01 registrational design on Jan 12, 2026 saw a -4.64% reaction. Clinical data presentations and earnings updates in Nov–Dec 2025 produced modestly positive moves. Today’s large private placement follows that pattern of recurring equity capital raises alongside advancing NDV-01 into Phase 3.

Market Pulse Summary

The stock surged +61.1% in the session following this news. A strong positive reaction aligns with p...

Analysis

The stock surged +61.1% in the session following this news. A strong positive reaction aligns with prior instances where RLMD traded higher around equity financings, such as the ~$100M offering on Nov 4, 2025 that saw a +25.91% move. The oversubscribed $160.0M PIPE at $4.75 with pre-funded warrants would have expanded the capital base for NDV-01 development. Investors would still have needed to weigh ongoing dilution and available ATM capacity when assessing durability of any rally.

Key Terms

private investment in public equity, PIPE financing, pre-funded warrants, exercise price, +3 more

7 terms

private investment in public equity financial

"entered into a securities purchase agreement for a private investment in public equity (“PIPE”)"

Private investment in public equity occurs when investors buy shares directly from a company that is publicly traded, often at an early stage or at a discount, instead of purchasing them on the open market. This allows investors to acquire a stake more quickly and with potentially better terms, which can influence the company's future growth and stability—making it an important option for those seeking to support or benefit from a company's development.

PIPE financing financial

"a securities purchase agreement for a private investment in public equity (“PIPE”) financing"

Pipe financing is a way for companies to raise money quickly by selling new shares or bonds directly to investors, often before their stock is publicly traded or in the early stages of a project. It’s similar to a company securing a loan from investors, providing quick capital needed for growth or operations. For investors, it can offer opportunities for early involvement and potentially higher returns, but it may also carry increased risk due to the immediate nature of the deal.

pre-funded warrants financial

"pre-funded warrants to purchase 4,210,527 shares of Common Stock at a purchase price of $4.749"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

exercise price financial

"The pre-funded warrants have an exercise price of $0.001 per share."

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

placement agents financial

"Jefferies, Leerink Partners, Piper Sandler and Mizuho are acting as placement agents"

Placement agents are professional intermediaries who help companies, investment funds or governments find and secure investors when selling stocks, bonds or private securities, acting like a matchmaker that introduces sellers to suitable buyers. For investors, the choice of placement agent matters because their network, reputation and negotiating skill affect who gets access, the price and the speed of a deal, and they can introduce conflicts or additional fees that influence returns.

registration statement regulatory

"agreed to file a registration statement with the Securities and Exchange Commission registering the resale"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

registration rights agreement regulatory

"Relmada and the investors entered into a registration rights agreement pursuant to which the Company has agreed"

A registration rights agreement is a contract that gives investors the option to have their ownership stakes officially registered with the government, making it easier to sell their shares later. This agreement matters because it provides investors with a clearer path to cash out their investments if they choose, offering more liquidity and confidence in their ability to sell their holdings when desired.

AI-generated analysis. Not financial advice.

CORAL GABLES, Fla., March 09, 2026 (GLOBE NEWSWIRE) -- Relmada Therapeutics, Inc. (Nasdaq: RLMD, “Relmada” or the “Company”), a clinical-stage biotechnology company advancing innovative therapies for oncology and central nervous system indications, today announced that it has entered into a securities purchase agreement for a private investment in public equity (“PIPE”) financing that is expected to result in gross proceeds of approximately $160.0 million to the Company, before placement agent fees and offering expenses. The PIPE financing included participation from Venrock Healthcare Capital Partners, Commodore Capital, Janus Henderson Investors, RA Capital Management, Balyasny Asset Management, OrbiMed, Spruce Street Capital, Squadron Capital Management, Columbia Threadneedle Investments, Adage Capital Management, Marshall Wace, Braidwell LP, Great Point Partners, LLC and Eventide Asset Management.

Pursuant to the terms of the securities purchase agreement, Relmada is selling an aggregate of (i) 29,474,569 shares of its common stock (“Common Stock”) at a purchase price of $4.75 per share and (ii) pre-funded warrants to purchase 4,210,527 shares of Common Stock at a purchase price of $4.749 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.001 per share. The PIPE financing is expected to close on or about March 11, 2026, subject to satisfaction of customary closing conditions.

Relmada intends to use the net proceeds from the PIPE financing, together with existing cash, cash equivalents, and short-term investments, for working capital and general corporate purposes, which includes the advancement of research and development of its product candidates.

Jefferies, Leerink Partners, Piper Sandler and Mizuho are acting as placement agents for the PIPE financing.

The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and the securities have not been registered under the Securities Act of 1933, as amended, and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Concurrently with the execution of the securities purchase agreement, Relmada and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of Common Stock and the Common Stock issuable upon exercise of the pre-funded warrants, in each case sold in the PIPE financing.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Relmada Therapeutics, Inc.

Relmada is a clinical-stage biotechnology company focused on developing transformative therapies for oncology and central nervous system conditions. Its lead candidates, NDV-01 and sepranolone, are advancing through mid-stage clinical development with the potential to address significant unmet needs.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by us or on our behalf. This press release contains statements which constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including but not limited to statements regarding Relmada’s ability to complete the PIPE financing, the anticipated proceeds to be received in the PIPE financing, the expected timing of the closing of the PIPE financing and the expected use of the proceeds from the PIPE financing. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described under the heading "Risk Factors" set forth in the Company's reports filed with the SEC from time to time. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Relmada undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results and that the risks described herein should not be considered a complete list.

Investor Contact:
Brian Ritchie
LifeSci Advisors
britchie@lifesciadvisors.com

Media Inquiries:
Corporate Communications
media@relmada.com

Source: Relmada Therapeutics

FAQ

How much money will Relmada (RLMD) raise in the March 2026 PIPE financing?

Relmada expects to raise approximately $160.0 million gross from the PIPE financing. According to the company, this figure is before placement agent fees and offering expenses and is subject to customary closing conditions expected around March 11, 2026.

What securities is Relmada (RLMD) selling in the private placement?

Relmada is selling 29,474,569 common shares and 4,210,527 pre-funded warrants in the PIPE. According to the company, common shares are $4.75 each and pre-funded warrants are $4.749 with a $0.001 exercise price.

When is the Relmada (RLMD) PIPE financing expected to close and what are next steps?

The PIPE financing is expected to close on or about March 11, 2026, subject to customary conditions. According to the company, it will also file a registration statement to register resale of the issued shares and shares from warrant exercises.

Who are the placement agents and investors in Relmada's (RLMD) March 2026 PIPE?

Placement agents include Jefferies, Leerink Partners, Piper Sandler and Mizuho. According to the company, investors include Venrock, RA Capital, OrbiMed, Janus Henderson, Balyasny, Adage, Marshall Wace and others.

How does Relmada (RLMD) intend to use the net proceeds from the PIPE financing?

Relmada intends to use net proceeds, plus existing cash, for working capital and general corporate purposes. According to the company, this explicitly includes advancing research and development of its product candidates for oncology and CNS indications.