NEW YORK, April 14, 2016 /PRNewswire/ -- Relmada Therapeutics, Inc. (OTCQB: RLMD) a clinical-stage company developing novel therapies for the treatment of chronic pain, today provided investors with an update regarding the Company's qualification for up-listing to The Nasdaq Capital Market ("Nasdaq"). As previously disclosed, the Company submitted an initial listing application with Nasdaq in the second half of 2015. The Company now believes that it satisfies each of the exchange's applicable listing requirements, with the exception of the $4.00 bid price requirement. In accordance with the Nasdaq Listing Rules, the Company's stock price must close at or above $4.00 per share for 30 of the most recent 60 trading days in order for the Company to be eligible to list.
Sergio Traversa, the Company's Chief Executive Officer, stated, "The up-listing of RLMD to Nasdaq would be a significant milestone for the Company, providing investors with increased liquidity, and generating a higher level of visibility for the Company."
Although the Company believes it will ultimately list on Nasdaq, the Company can provide no assurance that Nasdaq will approve the Company's application for listing.
About Relmada Therapeutics, Inc.
Relmada Therapeutics is a clinical-stage, publicly traded specialty pharmaceutical company developing novel versions of proven drug products together with new chemical entities that potentially address areas of high unmet medical need in the treatment of pain. The Company has a diversified portfolio of four lead products at various stages of development including d-Methadone (REL-1017) its N-methyl-D-aspartate (NMDA) receptor antagonist for neuropathic pain; topical mepivacaine (REL-1021), its orphan drug designated topical formulation of the local anesthetic mepivacaine; oral buprenorphine (REL-1028) its oral dosage form of the opioid analgesic buprenorphine; and LevoCap ER (REL-1015), its abuse resistant, sustained release dosage form of the opioid analgesic levorphanol. The Company's product development efforts are guided by the internationally recognized scientific expertise of its research team. The Company's approach is expected to reduce clinical development risks and costs while potentially delivering valuable products in areas of high unmet medical needs. For more information, please visit Relmada's website at: www.relmada.com.
We may from time to time make written or oral statements in this letter, the proxy statements filed with the SEC communications to stockholders and press releases 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. These forward-looking statements are based upon management's current expectations, estimates, assumptions and beliefs concerning future events and conditions and may discuss, among other things, anticipated future performance, expected product development, product potential, future business plans and costs. 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" and similar expressions. 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 of the risks, uncertainties and other factors that may affect future results and that the risks described herein should not be considered to be a complete list.
Contacts Investors: Michael Becker, SVP of Finance and Corporate Development Relmada Therapeutics Inc. Tel: 212-376-5776 [email protected]
Media Contact: Lynn Granito Berry & Company Public Relations Tel: 212-253-8881 [email protected]