Relmada Therapeutics gets $15 million capital via exercise of warrants

Warrants were issued as part of private placement in Q2

By Susanna Moon

Chicago, Oct. 29 – Relmada Therapeutics, Inc. said it received more than $15 million of capital last week through the issuance of 10.1 million shares of its common stock.

The stock was issued when A warrants, which were originally issued as part of a private placement in the second quarter, were exercised at $1.50 per share.

The funding will significantly strengthen the company's balance sheet and help with its development strategy, according to a company press release.

Relmada is a biopharmaceutical firm with four novel pain treatment drugs under development in its pipeline. The company is based in New York.

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