CNS biotech's stock dives — again — as lead can­di­date fails sec­ond PhI­II test

On Wednes­day, Rel­ma­da Ther­a­peu­tics ran in­to yet an­oth­er ma­jor prob­lem for its lead can­di­date, two months af­ter fac­ing an ear­li­er set­back.

The CNS-fo­cused biotech re­vealed that REL-1017, its lead can­di­date that it has been de­vel­op­ing for ma­jor de­pres­sive dis­or­der, failed to reach the pri­ma­ry end­point in a Phase III study, look­ing at the drug as an ad­junc­tive treat­ment. The end­point was a sta­tis­ti­cal­ly sig­nif­i­cant im­prove­ment in de­pres­sion symp­toms com­pared to place­bo at 28 days, mea­sured by the Mont­gomery-As­berg De­pres­sion Rat­ing Scale.

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