HC Wainwright initiated coverage on RLMD with a Buy rating and a $12 target, highlighting NDV-01 for NMIBC. New Phase 2 interim data show high complete response rates, especially in BCG-unresponsive patients, and a provisional patent could extend protection to 2047. The stock has surged versus peers, reflecting a shift toward bladder-sparing regimens amid BCG shortages.
Reliance II Phase 3 study deemed futile for REL-1017 treatment efficacy. No new safety issues were reported despite disappointing trial results. Relmada plans to analyze full data for future REL-1017 program direction. The company's focus will remain on advancing the Phase 1 REL-P11 study. RLMD stock experienced a significant decline of 75.4% post-announcement.