RELMADA THERAPEUTICS, INC.
For the period ended Dec 31, 2024. Filed Mar 27, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 27, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For fiscal year ended December 31,2024
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______ to ______
Commission file number:000-55347
(Exact name of registrant as specified in its charter)
| Nevada | 45-5401931 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
2222 Ponce de Leon Blvd., Floor 3
Coral Gables, FL 33134
(Address of principal executive offices) (Zip Code)
(786) 629 1376
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock ($.001 par value) | RLMD | The NASDAQ Global Select Market |
Securities registered pursuant to section 12(g) of the Act:
None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐No ☒
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐No ☒
Indicate by checkmark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| Emerging growth company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No☒
As of June 30, 2024 (the last business day of the registrant’s most recently completed second fiscal quarter), the aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was $89,007,030, based on the closing price on that date as reported on the NASDAQ.
As of March 25, 2025, there were 33,191,622 shares of common stock, $0.001 par value per share, outstanding.
Documents Incorporated by Reference
Portions of the registrant’s definitive proxy statement for its 2025 Annual Meeting of Stockholders (the “Proxy Statement”), to be filed within 120 days of the registrant’s fiscal year ended December 31, 2024, are incorporated by reference in Part III of this Annual Report on Form 10-K. Except with respect to information specifically incorporated by reference in this Annual Report on Form 10-K, the Proxy Statement is not deemed to be filed as part of this Annual Report on Form 10-K.
TABLE OF CONTENTS
| Item Number and Caption · Page | |||
|---|---|---|---|
| Forward-Looking Statements · ii | |||
| PART I | 1 | ||
| 1. | Business | 1 | |
| 1A. | Risk Factors | 16 | |
| 1B. | Unresolved Staff Comments | 38 | |
| 1C. | Cybersecurity | 38 | |
| 2. | Properties | 39 | |
| 3. | Legal Proceedings | 39 | |
| 4. | Mine Safety Disclosures | 39 | |
| PART II | 40 | ||
| 5. | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 40 | |
| 6. | [Reserved] | 41 | |
| 7. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 41 | |
| 7A. | Quantitative and Qualitative Disclosures About Market Risk | 43 | |
| 8. | Financial Statements and Supplementary Data | 46 | |
| 9. | Changes in and Disagreements with Accountants on Accounting, and Financial Disclosure | 46 | |
| 9A. | Controls and Procedures | 46 | |
| 9B. | Other Information | 47 | |
| 9C. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 47 | |
| PART III | 48 | ||
| 10. | Directors, Executive Officers, and Corporate Governance | 48 | |
| 11. | Executive Compensation | 48 | |
| 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 48 | |
| 13. | Certain Relationships and Related Transactions, and Director Independence | 48 | |
| 14. | Principal Accountant Fees and Services | 48 | |
| PART IV | 49 | ||
| 15. | Exhibits and Financial Statement Schedules | 49 | |
| Signatures | 56 | ||
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