Home / Going-concern warnings / RELMADA THERAPEUTICS, INC.
Filed 2025-08-07 路 Form 10-Q 路 Accession 0001213900-25-073073 nano
Price before filing: $0.599 (2025-08-06 close, split/dividend-adjusted)
Market cap at flag: $20.0M (2025-08-07) 路 Latest: $348.4M (2026-10-16)
| Window | RLMD | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +167.1% | +2.5% | +164.6% | 2025-09-08 |
| 90 days | +319.0% | +7.4% | +311.7% | 2025-11-05 |
| 180 days | +534.4% | +9.6% | +524.8% | 2026-02-03 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 4 insiders bought $461K (8 purchases)
30 days after: 1 insider bought $178K (3 purchases)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-05-16 | Ence Chuck CA and CO | Purchase | 228,961 | $0.45 | $103K | no | Form 4 |
| 2025-05-16 | Kelly Paul Edward Chief Operating Officer, Director | Purchase | 200,000 | $0.43 | $86K | no | Form 4 |
| 2025-05-16 | Shenouda Maged Chief Financial Officer | Purchase | 50,000 | $0.44 | $22K | no | Form 4 |
| 2025-05-16 | TRAVERSA SERGIO Chief Executive Officer, Director | Purchase | 172,314 | $0.45 | $77K | no | Form 4 |
| 2025-05-19 | Shenouda Maged Chief Financial Officer | Purchase | 90,000 | $0.49 | $44K | no | Form 4 |
| 2025-05-19 | TRAVERSA SERGIO Chief Executive Officer, Director | Purchase | 30,000 | $0.50 | $15K | no | Form 4 |
| 2025-05-20 | Shenouda Maged Chief Financial Officer | Purchase | 60,000 | $0.52 | $31K | no | Form 4 |
| 2025-05-20 | TRAVERSA SERGIO Chief Executive Officer, Director | Purchase | 147,686 | $0.56 | $82K | no | Form 4 |
| 2025-08-07: red flag filed | |||||||
| 2025-08-26 | TRAVERSA SERGIO Chief Executive Officer, Director | Purchase | 80,545 | $0.62 | $50K | no | Form 4 |
| 2025-08-27 | TRAVERSA SERGIO Chief Executive Officer, Director | Purchase | 129,455 | $0.67 | $87K | no | Form 4 |
| 2025-08-28 | TRAVERSA SERGIO Chief Executive Officer, Director | Purchase | 55,976 | $0.74 | $41K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-05-09 to 2025-09-06. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"These conditions and events raise substantial doubt about the Company's ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-06-30)
Why this score: quarterly (unaudited) disclosure; also within 90 days: Auditor change
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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