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Relmada Therapeutics Inc (OTCMKTS:RLMD) reported that it is advancing with enrollment process in its proof-of-concept study with unique formulations of enteric-coated oral buprenorphine. The medication is being developed to cure chronic pain and opioid dependence. The enrollment in the study has reached the halfway point. Also, the company reiterated its previous guidance of reporting top-line data in 2H2015.

The success

The CEO Sergio Traversa said that the advancement in the enrollment process in the proof-of-concept study highlights another noteworthy milestone as the company continues to works on oral formulation of BuTab. The lead candidate of Relmada compares positively with presently marketed medications of buprenorphine.

BuTab will be taken by mouth and move through the body to intestinal tract where it will finally be absorbed. The advancement of BuTab represents a major commercial opportunity for company.

The clinical study

Relmada announced that the study is planned to gauge the safety, acceptability, and pharmacokinetics of drug candidate ‘BuTab’ in healthy subjects. The primary endpoint is to know if buprenorphine can be given orally. In addition, the study will assess if it reaches effective and safe blood levels when administered through the gastrointestinal route.

The developments holds significant value for Relmada as it is trying to make a commercially available oral drug of buprenorphine that supports gastro-intestinal absorption. The pivotal study’s data will be considered for planning subsequent clinical pharmacology studies to heal opioid dependence and plan regulatory submission for this indication.

The portfolio

Relmada Therapeutics is working to develop novel formulations of proven drugs together with new chemical firms. It has a diversified portfolio which contains four lead products, REL-1028, REL-1015, REL-1017 and REL-1021. The development plans are directed by the internationally known scientific expertise of leading research team.

In early morning trade on Tuesday, the stock price of Relmada Therapeutics Inc (OTCMKTS:RLMD) is trading flat at $1.69. However, in last trading session, the declined more than 8% at a share volume of 39,043.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.