Relmada Therapeutics Inc. (RLMD)

[VictorMasonIsRight]

E mail to a retired airline pilot I sat with at the town Christmas dinner:
Hello XXXX,
Enjoyed meeting you today too. Look forward to going to the Avalanche Brewery.

Are you the St George who got my late wife Gwenn’s Mercedes to run better in the mountains?
image1.jpeg

The biochem company I mentioned is Relmada Therapeutics RLMD on NASDAQ.

Three weeks ago it was under $30, they raised $115mm last week at $30 share in a secondary offering that was oversubscribed by 4 times pushing it to over $45 briefly. Venrock, the founding backers of Intel and Apple, invested $25mm in 800,000 + shares at $30. Since popping up to $45 it has drifted down slowly to about $40.

They since announced two new board members and issued stock options to all the directors at $43.70/ share. One of the new directors Eric Schmidt had previously invested about $380,000 in 55,000 shares ($6 and $9/ share) of the company in two offerings that I participated in last June and in October 2018. He is a PhD (biochem) from MIT was for 20 years a top ranked biotech analyst and banker at Cowan & Co. and currently the CFO of $4b Allogene ( ALLO)

I will forward an email
I recently sent to my veterinarian in Harlingen who treated my cat 9 months ago. I told her about Relmada back ($11) then but none of my e mails got thru to her.

Here are the press releases from the company website:

https://www.relmada.com/news-events/press-releases

It may drift down under $40 in the coming weeks, the chart looks weak short term:

https://stockcharts.com/h-sc/ui?s=RLMD

but I’m not selling.

The company doesn’t leak inside information so I never know when good news is coming. I suspect the next good news will be getting designated a ‘Breakthrough Therapy’ by the FDA (They are already fast tracked by the FDA) or another buy report from some brokerage firm. The first one was published last week by Guggenheim with an initial price target of $64 ( ‘$128 with a 50% certainty’ ) Their long term revenue projection of $1.2 billion supports my estimate of $300-$500/ share.
Let’s get together soon,
Merry Christmas Les



https://www.outtherecolorado.com/mountain-town-fire-takes-out-historic-building-internet-and-cell-service/