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Relmada Therapeutics raises $115M from stock offering

Relmada Therapeutics Inc. raised $115 million from a public offering of shares after underwriters exercised an option to buy additional stock.

The New York-based pharmaceutical company offered 3,833,334 shares at $30 apiece, including 500,000 shares as part of underwriters' overallotment option.

Relmada intends to use the gross proceeds from the offering to fund the research and development of its treatment-resistant depression drug REL-1017, or dextromethadone, and for general corporate purposes.

Jefferies, SVB Leerink and Guggenheim Securities acted as joint book-running managers for the offering.