Relmada Therapeutics Provides Corporate Update and Reports Fourth Quarter and Full-Year 2021 Financial Results

Relmada Therapeutics Provides Corporate Update

and Reports Fourth Quarter and Full-Year 2021 Financial Results

CORAL GABLES, Fla., March 23, 2022 /PRNewswire/

-- Relmada Therapeutics, Inc. (Nasdaq: RLMD), a late-stage biotechnology company addressing diseases of the central nervous system (CNS),

today provided a corporate update and announced preliminary and unaudited financial results for the fourth quarter and full year ended

December 31, 2021. The Company will host a conference call today, Wednesday, March

23, at 4:30 PM Eastern Time/1:30 PM Pacific

"We are pleased by the significant progress

achieved throughout 2021 in advancing our lead program, REL-1017, and we expect 2022 to be a catalyst-rich year for Relmada," said

Sergio Traversa, Relmada's Chief Executive Officer. "Importantly, we have now successfully completed two human abuse potential

(HAP) studies which confirmed no meaningful abuse potential of REL-1017 compared to oxycodone and ketamine, consistent with previously

reported data and the DEA statement on esmethadone."

"Looking ahead, we anticipate multiple key

data readouts throughout the remainder of the year, as the multiple ongoing clinical studies that comprise RELIANCE continue to progress.

In mid-2022 we expect data from RELIANCE III, our ongoing monotherapy registrational Phase 3 study, followed by data in the third and

fourth quarters from RELIANCE I and RELIANCE II, our Phase 3 pivotal studies for adjunctive treatment of MDD, respectively. Importantly,

our robust REL-1017 development program continues to be supported by a strong balance sheet, which was further enhanced by the successful

over-subscribed follow-on offering that we closed in the fourth quarter of last year."

Recent Corporate Highlights

Upcoming Anticipated Milestones for REL-1017

Fourth Quarter 2021 Financial Results

Full-Year 2021 Financial Results

The Company's complete audited financial

statements and notes thereto as of and for the years ended December 31, 2021 and 2020, will be contained in its Annual Report on Form

10-K to be filed with the Securities and Exchange Commission.

Conference Call and Webcast Details

A replay of the webcast will be available in the Investors section

of the Relmada website at https://www.relmada.com/investors/ir-calendar.

REL-1017, a new chemical entity (NCE) and novel

NMDA receptor (NMDAR) channel blocker that preferentially targets hyperactive channels while maintaining physiological glutamatergic neurotransmission,

is currently in late-stage development for the treatment of MDD. The ongoing RELIANCE Clinical Research Program is designed to evaluate

the potential for REL-1017 as a rapid-acting, oral, once-daily antidepressant treatment. In a Phase 2 trial, REL-1017 demonstrated robust,

rapid, and sustained antidepressant effects with statistically significant improvements compared to placebo. The Phase 2 study also showed

a favorable pharmacokinetic, safety, and tolerability profile of REL-1017 consistent with results observed in previously completed Phase

About Relmada Therapeutics, Inc.

Relmada Therapeutics is a late-stage biotechnology

company addressing diseases of the central nervous system (CNS), with a focus on major depressive disorder (MDD). Relmada's experienced

and dedicated team is committed to making a difference in the lives of patients and their families. Relmada's lead program, REL-1017,

is a new chemical entity (NCE) and novel NMDA receptor (NMDAR) channel blocker that preferentially targets hyperactive channels while

maintaining physiological glutamatergic neurotransmission. REL-1017 has entered late-stage development as an adjunctive treatment and

monotherapy treatment for MDD in adults. In addition, Relmada is advancing a clinical-stage program in neurodegenerative diseases based

on psilocybin and select derivative molecules. Learn more at www.relmada.com.

Forward-Looking Statements

The Private Securities Litigation Reform Act of

1995 provides a safe harbor for forward-looking statements made by us or on our behalf. This press release contains statements which constitute

"forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities

Exchange Act of 1934, including but not limited to statements regarding the expected use of the proceeds from the offering. Any statement

that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects,"

"anticipates," "believes," "will," "will likely result," "will continue," "plans

to," "potential," "promising," and similar expressions. These statements are based on management's current expectations

and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from

those described in the forward-looking statements, including the risk factors described under the heading "Risk Factors" set

forth in the Company's reports filed with the SEC from time to time. No forward-looking statement can be guaranteed, and actual results

may differ materially from those projected. Relmada undertakes no obligation to publicly update any forward-looking statement, whether

as a result of new information, future events, or otherwise. Readers are cautioned that it is not possible to predict or identify all

the risks, uncertainties and other factors that may affect future results and that the risks described herein should not be a complete

Relmada Therapeutics, Inc.

Consolidated Balance Sheets

(Preliminary and Unaudited)

Relmada Therapeutics, Inc.

Consolidated Statements of Operations

For the Years Ended December 31, 2021 and 2020

(Preliminary and Unaudited)