** Shares of drug developer Relmada Therapeutics fall 77.6% to 62 cents premarket
** Co says its depression treatment is "unlikely" to meet the main goal of a late-stage trial, according to an independent data monitoring committee's analysis
** Co was testing the treatment, REL-1017, as an additional treatment for major depressive disorder to be used in combination with other approved anti-depressants
** Based on these results, Relmada will evaluate the full dataset to determine next steps for the REL-1017 program - RLMD
** Co had about $54.1 million in cash and cash equivalents as of September 30, 2024
** Up to last close, stock down 33% YTD
(Reporting by Sneha S K)
((Sneha.SK@thomsonreuters.com;))
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