Business
Rezolute, Inc. Announces Updates to Clinical and Business Operations in Response to COVID-19 Pandemic
REDWOOD CITY, Calif., May 14, 2020 (GLOBE NEWSWIRE) -- Rezolute, Inc. (“Rezolute” or “the Company”) (OTCQB:RZLT), today announced an update on the potential
About this update from Rezolute, Inc.
[{"type":"text","content":"REDWOOD CITY, Calif., May 14, 2020 (GLOBE NEWSWIRE) -- Rezolute, Inc. (“Rezolute” or “the Company”) (OTCQB:RZLT), today announced an update on the potential impact of the global COVID-19 pandemic on the Company’s clinical and business operations. Through the execution of a business continuity plan, Rezolute is focused on the safety of its employees, partners, and patients while minimizing disruption to its productivity and clinical programs.\n Rezolute CEO Nevan Elam stated, “Our first priority is to ensure the wellbeing of all Rezolute employees and stakeholders in compliance with locally and federally advocated best practices. We are fortunate to have experienced little disruption on the financial, clinical and regulatory fronts, and we are conscientiously allocating resources towards development of RZ358 for congenital hyperinsulinism and RZ402 for diabetic macular edema in anticipation of potential longer-term challenges the pandemic may pose.” Financial results for the three and nine months ended March 31, 2020 were not significantly impacted by COVID-19; however, Rezolute continues to evaluate the effects of COVID-19 situation on its ongoing business operations and clinical timelines. Full financial results can be found in the Company’s 10Q statement recently filed with the SEC. Clinical Updates: While enrollment in the recently initiated RZ358-606 Phase 2b trial (“RIZE”) in congenital hyperinsulinism patients has been paused due to COVID-19, the Company is pursuing a number of strategies across several countries to mitigate the disruption of the trial caused by COVID-19. Rezolute no longer expects to report mid-study data by Q4 2020, however, successful execution of these strategies may allow for accelerated patient enrollment upon study resumption and eventual completion of the trial in Q3 2021 as originally planned.The Company continues to prepare for an investigational new drug application (“IND”) for RZ402 in accordance with public health guidelines. Currently, Rezolute believes that IND-enabling activities will be completed by Q3 2020; however, as a result of COVID-19 it is unclear when we will be able to initiate and complete the Phase 1 study. As global health conditions continue to evolve, the Company will keep the market apprised of any developments that may impact RIZE’s timeline. About Rezolute, Inc. Rezolute i...