Business
Rezolute Reports Fourth Quarter and Full Year Fiscal 2022 Results and Highlights Company Progress
Announced a $130 million registered direct offering and concurrent private placement priced at-the-market Late-breaking oral presentation from Phase 2b RIZE
About this update from Rezolute, Inc.
[{"type":"text","content":"Announced a $130 million registered direct offering and concurrent private placement priced at-the-market Late-breaking oral presentation from Phase 2b RIZE study of RZ358 presented at ESPE 2022 Phase 2 proof-of-concept study of RZ402 expected to be initiated later this year REDWOOD CITY, Calif., Sept. 15, 2022 (GLOBE NEWSWIRE) -- Rezolute, Inc. (Nasdaq: RZLT), a clinical-stage biopharmaceutical company dedicated to developing transformative therapies with the potential to shift the treatment paradigms of devastating metabolic diseases, today announced its financial results for the fourth quarter and full fiscal year ended June 30, 2022. “This quarter marked steady progress as we continue to drive our clinical programs forward, including RZ358 for congenital hyperinsulinism and RZ402 for diabetic macular edema,” said Nevan Charles Elam, Chief Executive Officer and Founder of Rezolute. “With the $130 million financing that we completed, we are well-capitalized to advance RZ358 into a Phase 3 trial and to initiate a Phase 2 proof-of-concept study for RZ402. We believe these candidates hold the potential to create a new standard of care for patient populations in need of better therapeutic options.” Corporate and Clinical Highlights Financing Update Rezolute raised gross proceeds of $130 million in a registered direct offering and concurrent private placement backed by notable growth and life science investors. RZ358, monoclonal antibody for the treatment of congenital hyperinsulinism The results of the Phase 2b RIZE study of RZ358 in patients with congenital hyperinsulinism (HI) were revealed in a late-breaking oral presentation at the 2022 Pediatric Endocrine Society Annual Meeting in May and discussed by management in a conference call following the presentation. RZ358 demonstrated good safety and tolerability across all doses with no study discontinuations or adverse drug reactions. Results exceeded expectations for correction of hypoglycemia, including a highly significant reduction of ~75% in hypoglycemia events by blood glucometer (BGM) as well as time in hypoglycemia by continuous glucose monitoring (CGM) at anticipated therapeutics doses. Rezolute also presented additional data from the RIZE study at the 60th European Society for Paediatric Endocrinology (ESPE) meeting this month. RZ402, oral plasma kallikrein inhibitor to...