Rezolute, Inc. (RZLT) stock surged in the current market after announcing positive results from its Phase 2b study of RZ358. RZLT’s stock price is $3.89, gaining more than 6% from the previous closing price. RZLT stock closed at $3.68 at the end of the last trading session. RZLT stock volume traded in the previous trading session was around 36.17K shares. The current market cap of the company is about $57.25 million.
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RZLT announced positive results
Rezolute, Inc. (RZLT) published a press release today that their Phase 2b RIZE study, RZ358, was successful and yielded positive results. In the study, it was discovered that RZ358 was harmless and sustainable in persons with congenital hyperinsulinism, and that it resulted in statistically significant decreases in hypoglycemia in these individuals. At a medical convention in the second quarter of 2022, the findings of the RIZE study will be delivered verbally, accompanied by a conference call organized by the Company to debate the findings.
The Phase 2 RIZE study includes patients with congenital hyperinsulinism whose hypoglycemia was not satisfactorily treated by the standard of care. The trial included 23 participants in four successive dose groups ranging from 3 mg/kg to 9 mg/kg.
RZ358 is an allosteric human monoclonal antibody that binds to liver, fat, and muscle insulin receptors. The antibody works by changing insulin’s binding, signaling, and action to keep glucose levels normal. RZ358 is an Orphan Drug in the US and the EU and a Pediatric Rare Disease in the US.
RZLT CEO’s Remarks
Rezolute’s CEO and Founder, Nevan Charles Elam. According to Mr. Elam, the findings are pretty encouraging, and we are eager to move the initiative into Phase 3. This study would not have been possible without the help of the patients, their loved ones, patient advocacy groups, and the researchers. He also admires the Rezolute team’s commitment to developing a unique solution for this severe illness.
The company is excited to announce the positive results of the Phase 2b study conducted on RZ358. This will open a new stream of revenues for the company.