Rezolute's RZ358 Shows Around 75% Reduction In Hypoglycemia Events

Rezolute Inc RZLT unveiled results from its Phase 2b RIZE study of RZ358 in patients with congenital hyperinsulinism (abnormally high insulin levels) at the Pediatric Endocrine Society 2022 Annual Meeting.
RZ358 showed a better than 50% reduction from baseline in overall and severe hypoglycemia events and time in hypoglycemia in the pooled group of patients across all doses.
A larger improvement of ~75% was seen at the anticipated therapeutic doses of 6 mg/kg and 9 mg/kg.
Also See: Rezolute Highlights Early-Stage Study Results For RZ402 In Diabetic Macular Edema.
RZ358 was generally safe and well-tolerated across the studied dose and age range.
There were no adverse drug reactions, study discontinuations, or occurrences of clinically significant hyperglycemia.
Additionally, Rezolute priced an underwritten registered direct offering of 18.03 million shares at $3.80/share and pre-funded warrants to purchase up to 12.9 million shares at $3.799/ pre-funded warrant.
The company will use the gross proceeds of $130 million to develop RZ358 for congenital hyperinsulinism and RZ402 for diabetic macular edema and other pipeline development, working capital, and general corporate purposes.
Price Action: RZLT shares closed 10.5% higher at $3.80 on Friday.