Thu, Sep 19, 8:24 PM (92 days ago)
For the fiscal year ending June 30, 2024, Rezolute, Inc. reported a net loss of $68.5 million, an increase from $51.8 million in the previous year, driven by rising operating expenses, particularly in research and development (R&D), which rose 27% to $55.7 million. The company continues to develop its lead asset, ersodetug, for treating hyperinsulinism, with ongoing Phase 3 trials and a focus on expanding U.S. enrollment following the lifting of FDA restrictions. Total operating expenses increased by 26% to $70.4 million, reflecting higher clinical trial costs and administrative expenses. Cash and cash equivalents stood at $70.4 million, supplemented by $56.7 million in marketable securities, providing sufficient liquidity to fund operations through mid-2026. The company completed a public offering in June 2024, raising $62.6 million, enhancing its financial position despite ongoing losses. Key risks include regulatory challenges, reliance on third-party manufacturers, and the need for additional funding. The company has not yet generated revenue as it is still in the clinical development stage for its product candidates.