Rezolute's RZ358 Shows Around 75% Reduction In Hypoglycemia Events
- Rezolute Inc (NASDAQ: 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.
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