RZLT Stock Rises on FDA's Orphan Designation for Rare Disease Drug

Rezolute, Inc. (RZLT) announced that the FDA has granted an Orphan Drug Designation (“ODD”) to its lead pipeline candidate, ersodetug (RZ358), for the treatment of hypoglycemia caused by tumor hyperinsulinism (HI), a rare disease.Shares of the company were up almost 5% on Dec. 3 following the announcement of the news.The FDA grants ODD to support the development of medicines for rare disorders that affect a few patients in the United States. The Orphan Drug Designation makes the sponsor eligible to receive ...