Rezolute, Inc. (NASDAQ:RZLT) Faces Setback with Phase 3 Study, Impacting Stock Performance

Core Insights - Rezolute, Inc. faced a significant setback with its Phase 3 sunRIZE study for treating congenital hyperinsulinism, leading to a dramatic decline in stock performance [1][5] Group 1: Study Results - The sunRIZE study did not meet its primary endpoint, with the highest dose of ersodetug achieving only a 45% reduction in hypoglycemia events, which was not statistically significant compared to the placebo group's 40% reduction [2][5] - The trial also failed to meet its key secondary endpoint, showing a 25% reduction in average daily percent time in hypoglycemia for the top dose, while the placebo group experienced a 5% increase [3][5] - Despite these failures, the company reported that target drug concentrations were achieved across all age groups, and safety observations were generally favorable, although two participants experienced serious hypersensitivity reactions [3] Group 2: Stock Performance - Following the disappointing trial results, Wedbush set a price target of $1 for RZLT, indicating a potential decrease of approximately -19.68% from its trading price of $1.245 [2][5] - The stock has seen a significant decline of 88.21% from its previous value, currently priced at $1.29, with fluctuations between a low of $1.07 and a high of $1.41 [4][5] - Over the past year, the stock reached a high of $11.46 and a low of $1.07, with a current market capitalization of approximately $119.62 million and a trading volume of 91.55 million shares [4]