Rezolute, Inc. (RZLT) Shares Tank 90% Amid Lead Asset Trial Failure -- Hagens Berman Investigating

Core Viewpoint - Rezolute, Inc. experienced a dramatic decline in share price, dropping as much as 90% after announcing the failure of its Phase 3 sunRIZE trial for the drug ersodetug, which was intended to treat hypoglycemia caused by hyperinsulinism [1][4] Company Performance - The Phase 3 trial results indicated that the drug did not meet its primary endpoint, and the reduction in hypoglycemia events was not statistically significant compared to placebo [3] - The secondary endpoint, which assessed the change in average daily percent time in hypoglycemia, also failed to show significant results compared to placebo [3] Market Reaction - Following the announcement, Rezolute's share price plummeted, prompting analysts to downgrade the stock rating from outperform to neutral and reduce the price target from $12 to $1 [4] - The market's swift reaction reflects investor disappointment and concerns regarding the company's previous assurances about the drug's efficacy and market potential [2][4] Legal Investigation - Hagens Berman, a national shareholders rights firm, has initiated an investigation into whether Rezolute misled investors about the efficacy and commercial prospects of ersodetug [2][4] - The firm is encouraging investors who suffered losses to come forward and is seeking information from individuals who may assist in the investigation [2][5]