Rezolute, Inc. (RZLT) Shares Tank 90% Amid Lead Asset Trial Failure -- Hagens Berman Investigating RZLT Investors with Losses Encouraged to Contact the Firm

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, with the reduction in hypoglycemia events not being statistically significant compared to placebo [3]. - The secondary endpoint, which assessed the change in average daily percent time in hypoglycemia via continuous glucose monitoring, was also not met [3]. Market Reaction - Following the announcement, the market reacted swiftly, leading to a significant drop in Rezolute's share price [4]. - Analysts responded by downgrading Rezolute's rating from outperform to neutral and slashing the price target from $12 to $1 [4]. Investor Concerns - Hagens Berman, a national shareholders rights firm, has initiated an investigation into whether Rezolute misled investors regarding the efficacy and commercial prospects of ersodetug [2][4]. - The firm is encouraging investors who suffered losses to come forward and assist in the investigation [2].