RZLT Stock — Rezolute Inc.: Cash, EV, Pipeline

What they do

Rezolute, Inc. (“Rezolute”, the “Company”, “we” or “us”) is a late-stage rare disease company focused on developing therapies that treat refractory and debilitating hypoglycemia associated with various forms of hyperinsulinism (“HI”). Summary of Clinical Assets Ersodetug Our lead clinical asset, ersodetug, is a potential treatment for refractory hypoglycemia caused by multiple forms of hyperinsulinism.

Source: 10-K FY2026 via SEC EDGAR

Share price

$3.88

Market cap

$375.3M

Cash

$90.0M

Enterprise value

$285.3M

Balance sheet

Cash	$90.0M
Debt	$0.0M
Net cash	$90.0M
Enterprise value	$285.3M
Basic shares	96.7M shares
Fully diluted shares	120.9M shares
Fully diluted market cap	$469.3M
Cash per share	$0.93
Quarterly burn	$13.1M
Cash runway	8.2 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

96.7M

Pre-funded warrants

8.2M

Options

12.5M

RSUs

2.2M

Warrants

0.8M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

0.5M

FDSO

120.9M

Cap table as of 2026-09-21.

Price history

Loading RZLT daily closes…

Loading price history…

Next catalyst

ersodetug · Dec 1-31 · guided in 24d

Recently reported

Ersodetug Phase 3 Negative · 2026-10-05

sunRIZE · congenital hyperinsulinism

Source release →

Ersodetug Phase 3 Positive · 2026-09-24

tumor hyperinsulinism (tumor hi)

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDDec 1-31 in 24d	ersodetug upLIFT Phase 2b in tumor-HI (topline)	Phase 2b	tumor-HI ()	before end of 2026

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Ersodetug

Phase 3 · Active Modality: monoclonal antibody

Target Insulin receptor

Partnerships XOMA: license ($12M milestones paid; $25M due on regulatory approval; royalties plus up to $185M in sales milestones)

Indications

Congenital hyperinsulinism (sunRIZE Phase 3) (Phase 3)
Tumor hyperinsulinism (upLIFT Phase 3, registrational) (Phase 3)

Catalysts

— H2 2026
— H2 2026

Status note SunRIZE Phase 3 completed December 2025; FDA meeting held March 2026. upLIFT is a registrational Phase 3 for insulinoma/paraneoplastic tumor-related HI. Orphan Drug Designation (US/EU), US Breakthrough Therapy, EMA PRIME, UK ILAP Innovation Passport. Expanded access program for refractory HI patients.

RZ402 / PKI Portfolio (plasma kallikrein inhibitor)

Phase 2 · Active

Target Plasma kallikrein

Partnerships ActiveSite Pharmaceuticals: license (2% royalty on net sales; up to $42.5M in additional milestones)

Indications

Diabetic macular edema (Phase 2)

Status note RZ402 development paused after Phase 2 to focus resources on ersodetug; company exploring use of the PKI Portfolio for different indications.

Per-asset detail extracted from the 10-Q filed 2026-05-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	RZ358 (5 mg/kg)
Lead indication	Congenital Hyperinsulinism
Lead phase	Phase 3
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06881992	Phase 3	Recruiting	Sponsor	RZLT	—	Tumor Hyperinsulinism (Tumor HI)	—
NCT06208215	Phase 3	Active, not recruiting	Sponsor	RZLT	—	Congenital Hyperinsulinism	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for Rezolute on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RA Capital Management	9,445,039	+265,039	0.43%	2026-08-14
Great Point Partners	951,809	no change	1.17%	2026-08-14
Ikarian Capital	935,012	+918,533	0.80%	2026-08-14
ADAR1 Capital Management	48,679	-10,000	0.01%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

Loading headlines…

Headlines from the Fully Diluted live wire: IR newsrooms, newswires, SEC filings, and halt notices, refreshed every 15 minutes.

RZLT — Rezolute Inc. ☆