Rezolute, Inc. RZLT
Rezolute, Inc. ("Rezolute", the "Company", "we" or "us") is a late-stage rare disease company focused on significantly improving outcomes for individuals with hypoglycemia caused by hyperinsulinism ("HI").
Our lead clinical asset, ersodetug, is a potential treatment for hypoglycemia caused by multiple forms of hyperinsulinism.
Ersodetug is an intravenously administered human monoclonal antibody that binds to a unique site (allosteric) on the insulin receptor in insulin target tissues, such as in the liver, fat, and muscle. The antibody down modulates insulin's binding, signaling, and action thereby counteracting the effects of elevated insulin in the body, and helping to restore glucose to a more normalized range. Ersodetug shows dose dependent pharmacokinetics with a half-life greater than 2 weeks, which has the potential for monthly dosing. Therefore, we believe that ersodetug is ideally suited as a potential therapy for conditions characterized by excessive insulin or insulin-like levels, and it is being developed to treat hyperinsulinism. As ersodetug acts downstream from beta cells, it has the potential to be universally effective at treating hypoglycemia related to HI, whether genetic or acquired.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| R&D | $61.5M | $55.7M | $43.8M | $32.5M | $15.0M | $14.4M | $19.1M | $17.3M | $12.1M | $9.4M |
| SG&A | $18.4M | $14.7M | $12.2M | $9.4M | $7.9M | $6.1M | $6.9M | $9.1M | $8.2M | $5.5M |
| Total operating expenses | $79.9M | $70.4M | $56.0M | $41.8M | $22.9M | $20.5M | $25.9M | $28.7M | $20.3M | $15.0M |
| Operating income | -$79.9M | -$70.4M | -$56.0M | -$41.8M | -$22.9M | -$20.5M | -$25.9M | -$28.7M | -$20.3M | -$15.0M |
| Interest expense | — | — | — | — | $375.0K | $0 | $5.0M | $689.0K | $1.6K | $5.0K |
| Pre-tax income | -$74.4M | -$68.5M | -$51.8M | -$41.1M | -$20.9M | -$20.3M | -$30.4M | -$29.9M | -$20.3M | -$14.9M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$74.4M | -$68.5M | -$51.8M | -$41.1M | -$20.9M | -$20.3M | -$30.4M | -$29.9M | -$20.3M | -$14.9M |
| EPS, basic | -0.98 | -1.33 | -1.01 | -2.26 | -2.72 | — | — | — | — | — |
| EPS, diluted | -0.98 | -1.33 | -1.01 | -2.32 | -2.72 | -3.54 | -18.41 | -0.54 | -0.57 | -0.84 |
| Shares, diluted (wtd. avg.) | 76.0M | 51.5M | 51.2M | 19.5M | 7.7M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $94.1M | $70.4M | $16.0M | $150.4M | $41.0M | $10.0M | $11.6M | $11.6M | $4.5M | — |
| Short-term investments | $73.8M | $56.5M | $85.9M | — | — | — | — | — | — | — |
| Total current assets | $171.1M | $128.7M | $104.9M | $152.1M | $42.0M | $10.5M | $12.1M | $2.0M | $4.9M | $4.5M |
| Property, plant and equipment | $72.0K | $103.0K | $139.0K | $16.0K | $29.0K | $33.0K | $44.0K | $368.0K | $5.3M | $6.0M |
| Other intangibles | — | — | — | — | — | $0 | $29.0K | $37.0K | $44.3K | $51.6K |
| Total assets | $175.5M | $132.7M | $123.7M | $152.4M | $42.6M | $11.0M | $12.3M | $2.5M | $10.6M | $10.9M |
| Accounts payable | $5.8M | $4.9M | $3.3M | $1.1M | $1.0M | $893.0K | $563.0K | $1.9M | $951.2K | $1.5M |
| Total current liabilities | $11.9M | $9.6M | $5.2M | $2.5M | $2.0M | $3.2M | $8.4M | $6.2M | $1.8M | $1.7M |
| Long-term debt | — | — | — | — | $14.0M | $0 | $0 | $3.4M | — | — |
| Total liabilities | $13.4M | $11.7M | $7.5M | $2.9M | $16.5M | $3.6M | $10.5M | $6.5M | $2.1M | $2.1M |
| Retained earnings | -$403.9M | -$329.4M | -$261.0M | -$209.2M | -$168.1M | -$147.2M | -$126.9M | -$94.2M | -$64.3M | -$44.0M |
| Total equity | $162.1M | $121.0M | $116.2M | $149.5M | $26.1M | $7.4M | $1.8M | -$4.0M | $8.5M | $8.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$69.1M | -$57.4M | -$44.5M | -$39.6M | -$20.4M | -$24.2M | -$15.3M | -$14.1M | -$13.3M | -$10.5M |
| Depreciation and amortisation | $31.0K | $36.0K | $30.0K | $13.0K | $13.0K | $11.0K | $41.0K | $1.1M | $1.1M | $744.0K |
| Stock-based compensation | $7.1M | $7.4M | $7.3M | $3.7M | $4.0M | $3.3M | $2.6M | $5.1M | $6.0M | $3.8M |
| Capital expenditure | — | — | $153.0K | — | — | $0 | $47.0K | $6.0K | — | — |
| Investing cash flow | -$14.5M | $48.7M | -$101.5M | — | $0 | $0 | $231.0K | $1.7M | -$195.4K | -$1.5M |
| Financing cash flow | $107.3M | $63.0M | $11.6M | $149.0M | $51.5M | $22.6M | $25.0M | $9.5M | $13.9M | $10.7M |
| Buybacks | — | $3.0K | — | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-25-090848.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$14.9M | -$20.3M | -$29.9M | -$30.4M | -$20.3M | -$20.9M | -$41.1M | -$51.8M | -$68.5M | -$74.4M |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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