F3Q26: Evidence Collection Continues For Ersodetug

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F3Q26: Evidence Collection Continues For Ersodetug

Company Report

May 13, 2026 Rezolute, Inc. (RZLT)

Rating: F3Q26: Evidence Collection Continues For ErsodetugOUTPERFORM

Price:

$3.30 The Wedbush View

12-Month Price Target:

$5.00 The F3Q26 update included no material new information after results from

expanded analyses of the Ph3 sunRIZE data were presented at the Pediatric

Analysts Endocrine Society (PES) Annual Meeting. The analyses focused on glycemic control

Yun Zhong, Ph.D. as measured by continuous glucose monitoring (CGM), and we would agree with

(917) 608-0166 management that the results showed a consistent trend of improvement across

yun.zhong@wedbush.com multiple pre-specified or post-hoc endpoints. Importantly, the baseline patient

characteristics appear to suggest that patients in the placebo group had less severe

disease, which we believe may have contributed to the higher than expectedCompany Information

Market Cap (M) $318 placebo effect. Data from the ongoing open-label extension (OLE) continue to be

Enterprise Value (M) $197 encouraging, with all 59 patients that completed sunRIZE electing to participate, 57

Shares Outst (M) 96.3 still enrolled, and ersodetug being used as monotherapy "in many instances". While

52-Week Range $1.07 - $11.46 we await the program update in 2H26 to find out the regulatory pathway forwardCash/sh $1.25

Net Debt (M) $(120.27) for ersodetug in congenital hyperinsulism (HI), the FDA's willingness to review the

data suggest the agency's potential flexibility and the unlikelihood of a request

REV (M) in $ for another Ph3 study. RZLT reported total cash of $120.3M as of 3/31/2026, and

FYE Dec 2025A 2026E 2027E the current quarterly OpEx would suggest a runway into calendar year 2028, well Q1 Mar 0.0A 0.0A 0.0E