Rezolute, Inc.

Listed Company

RZLTCIK 0001509261NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsNevadaFY ends Jun 30

Period

FY 2025

Revenue

—

Net Income

$-74.40M

Total Assets

$175.49M

Equity

$162.13M

Shares Out

95.70M

Op. Cash Flow

$-69.10M

Business

Rezolute, Inc. is a late-stage rare disease company focused on improving outcomes for individuals with hypoglycemia caused by hyperinsulinism. It develops ersodetug, an intravenously administered human monoclonal antibody that allosterically binds the insulin receptor to down-modulate insulin binding, signaling and action, and operates an expanded access program for severely affected patients. The company’s operations center on clinical development programs, regulatory interactions and intellectual property management, including pivotal Phase 3 studies for congenital and tumor hyperinsulinism. Rezolute conducts global clinical trials and makes investigational therapy available through clinical sites, expanded access requests and regulatory channels across the U.S., EU, UK and other countries.

Summary from filing dated 2025-09-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Research and development	62	56	44	32	15
General and administrative	18	15	12	9	8
Total operating expenses	80	70	56	42	23
Operating loss	−80	−70	−56	−42	−23
Interest and other income, net	5	5	4	80,000	63,000
Total non-operating income (expense), net	5	2	4	783,000	2
Net loss	−74	−68	−52	−41	−21
Net unrealized gain on marketable debt securities	72,000	272,000	−351,000	—	—
Comprehensive loss	−74	−68	−52	−41	—
Net loss per common share - basic (in dollars per share)	−0.98	−1.33	−1.01	−2.26	−2.72
Net loss per common share - diluted (in dollars per share)	−0.98	−1.33	−1.01	−2.32	−2.72
Weighted average number of common shares outstanding - basic (in shares)	76	51	51	18	8
Weighted average number of common shares outstanding - diluted (in shares)	76	51	51	19	8

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	94	70	16	150	41
Investments in marketable debt securities	74	56	86	—	—
Prepaid expenses and other	3	2	3	2	946,000
Total current assets	171	129	105	152	42
Deposits and other	3	2	148,000	148,000	191,000
Right-of-use assets	1	2	2	152,000	396,000
Property and equipment, net	72,000	103,000	139,000	16,000	29,000
Investments in marketable debt securities	—	263,000	16	—	—
Total assets	175	133	124	152	43
Accounts payable	6	5	3	1	1
Accrued clinical and other	3	2	507,000	1	—
Compensation and benefits	2	2	883,000	—	77,000
Current portion of operating lease liabilities	632,000	568,000	541,000	108,000	265,000
Total current liabilities	12	10	5	2	2
Operating lease liabilities, net of current portion	983,000	2	2	80,000	187,000
Embedded derivative liability	468,000	468,000	412,000	407,000	387,000
Total liabilities	13	12	8	3	17
Commitments and contingencies (Notes 5, 10 and 11)	—	—	—	—	—
Preferred stock, $0.001 par value; 400,000 shares authorized; no shares issued	—	—	—	—	—
Common stock, $0.001 par value; 165,000,000 and 100,000,000 shares authorized; issued and outstanding 86,995,985 and 53,245,824 shares as of June 30, 2025 and 2024, respectively	87,000	53,000	37,000	34,000	8,000
Additional paid-in capital	566	450	377	359	194
Accumulated other comprehensive loss	−7,000	−79,000	−351,000	—	—
Accumulated deficit	−404	−329	−261	−209	−168
Total shareholders' equity	162	121	116	149	26
Total liabilities and shareholders' equity	175	133	124	152	43

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net loss	−74	−68	−52	−41	−21
Share-based compensation expense	7	7	7	4	4
Non-cash lease expense	532,000	526,000	352,000	243,000	290,000
Accretion of discounts and amortization of premiums on marketable debt securities, net	−2	−3	−1	—	—
Depreciation expense	31,000	36,000	30,000	13,000	13,000
Increase in prepaid expenses, deposits, and other assets	−2	−129,000	−1	−860,000	−387,000
Increase in accounts payable	1	1	2	−11,000	142,000
Increase in accrued liabilities	721,000	2	205,000	229,000	—
Net Cash Used in Operating Activities	−69	−57	−44	−40	−20
Purchase of marketable debt securities	−128	−66	−107	—	—
Proceeds from maturities of marketable debt securities	114	115	6	—	—
Net Cash Provided by (Used in) Investing Activities	−15	49	−101	—	0
Proceeds from exercise of stock options	893,000	234,000	—	—	—
Net cash payment pursuant to Exchange Agreement	—	−3,000	—	—	—
Payment of offering costs	−1	−315,000	—	—	−4
Net Cash Provided by Financing Activities	107	63	12	149	52
Net increase in cash and cash equivalents	24	54	−134	109	31
Cash paid for amounts included in the measurement of operating lease liabilities	748,000	728,000	215,000	254,000	299,000
Operating lease liabilities incurred in exchange for right-of-use-assets	—	352,000	2	—	302,000
Acquisition of treasury shares in exchange for issuing pre-funded warrant liability	—	6	—	—	—
Receivable from exercise of stock options	503,000	12,000	—	—	—
Payable for offering costs charged to additional paid-in capital	35,000	548,000	—	—	—

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