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

Share price

$3.84

Market cap

$369.8M

Cash

$120.3M

Enterprise value

$249.5M

Balance sheet

Cash	$120.3M
Debt	$0.0M
Net cash	$120.3M
Enterprise value	$249.5M
Basic shares	96.3M shares
Fully diluted shares	115.6M shares
Fully diluted market cap	$444.0M
Cash per share	$1.25

Cash figures as of 2026-03-31. Database snapshot: 2026-09-21.

Price history

Loading RZLT daily closes…

Loading price history…

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Oct 13 - Nov 24	Ersodetug	Phase 3	Tumor Hyperinsulinism (Tumor HI)	—

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	Ersodetug
Lead indication	Tumor Hyperinsulinism (Tumor HI)
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

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Ikarian Capital	935,012	+918,533	0.80%	2026-08-14
ADAR1 Capital Management	48,679	-10,000	0.01%	2026-08-14

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

RZLT — Rezolute Inc.