By Chris Wack
Rezolute shares were up 29%, to $4, after the company said an independent data monitoring committee recommended the continuation of a Phase 3 Ersodetug study in patients with congenital hyperinsulinism without an increase in the study sample size.
The biopharmaceutical company said it expects to complete enrollment next month, with topline results anticipated in December.
The interim analysis of the Phase 3 study was based on a pre-specified analysis of the primary study endpoint--hypoglycemia events--after half of enrolled patients completed the primary assessments.
Rezolute said the analysis was intended to evaluate for study a potential sample size increase, for purposes of optimizing the study power and statistical confidence in the final analysis outcomes.
Rezolute also said an underwritten offering of 20.8 million shares priced at $3.25 a share. Pre-funded warrants to buy up to 6.9 million shares priced at $3.249 per pre-funded warrant. Proceeds from the underwritten offering before deducting underwriting discounts and commissions and other offering expenses are expected to be $90 million.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
April 23, 2025 10:44 ET (14:44 GMT)
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