Rezolute slides after stock offering launch

Hanall Biopharma

13/06/2024 21:34

** Shares of biopharma co Rezolute Inc  RZLT.O  down ~16%
after hours as it seeks equity raise
    ** Rare disease-focused firm commences stock and pre-funded
warrants offering; deal size not disclosed
    ** Jefferies and Cantor are jt bookrunners
    ** Co has ~40.1 mln shares outstanding for roughly $207 mln
market cap, and ~31.8 shares of public float, LSEG data shows
    ** Last month, co said eye disease drug, RZ402, met main
goal in mid-stage study to treat patients with diabetic macular
edema, swelling in central part of the eye's retina
    ** RZLT closed down 5.8% at $5.16 on Thurs. Stock, which has
gained ~93% over the past month, ended 2023 at 99 cents

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))