Rezolute, Inc. (NASDAQ: RZLT) has been turning heads in today’s pre-market session, delivering a staggering 53.8% growth for the stock. In fact, RZLT has been a big winner for investors since Monday last week, delivering an over 60% gain since. The biopharmaceutical stock has been on a massive bearish slide for the last few years, depleting value for its shareholders. The current performance brings bullish sentiments to RZLT, following positive news from a recent conducted study on a Rezolute candidate. The news comes as a breakthrough for investors, with bulls driving up RZLT price to get hold of the stock.
Positive Results for RZLT from Phase 2B Study
Rezolute today announced the results of a critical phase 2B study of its candidate RZ358, targeting congenital hyperinsulinism. The condition leads to an excess of insulin in patients, which subsequently leads to critically low levels of blood sugar.
The results from the study showed a high standard of safety is met where the treatment was administered to subjects. This eases the main concern that is typically associated with pharmaceutical clinical trials of this nature, raising investor optimism. In addition to the treatment’s high safety standard established, the efficacy of the treatment has also delivered positive news. The administering of RZ538 has also led to a “significant improvement” amongst candidates suffering from varying degrees of hypoglycemia.
Growth Prospects for RZLT
The positive results bring a fresh wave of optimism to investors of RZLT, showcasing the value-generating potential the company holds. The results further give a green light for the RZ358 candidate to proceed on towards phase 3 trial and testing. Investors are clearly anticipating the candidate to see through till successful completion. Pushing up to the third phase of pharmaceutical clinical trials substantially lowers the risk of failure, whilst vastly enhancing the probability of seeing a successful launch.
RZ358 success would be a major breakthrough in the medical world, given the limited treatment options available for Congenital Hyperinsulinism. Investors taking long positions, betting on the candidate’s success anticipate a future explosion in RZLT price.
RZLT has been undergoing significant growth in the pre-market today, following the announcement of positive test results. Its candidate, RZ358, classifies safe for patient use, as well as significant in reducing levels of hypoglycemia. This gives the candidate a green light to progress onto phase 3 trials. Investors anticipate success and a future explosion in share price.