Rezolute Inc · Q4 2021 earnings

Briefing

Rezolute Inc reported financial results for the fourth quarter and full fiscal year ended June 30, 2021, showing increased operating expenses and a wider net loss.

Rezolute, a clinical-stage biopharmaceutical company, reported no revenue for Q4 fiscal 2021 as it continued development of its pipeline candidates RZ358 and RZ402. The company posted a net loss of $6.5 million or $0.78 per share, with R&D expenses rising to $4.4 million and G&A to $2.2 million. Cash and cash equivalents stood at $41.0 million at period end, supported by prior financings and a new debt facility.

• Q4 net loss widened to $6.5 million ($0.78 per share) from $3.5 million ($0.60 per share) in the prior-year quarter due to higher R&D and G&A spending.
• Full-year fiscal 2021 net loss was $20.9 million ($2.72 per share) compared to $20.3 million ($3.54 per share) in fiscal 2020.
• Cash position improved to $41.0 million as of June 30, 2021, with working capital of $40.0 million and total stockholders' equity of $26.1 million.
• Clinical progress continued with RZ358 Phase 2b enrollment and RZ402 Phase 1b initiation; topline data expected in Q1 2022 for both programs.

Headline financials

Revenue & EPS history

No specific quantitative guidance provided; company highlighted expected topline data in Q1 2022 for ongoing clinical trials.