# Rezolute, Inc. (RZLT)

> Source: Nexqual · https://nexqual.com/RZLT · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Rezolute, Inc. (RZLT), nexqual.com/RZLT" · informational, not investment advice.

**Price:** USD 4.22 (+2.68% on the day) · last close of Oct 28, 2026; US market closed, not a live price. Prev close 4.11 · day 4.02–4.24 · 52w 1.07–11.46 · market cap $408M · NCM

## Key facts
- Analysts: Buy (mean 1.82 on a 1–5 scale) (11 analysts), mean target USD 9.8 (range 6–15).
- Total return with dividends: 1Y -56.9% vs S&P 500 +13.2%; 5Y -34.1% vs S&P 500 +79.8%.
- Next earnings: 2026-11-05, EPS estimate USD -0.19, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Operating income | -$41.8M | -$56.0M | -$70.4M | -$79.9M | -$83.0M | -$83.0M |
| Net income | -$41.1M | -$51.8M | -$68.5M | -$74.4M | -$77.6M | -$77.6M |
| EPS (diluted) | -$2.32 | -$1.01 | -$1.33 | -$0.98 | -$0.75 | — |
| Free cash flow | — | -$44.6M | — | — | — | — |
| Cash + short-term investments | $150M | $102M | $127M | $168M | $108M | — |
Fiscal years end Jun. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 4.0x · Earnings yield -19.01%

## Analysts
Consensus Buy (mean 1.82 on a 1–5 scale), 11 analysts; mean target USD 9.8 (low 6, high 15).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-06 | Lake Street | Target raised | Buy | $9 → $12 |
| 2026-10-06 | Citizens | Target raised | Market Outperform | $11 → $15 |
| 2026-10-06 | Cantor Fitzgerald | Upgrade | Neutral → Overweight |  |
| 2026-09-30 | Lake Street | Initiated | Buy | $9 |
| 2026-09-29 | Craig-Hallum | Upgrade | Hold → Buy | $4 → $7 |
| 2026-09-25 | HC Wainwright & Co. | Target raised | Buy | $5 → $10 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -56.9% | -34.1% |
| S&P 500 (SPY) | +13.2% | +79.8% |
| Per year | -57.1% | -8.0% |
| Volatility (annualized) | 225.8% | 118.4% |
| Max drawdown | -87.2% (Dec 2025→Dec 2025) | -88.3% (Nov 2021→Nov 2023) |

## Peers (Biotechnology)
ORKA (Oruka Therapeutics, Inc.) USD 95.97 +0.17% · LGND (Ligand Pharmaceuticals Incorpor) USD 318.78 +2.26% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.81 +1.58% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.9 +2.14% · AXSM (Axsome Therapeutics, Inc.) USD 143.51 +0.92% · ABVX (Abivax SA) USD 89.84 +3.26%

## More
Full page: https://nexqual.com/RZLT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in RZLT's own 10-K filed 2026-09-24 (https://www.sec.gov/Archives/edgar/data/1509261/000110465926110420/rzlt-20260630x10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | ActiveSite Pharmaceuticals | "Our most significant long-term contractual obligations consist of $25.0 million payable upon regulatory approval for ersodetug by any regulatory authority under the Ersodetug Licensing Agreement (as defined below), and a…" |

## Company outlook (8-K filed 2026-09-24)

- "Enrollment is in progress and topline results are expected before the end of 2026. ·"

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.18 | $-0.15 | −$0.04 | $0 | 8 |
| Next quarter (ends 2026-12-31) | $-0.17 | $-0.13 | −$0.04 | $0 | 8 |
| Current fiscal year (ends 2027-06-30) | $-0.70 | $-0.63 | −$0.07 | $2.1M | 9 |
| Next fiscal year (ends 2028-06-30) | $-0.47 | $-0.28 | −$0.19 | $54.1M | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±31.7%; last 8 reports averaged ±6.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 23 | 108.7% | ±31.7% |
| 2027-01-15 | 79 | 132.8% | ±55.0% |
| 2027-04-16 | 170 | 151.9% | ±87.2% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Sep 24, 2026 | Quarter ended Jun 30, 2026 | −$0.20 | −$0.14 | Miss −42.9% | -2.5% |
| May 12, 2026 | Quarter ended Mar 31, 2026 | — | — | — | +5.0% |
| Feb 12, 2026 | Quarter ended Dec 31, 2025 | −$0.22 | −$0.18 | Miss −22.2% | +13.9% |
| Nov 6, 2025 | Quarter ended Sep 30, 2025 | −$0.18 | −$0.26 | Beat +30.8% | +15.1% |
| Sep 17, 2025 | — | — | — | — | +6.2% |
| May 13, 2025 | — | — | — | — | -6.4% |
| Feb 12, 2025 | — | — | — | — | +0.6% |
| Nov 7, 2024 | — | — | — | — | -4.0% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-28 | Schedule 13G | Jennison Associates LLC: 5.5% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1509261/000005341726000065/0000053417-26-000065-index.htm |
| 2026-10-21 | DEF 14A | Proxy statement (pay, board, votes) · period ended Dec 2, 2026 | https://www.sec.gov/Archives/edgar/data/1509261/000110465926117868/0001104659-26-117868-index.htm |
| 2026-10-14 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/1509261/000110465926115874/0001104659-26-115874-index.htm |
| 2026-10-05 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/1509261/000110465926113503/0001104659-26-113503-index.htm |
| 2026-09-24 | 10-K | Annual report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1509261/000110465926110420/0001104659-26-110420-index.htm |
| 2026-09-24 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1509261/000110465926110412/0001104659-26-110412-index.htm |
| 2026-08-14 | Schedule 13G/A | BALYASNY ASSET MANAGEMENT L.P., BAM GP LLC: 4.8% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1509261/000117266126003436/0001172661-26-003436-index.htm |
| 2026-08-12 | Schedule 13G/A | BANK OF AMERICA CORP /DE/: 1.2% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1509261/000007085826000432/0000070858-26-000432-index.htm |
| 2026-08-12 | Schedule 13G | Dellora Investments Master Fund LP, Dellora Investments LP: 5.9% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1509261/000194346226000006/0001943462-26-000006-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.