We recently published an article titled 13 Best Multibagger Stocks to Invest in Now. Rezolute, Inc. (NASDAQ:RZLT) was one of the stocks that was covered in that article. Wall Street analysts believe RZLT has a 260% upside potential over the next 12 months.
A scientist observing a microscope in a cutting edge biotechnology laboratory.
Rezolute, Inc. (NASDAQ:RZLT) is a late-stage biopharmaceutical company focused on addressing rare diseases, particularly those involving hypoglycaemia caused by hyperinsulinism. Incorporated in 2010 and originally known as AntriaBio, Inc., it officially changed its name to Rezolute, Inc. in 2017.
Rezolute’s main product candidate, ersodetug (formerly known as RZ358), is a treatment for congenital hyperinsulinism (cHI), a rare genetic disorder in children, and is currently in Phase 3 clinical trials. The company is also working on RZ402, a pill that targets diabetic macular edema (DME), which is now undergoing Phase 2 testing.
Rezolute, Inc.’s (NASDAQ:RZLT) unique value proposition lies in its development of ersodetug, a promising therapeutic option that aims to address rare diseases such as congenital hyperinsulinism. Unlike competitors who focus primarily on inhibiting insulin secretion, Rezolute’s approach offers a potentially universal solution for these complex conditions. This strategic differentiation is further bolstered by regulatory advantages, including Orphan Drug and Rare Pediatric Disease designations, which underline its commitment to addressing unmet medical needs.
Building on this momentum, Rezolute recently achieved a significant milestone when its Chief Medical Officer, Brian Roberts, announced the Independent Data Monitoring Committee’s (DMC) favorable recommendation for continuing the Phase 3 sunRIZE study as planned. Roberts expressed optimism, stating:
“We are thrilled with the DMC’s favorable recommendation, which appears to validate our initial assumptions for the design and powering of the Phase 3 sunRIZE study.”
In terms of the company’s financial standing, Rezolute has secured $120 million in financing, ensuring robust support for the late-stage development of RZ358, its lead candidate for congenital hyperinsulinism. This financial strength underscores its readiness to advance research and development efforts. With 70% of analysts assigning a buy rating to the stock and a consensus average price target of $13.44 for the next twelve months, Rezolute presents an upside potential of 260.32%.
Overall, Rezolute, Inc. (NASDAQ:RZLT) ranks 11th on our list of 13 Best Multibagger Stocks to Invest in Now. While we acknowledge the potential of RZLT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RZLT and that has 100x upside potential, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.