Rezolute, Inc. Files 10-Q for Q2 2025

TL;DR

Rezolute 10-Q filed: Q2 FY25 financials out, shows common stock & warrant activity.

AI Summary

Rezolute, Inc. filed its 10-Q for the period ending December 31, 2024. The company, formerly known as AntriaBio, Inc., is in the pharmaceutical preparations sector. Key financial data for the quarter and year-to-date periods are presented, including information on common stock and various pre-funded warrants.

Why It Matters

This filing provides investors with an update on Rezolute's financial position and operational details for the second quarter of fiscal year 2025, crucial for understanding the company's performance and outlook.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Rezolute faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 0.25 — Common Stock (Represents a value associated with common stock for the period ending 2025-12-31.)
• 0.027 — Pre-funded Warrants (Represents a value associated with pre-funded warrants for the period ending 2025-12-31.)

Key Players & Entities

• Rezolute, Inc. (company) — Filer of the 10-Q
• AntriaBio, Inc. (company) — Former name of Rezolute, Inc.
• 20241231 (date) — End of reporting period
• 20250212 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share RZLT Nasdaq Capital Marke

Filing Documents

• rzlt-20241231x10q.htm (10-Q) — 1385KB
• rzlt-20241231xex31d1.htm (EX-31.1) — 15KB
• rzlt-20241231xex32d1.htm (EX-32.1) — 7KB
• 0001558370-25-000867.txt ( ) — 7183KB
• rzlt-20241231.xsd (EX-101.SCH) — 53KB
• rzlt-20241231_cal.xml (EX-101.CAL) — 38KB
• rzlt-20241231_def.xml (EX-101.DEF) — 222KB
• rzlt-20241231_lab.xml (EX-101.LAB) — 424KB
• rzlt-20241231_pre.xml (EX-101.PRE) — 371KB
• rzlt-20241231x10q_htm.xml (XML) — 1328KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Unaudited Condensed Consolidated Balance Sheets – as of December 31, 2024 and June 30, 2024 1 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss – Three and Six Months Ended December 31, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Shareholders' Equity – Six Months Ended December 31, 2024 and 2023 3 Unaudited Condensed Consolidated Statements of Cash Flows – Six Months Ended December 31, 2024 and 2023 4 Notes to Unaudited Condensed Consolidated Financial Statements 5

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 29

Controls and Procedures

Item 4. Controls and Procedures 29

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 30

Risk Factors

Item 1A. Risk Factors 30

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 31

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 31

Other Information

Item 5. Other Information 31

Exhibits

Item 6. Exhibits 31

Signatures

Signatures 32 i Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2024 (the "Report") contains statements reflecting assumptions, expectations, projections, intentions or beliefs about future events that are intended as "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included or incorporated by reference in this Report, other than statements of historical fact, that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. These statements appear in a number of places, including, but not limited to "Management's Discussion and Analysis of Financial Condition and Results of Operations." These statements represent our reasonable judgment of the future based on various factors and using numerous assumptions and are subject to known and unknown risks, uncertainties and other factors that could cause our actual results and financial position to differ materially from those contemplated by the statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts, and use words such as "anticipate", "believe", "estimate", "expect", "forecast", "may", "should", "plan", "project" and other words of similar meaning. In particular, these include, but are not limited to, statements relating to the following: our ability to obtain regulatory approvals for our drug candidates; expectations regarding clinical development and the timing of clinical trials in the United States and outside of the United States; projected operating or financial results, including anticipated cash flows to be used in operating activities; expectations regarding capital expenditures, research and development ("R&D") expenses and the timing of milestone payments required under license

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. Rezolute, Inc. Unaudited Condensed Consolidated Balance Sheets (In thousands, except per share amounts) December 31, June 30, 2024 2024 Assets Current assets: Cash and cash equivalents $ 8,932 $ 70,396 Investments in marketable debt securities 87,608 56,478 Prepaid expenses and other 2,154 1,779 Total current assets 98,694 128,653 Long-term assets: Investments in marketable debt securities 8,775 263 Deposits and other 2,832 1,838 Right-of-use assets 1,619 1,880 Property and equipment, net 87 103 Total assets $ 112,007 $ 132,737 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 3,149 $ 4,901 Accrued liabilities: Compensation and benefits 3,979 1,812 Accrued clinical and other 2,881 2,325 Current portion of operating lease liabilities 599 568 Total current liabilities 10,608 9,606 Long-term liabilities: Operating lease liabilities, net of current portion 1,333 1,660 Embedded derivative liability 477 468 Total liabilities 12,418 11,734 Commitments and contingencies (Notes 5, 9 and 10) Shareholders' equity: Preferred stock, $ 0.001 par value; 400 shares authorized; no shares issued — — Common stock, $ 0.001 par value; 165,000 and 100,000 shares authorized; issued and outstanding 60,535 and 53,246 shares as of December 31, 2024 and as of June 30, 2024, respectively 61 53 Additional paid-in capital 460,016 450,473 Accumulated other comprehensive income (loss) 64 ( 79 ) Accumulated deficit ( 360,552 ) ( 329,444 ) Total shareholders' equity 99,589 121,003 Total liabilities and shareholders' equity $ 112,007 $ 132,737 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 Table of Contents Rezolute, Inc. Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss (In thousands, except

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