Rezolute initiated with a Buy at BTIG

BTIG initiated coverage of Rezolute with a Buy rating and $13 price target. The analyst sees an “attractive disconnect” between the company’s three shots on goal and where the shares currently trade. Efforts to address an FDA-implemented partial clinical hold on the ongoing Phase 3 study of RZ358 in congenital hyperinsulinism are underway, with new safety data and renewed determination, the analyst tells investors in a research note. The firm thinks there is a good chance the FDA capitulates, which could allow pediatric enrollment in the US if the partial hold is lifted by September, and more importantly, signal that RZ358’s eventual label could include pediatric patients. BTIG says RZ358 is the only therapeutic it is aware of that is being developed for all forms of hyperinsulinism.