Rezolute plunges after rare disease drug fails to meet main goal in late-stage trial

Shares of drug developer Rezolute RZLT.O fall 91% to $1.04 premarket

Rezolute says its experimental drug for a rare condition that causes dangerously low blood sugar failed to meet the main goal in a late-stage trial

RZLT's drug, ersodetug, was being tested in patients with congenital hyperinsulinism, a rare disease in which beta cells in the pancreas secrete too much insulin

Rezolute plans to meet with U.S. FDA to discuss further steps

As of last close, stock had more than doubled YTD