Rezolute Appoints Seasoned Commercial Executive Sunil Karnawat as Chief Commercial Officer (Form 8-K)

Rezolute Appoints Seasoned Commercial Executive Sunil Karnawat as Chief Commercial Officer

Experienced commercial and biopharmaceuticals leader to spearhead launch strategy and global market readiness for ersodetug

REDWOOD CITY, Calif., August 20, 2025 -- Rezolute, Inc. (Nasdaq: RZLT) ("Rezolute" or the "Company"), a late-stage rare disease company focused on treating hypoglycemia caused by hyperinsulinism (HI), today announced the appointment of Sunil Karnawat as Chief Commercial Officer, effective August 18, 2025.

"We're thrilled to welcome Sunil to our leadership team at such a pivotal point as we advance ersodetug through Phase 3 studies for both congenital and tumor hyperinsulinism," said Nevan Charles Elam, Chief Executive Officer and Founder of Rezolute. "His proven track record of successfully bringing therapies to patients across multiple therapeutic areas, including four ultra-rare disease launches at Ultragenyx, speaks to both his commercial expertise and deep commitment to serving patients with high unmet need. Sunil's leadership will be instrumental as we advance toward commercialization and build a world-class commercial organization to deliver our therapy to those who need it most."

Sunil Karnawat has over 25 years of experience in global commercialization of biopharmaceuticals and medical devices. Sunil has launched products across multiple disease states, including ultra-rare bone and metabolic diseases, diabetes, obesity, and rheumatoid arthritis. Before joining the Company, he served as a Vice President at Cytokinetics and Ultragenyx. At Ultragenyx, he was responsible for leading key commercial functions in launching four ultra-rare disease products, including Crysvita with indications for X-linked Hypophosphatemia and Tumor-induced Osteomalacia. Before that, Sunil led the Market Access teams at Myriad Genetics and Vivus Pharmaceuticals. At Novo Nordisk, Sunil led Analytics and Commercial Operations teams to support the US launch of Victoza. He was a Field Sales Leader at LifeScan, a Johnson & Johnson franchise, for OneTouch blood glucose monitors. Sunil started his career at Deloitte Consulting. Sunil's education includes an MBA from the Wharton School of Business at the University of Pennsylvania, a Ph.D. and an M.S. in Engineering from North Dakota State University, and a B.E. in Civil Engineering from the College of Engineering in Pune, India.

"I am honored to join Rezolute at this exciting stage of growth," said Dr. Karnawat. "The potential of ersodetug to make a meaningful impact is truly inspiring. I look forward to working alongside this talented team to help shape long-term success and bring this important therapy to patients, families, and physicians around the world."

Inducement Grant

In connection with Dr. Karnawat's appointment, the Company's Board of Directors, upon recommendation of the Compensation Committee, approved the grant of an inducement stock option of 275,000 shares of the Company's common stock in accordance with Nasdaq Listing Rule 5635(c)(4). The option has an exercise price of $6.55 per share, which is equal to the closing price of Rezolute's common stock on August 18, 2025. The stock options will vest and become exercisable as to 25% of the underlying shares on the first anniversary of the grant date, and will vest and become exercisable as to the remaining 75% of the underlying shares in 36 equal monthly installments from the first anniversary of the grant date, subject to his continued employment with Rezolute on such vesting dates. If the Company is acquired during his employment, all remaining options will automatically vest.

About Rezolute, Inc.

Rezolute is a late-stage rare disease company focused on treating hypoglycemia caused by hyperinsulinism (HI). The Company's antibody therapy, ersodetug, is designed to treat all forms of HI and has shown meaningful benefit in clinical trials and real-world use for the treatment of both congenital and tumor HI. For more information, visit www.rezolutebio.com.