Zealand Pharma Announces Financial Results for the First Nine Months of 2024
Company announcement, No. 49 / 2024
Zealand Pharma Announces Financial Results for the First Nine Months of 2024
Continued strong progress across obesity pipeline with proprietary assets ready for Phase 2 backed by a solid financial position.
Presented extremely encouraging weight loss and tolerability data with long-acting amylin analog petrelintide from MAD Part 2 (16-week trial) at ObesityWeek 2024
Announced positive topline results with GLP-1R/GLP-2R dual agonist dapiglutide from Part 1 of Phase 1b trial (13-week trial)
Boehringer Ingelheim announced US FDA Breakthrough Therapy Designation and advancement to two large Phase 3 trials for survodutide in MASH
Copenhagen, Denmark, November 7, 2024, Zealand Pharma A/S (NASDAQ:ZEAL) (CVR-no. 20045078), a biotechnology company focused on the discovery and development of innovative peptide-based medicines, today announced the interim report for the nine months ended September 30, 2024, and provided a corporate update.
Building momentum into 2025 following impressive data across obesity portfolio
Adam Steensberg, President and Chief Executive Officer at Zealand Pharma said:
"I am excited about the impressive data and continued clinical advancement across our portfolio of differentiated obesity candidates that recently included very encouraging topline data with dapiglutide, advancement by Boehringer Ingelheim of survodutide into an ambitious Phase 3 program in MASH, and of course the presentation of data with our potentially best-in-class amylin analog petrelintide. With petrelintide specifically, I believe we have a unique opportunity to develop an alternative to GLP-1RA-based therapies that could become the future foundational therapy for weight management. We look forward to initiating a large, comprehensive Phase 2b trial very soon and are now exploring collaboration opportunities with potential partners."
Key financial results for Q3 2024 year-to-date
DKK million
Q3-24YTD
Q3-23YTD
Revenue
53.6
319.6
Net operating expenses1
-919.1
-633.2
Net operating result
-872.9
-318.8
Net financial items
81.1
-124.8
DKK million
Sep-30,2024
Dec-31,2023
Cash position2
9,195.3
1,633.1
Notes:
Net operating expenses consist of R&D, S&M, G&A and other operating items.
Cash position includes cash, cash equivalents and marketable securities.
Highlights in the third quarter of 2024
Obesity
Dapiglutide, GLP-1/GLP-2 receptor dual agonist: Reported positive topline data from Part 1 of the Phase 1b dose titration trial. Topline results showed placebo-adjusted reductions in body weight of up to a mean of 8.3% with dapiglutide after 13 weekly doses. 85% of the 54 trial participants were male and median BMI at baseline was 30 kg/m2. Dapiglutide treatment with doses up to 13 mg ...