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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Zealand Pharma AS | TG:22Z | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.30 | -0.24% | 123.00 | 121.90 | 123.00 | 124.00 | 121.70 | 123.10 | 989 | 18:58:45 |
Company announcement - No. 39 / 2024
Zealand Pharma Announces Financial Results for the First Half of 2024
Very strong progress across R&D pipeline followed by substantial capital raise enabling further investments to accelerate the development programs for wholly owned obesity assets.
Copenhagen, Denmark, August 15, 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 six months ended June 30, 2024, and provided a corporate update.
Phenomenal first half of 2024 with impressive data in obesity followed by one of the strongest ever capital raises in Europe
Adam Steensberg, President and Chief Executive Officer at Zealand Pharma said:
“I am very pleased with our progress in the first six months of 2024 that included impressive data across the obesity portfolio. In particular, the 16-week data with petrelintide reaffirmed our conviction in our amylin analog as an alternative to GLP-1RA-based therapies with potential to become the future backbone therapy for weight management. Looking into the second half of the year, we have an important data read-out for dapiglutide and potential approvals in the US for both our rare disease programs. Backed by a very solid financial position following the extraordinary capital raise in June, we are investing significantly in our differentiated obesity candidates to accelerate the development programs as we explore partnership opportunities.”
Key financial results for H1 2024
DKK million | H1 2024 | H1 2023 |
Revenue | 49.2 | 24.0 |
Net operating expenses1 | -558.7 | -388.1 |
Net operating result | -523.5 | -364.0 |
Net financial items | -0.5 | -152.3 |
DKK million | Jun-30, 2024 | Dec-31, 2023 |
Cash position2 | 9,747.7 | 1,633.1 |
Notes:
1. Net operating expenses consist of R&D, S&M, G&A and other operating items.
2. Cash position includes cash, cash equivalents and marketable securities. Revolving Credit Facility is not included.
Highlights in the second quarter 2024
Obesity
MASH
Financial
Events after the reporting date
Type 1 diabetes
Corporate
Financial
Upcoming events in 2024
Obesity
Rare diseases
Chronic inflammation
Financial guidance for 2024
DKK million | 2024 Guidance (15 August) | 2024 Guidance (27 February) |
Revenue anticipated from existing and new license and partnership agreements | No guidance due to uncertain size and timing | No guidance due to uncertain size and timing |
Net operating expenses3 | 1,250-1,350 | 1,100-1,200 |
Notes:
3. Financial guidance based on foreign exchange rates as of August 15, 2024.
Conference call today at 2 PM CET / 8 AM ET
Zealand’s management will host a conference call today at 2:00 PM CET / 8:00 AM ET to present results through the first six months of 2024 followed by a Q&A session. Participating in the call will be Chief Executive Officer, Adam Steensberg; Chief Financial Officer, Henriette Wennicke; and Chief Medical Officer, David Kendall. The conference call will be conducted in English.
To receive telephone dial-in information and a unique personal access PIN, please register at https://register.vevent.com/register/BI317d27d63df44f09bded2febfbe6b52a. The live listen-only audio webcast of the call and accompanying slide presentation will be accessible at https://edge.media-server.com/mmc/p/ya97oe47. Participants are advised to register for the call or webcast approximately 10 minutes before the start. A recording of the event will be available following the call on the Investor section of Zealand’s website at https://www.zealandpharma.com/events/.
Financial Calendar for 2024
Q3 2024 November 7, 2024
About Zealand Pharma A/S
Zealand Pharma A/S (Nasdaq: ZEAL) (“Zealand”) is a biotechnology company focused on the discovery and development of peptide-based medicines. More than 10 drug candidates invented by Zealand have advanced into clinical development, of which two have reached the market and three candidates are in late-stage development. The company has development partnerships with a number of pharma companies as well as commercial partnerships for its marketed products.
Zealand was founded in 1998 and is headquartered in Copenhagen, Denmark, with a presence in the U.S. For more information about Zealand’s business and activities, please visit www.zealandpharma.com.
Forward-looking Statements
This company announcement and interim report contains “forward-looking statements”, as that term is defined in the Private Securities Litigation Reform Act of 1995 in the United States, as amended, even though no longer listed in the United States this is used as a definition to provide Zealand Pharma’s expectations or forecasts of future events regarding the research, development and commercialization of pharmaceutical products, the timing of the company’s pre-clinical and clinical trials and the reporting of data therefrom and the company’s Upcoming Events and Financial Guidance for 2023. These forward-looking statements may be identified by words such as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “plan,” “possible,” “potential,” “will,” “would” and other words and terms of similar meaning. You should not place undue reliance on these statements, or the scientific data presented. The reader is cautioned not to rely on these forward-looking statements. Such forward-looking statements are subject to risks, uncertainties and inaccurate assumptions, which may cause actual results to differ materially from expectations set forth herein and may cause any or all of such forward-looking statements to be incorrect, and which include, but are not limited to, unexpected costs or delays in clinical trials and other development activities due to adverse safety events or otherwise; unexpected concerns that may arise from additional data, analysis or results obtained during clinical trials; our ability to successfully market both new and existing products; changes in reimbursement rules and governmental laws and related interpretation thereof; government-mandated or market-driven price decreases for our products; introduction of competing products; production problems; unexpected growth in costs and expenses; our ability to effect the strategic reorganization of our businesses in the manner planned; failure to protect and enforce our data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; regulatory authorities may require additional information or further studies, or may reject, fail to approve or may delay approval of our drug candidates or expansion of product labeling; failure to obtain regulatory approvals in other jurisdictions; exposure to product liability and other claims; interest rate and currency exchange rate fluctuations; unexpected contract breaches or terminations; inflationary pressures on the global economy; and political uncertainty, including due to the ongoing military conflict in Ukraine. If any or all of such forward-looking statements prove to be incorrect, our actual results could differ materially and adversely from those anticipated or implied by such statements. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. All such forward-looking statements speak only as of the date of this press release/company announcement and are based on information available to Zealand Pharma as of the date of this release/announcement. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Information concerning pharmaceuticals (including compounds under development) contained within this material is not intended as advertising or medical advice.
Zealand Pharma® is a registered trademark of Zealand Pharma A/S.
Contacts:
Adam Lange
Investor Relations Officer
Zealand Pharma
Email: ALange@zealandpharma.com
Anna Krassowska, PhD
Vice President, Investor Relations & Corporate Communications
Zealand Pharma
Email: AKrassowska@zealandpharma.com
Attachment
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1 Month Zealand Pharma AS Chart |
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