From GlobeNewswire: 2024-05-16 01:00:00

Zealand Pharma announced strong financial results for Q1 2024, setting the stage for important data read-outs on obesity assets. Boehringer Ingelheim Phase 2 trial for survodutide in MASH yielded positive results, with a PDUFA date for glepaglutide in SBS set for December 22, 2024. Cash runway extended into 2027 through private placement.

Key financial results for Q1 2024 show revenue of DKK 15.1 million, with net operating expenses at DKK -266.3 million. Cash position increased to DKK 23,234.8 million. Private placement of shares to institutional investors provided gross proceeds of DKK 1.45 billion, extending financial runway.

In Q1 2024, Boehringer Ingelheim reported positive results from the survodutide Phase 2 trial in MASH, showing significant improvement in liver fibrosis. US FDA granted a PDUFA date of December 22, 2024 for glepaglutide in SBS. Zealand extended its cash runway through a private placement of shares.

Zealand plans to report topline results from petrelintide and dapiglutide trials in Q2 2024. As for rare diseases, PDUFA date for dasiglucagon in CHI is set for October 8, 2024. Tranche A of the EUR 90 million loan facility with the EIB was disbursed in March 2024, supporting financial position.

Upcoming events in 2024 include reporting results from multiple trials involving petrelintide, dapiglutide, and survodutide. Zealand is engaging in partnership discussions for future commercialization of rare disease treatments. Financial guidance for 2024 remains unchanged from prior update. Conference call happening today at 2 PM CET / 8 AM ET.



Read more at GlobeNewswire:: Zealand Pharma Announces Financial Results for the First