Half Year 2024 Zealand Pharma A/S Earnings Call Transcript
Key Points
- Zealand Pharma A/S (ZLDPF) reported positive top-line data from the Phase 1b trial of petrelintide, showing significant weight loss and a favorable tolerability profile.
- The company successfully raised DKK7 billion in an oversubscribed equity offering, strengthening its financial position.
- Partnership discussions for Dasiglucagon in congenital hyperinsulinism and Glepaglutide in short bowel syndrome are progressing well.
- Zealand Pharma A/S (ZLDPF) has initiated dialogues with potential partners for petrelintide, aiming to find a committed partner for its development.
- The company has a strong pipeline with multiple promising assets, including survodutide and dapiglutide, showing positive results in clinical trials.
- Operating expenses for the first six months of 2024 were high at DKK559 million, driven primarily by research and development costs.
- The company faces significant competition in the obesity treatment market, particularly from GLP-1-based therapies.
- There is a high dropout rate for obesity treatments, with up to 30% of patients discontinuing within the first month due to tolerability issues.
- Zealand Pharma A/S (ZLDPF) needs to secure a commercial partnership to maximize the long-term value of its assets, which may pose a challenge.
- The company is heavily reliant on the success of its obesity programs, which are still in the early stages of clinical development.
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Welcome, and thank you for joining us today to discuss Zealand's results for the first six months of 2024. With me today are the following members of Zealand's management team. Adam Steensberg, President and Chief Executive Officer; Henriette Wennicke, Chief Financial Officer; and David Kendall, Chief Medical Officer.
You can also find the related company announcement and report on our website at zealandpharma.com. As described on slide 2, I caution listeners that we will be making forward-looking statements that are subject to risks and uncertainties. Moving to slide 3, I will turn the call over to Adam Steensberg, President and CEO. Adam?
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Thank you, Anna, and thanks to everyone for joining today. I'm very satisfied with our progress in the first six months
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