Zealand Pharma Announces Financial Results for the First Half of 2025

Core Insights - Zealand Pharma reported strong financial results for the first half of 2025, with revenue reaching DKK 9,096 million compared to DKK 49 million in the same period last year, indicating significant growth [4] - The collaboration with Roche on petrelintide is progressing well, with expectations for further updates at upcoming corporate events [6][7] - The company is well-positioned for future growth with key leadership appointments and a solid cash position of DKK 16,578 million as of June 30, 2025 [5][13] Financial Performance - Revenue for H1 2025 was DKK 9,096 million, a substantial increase from DKK 49 million in H1 2024 [4] - Operating expenses for H1 2025 were DKK 968 million, up from DKK 559 million in H1 2024, primarily due to increased R&D and transaction-related costs [4][5] - The operating result for H1 2025 was DKK 8,128 million, compared to a loss of DKK 524 million in H1 2024 [4] Collaboration and Development - Zealand Pharma's collaboration with Roche involves co-developing petrelintide, with a total deal consideration of USD 5.3 billion, including upfront cash payments of USD 1.65 billion [8] - The petrelintide program is advancing with Phase 2 trials progressing towards key milestones, and Roche is establishing a new manufacturing facility for obesity medicines [7] - Zealand Pharma submitted a Marketing Authorization Application for glepaglutide in June 2025, with potential regulatory approval expected in the first half of 2026 [9][22] Leadership and Strategic Direction - The company appointed Utpal Singh as Chief Scientific Officer and Steven Johnson as Chief Development Officer to enhance its innovation and development strategies [13] - Zealand Pharma is preparing for a Capital Markets Day in December 2025 to discuss future growth and strategies [17] Upcoming Milestones - Zealand Pharma expects to report topline results from the Phase 2 ZUPREME-1 trial and complete the Phase 2 ZUPREME-2 trial with petrelintide in the first half of 2026 [13] - The company anticipates initiating a Phase 2 trial for dapiglutide in the second half of 2025 [12]