In This Article:
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Revenue: DKK63 million for the full year 2024, primarily from the license and development agreement with Novo Nordisk for Zegalogue.
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Net Operating Expenses: DKK1.33 billion, within the guidance range of DKK1.25 billion to DKK1.35 billion.
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R&D Expenses: DKK920 million, representing 69% of operating expenses, driven by clinical advancement of obesity assets.
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Selling and Marketing Expenses: DKK88 million, mainly for pre-commercial activities for rare disease assets.
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Net Financial Items: Net gain of DKK189 million, compared to a net loss of DKK137 million in 2023, due to interest income from marketable securities.
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Cash Position: DKK9 billion as of December 31, 2024, an increase of DKK7.4 billion from the start of the year.
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2025 Operating Expenses Guidance: Expected to be between DKK2.0 billion and DKK2.5 billion, to support mid-stage obesity pipeline and early-stage research efforts.
Release Date: February 20, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Zealand Pharma AS (ZLDPF) reported significant clinical advancements in their obesity pipeline, particularly with petrelintide and survodutide.
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The company has a strong cash position of DKK9 billion, which is DKK7.4 billion higher than the previous year, enabling further investment in R&D.
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Enrollment for the ZUPREME-1 Phase 2b trial with petrelintide has been faster than anticipated, indicating strong interest and progress.
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Zealand Pharma AS (ZLDPF) is committed to advancing its rare disease programs, including congenital hyperinsulinism and short bowel syndrome.
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The company has launched a dedicated sustainability strategy, focusing on responsible operations and reducing greenhouse gas emissions.
Negative Points
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GLP-1-based therapies, a focus area for Zealand Pharma AS (ZLDPF), are associated with gastrointestinal adverse events, leading to high discontinuation rates.
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The company received a complete response letter from the US FDA for glepaglutide, requiring an additional Phase 3 trial for approval.
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Operating expenses are expected to significantly increase in 2025, ranging from DKK2.0 billion to DKK2.5 billion, due to expanded R&D efforts.
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There is uncertainty regarding the timing of partnerships for petrelintide, with no specific guidance provided.
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The company faces challenges in the competitive obesity market, with the need for differentiation in their treatment options.
Q & A Highlights
Q: Can you confirm if more data is needed for petrelintide partnerships, and how important is it to retain co-promotion rights in the US and/or Europe? A: Adam Steensberg, CEO, stated that they are not waiting for additional data for petrelintide partnerships. The focus is on finding a large pharma partner with a shared vision for petrelintide as a foundational therapy. Co-development and co-commercialization with profit share are important, rather than just a licensing agreement.