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Zealand Pharma A/S (NASDAQ: ZEAL) announced share transactions involving managerial personnel and closely associated individuals. This release states that relevant transactions have been conducted in Zealand's shares or related securities, consistent with corporate governance. The company, based in Copenhagen and Boston, specializes in peptide-based medicines, with two products on the market and a robust pipeline. Zealand recently received FDA approval for Zegalogue, the first glucagon analogue for severe hypoglycemia in diabetes patients.
Zealand Pharma reported its Q1 2021 results, highlighted by the FDA's approval of Zegalogue® (dasiglucagon) for severe hypoglycemia in diabetes patients aged 6 and above. Revenue reached DKK 47.8 million (USD 7.5 million), a significant increase from DKK 12.4 million in Q1 2020. However, net operating expenses rose to DKK -284.8 million (USD -44.9 million), compared to DKK -189.7 million in the same period last year. With a cash position of DKK 1,604.1 million as of March 31, 2021, the company prepares for Zegalogue's launch in late June 2021.
Zealand Pharma has launched a long-term incentive program for its executive management and employees as part of its strategy for 2021. This program includes 61,920 restricted stock units (RSUs) and 185,762 performance stock units (PSUs) aimed at aligning employee interests with shareholder goals. The RSUs vest over three years, while PSUs depend on meeting specific operational and market-based performance targets, vesting at 0-150%. The total estimated value of the share-based remuneration is DKK 105.4 million. Importantly, the program will not dilute existing shareholder value as treasury shares will be utilized.
Zealand Pharma is set to host a conference call on May 12, 2021, at 4 PM CET (10 AM ET). The call will discuss the company’s first quarter results for 2021. Key executives, including President Emmanuel Dulac and CFO Matt Dallas, will present and engage in a Q&A session. Participants can join via various international dial-in numbers or a live audio webcast accessible on the Investor section of Zealand’s website. Zealand Pharma, listed on Nasdaq: ZEAL, specializes in peptide-based medicines for metabolic and gastrointestinal diseases.
Zealand Pharma (NASDAQ: ZEAL) has disclosed transactions involving its shares conducted by individuals in managerial positions. The announcement highlights ongoing activities surrounding Zealand's innovative peptide-based therapies, including V-Go® and Zegalogue®.
With a pipeline of over 10 drug candidates, including three in late-stage development, the company is positioning itself for potential growth. The company emphasizes its collaborations with major pharmaceutical entities, bolstering its capacity to bring effective treatments to market.
Zealand Pharma has announced the publication of its Phase 3 trial results for dasiglucagon, aimed at treating severe hypoglycemia in adults with diabetes. The trial involved 170 participants and showed that dasiglucagon led to a median recovery time of just 10 minutes, with 99% of participants recovering within 15 minutes. Results also indicated significant superiority over placebo (40 minutes). Despite a few adverse events like nausea and headache, the study underscores dasiglucagon's potential as a crucial option for hypoglycemia treatment.
Zealand Pharma (Nasdaq: ZEAL) announced the total number of shares and voting rights as of April 30, 2021. Following an increase in share capital from employee warrant exercises, the company now has 43,449,842 shares and corresponding voting rights. This update is a standard requirement under the Danish Capital Markets Act, which mandates disclosures following changes in share capital. Zealand focuses on peptide-based medicines for metabolic and gastrointestinal diseases, with significant ongoing clinical development activities.
Zealand Pharma has introduced a new long-term incentive program granting 40,500 restricted stock units (RSUs) to its Board of Directors as per the company's Remuneration Policy established on April 15, 2021. The RSUs will vest at the annual general meeting in 2022, with a maximum of 8,000 RSUs per member valued at DKK 2.4 million. The estimated total value of the RSUs is DKK 8.3 million, based on a fair value of DKK 205 per RSU. This initiative aims to align the interests of the Board with shareholders through a holding requirement of DKK 300,000 over five years.
Zealand Pharma's Annual General Meeting 2021 was held electronically on April 15, 2021. All proposals were adopted, including the approval of the 2020 financial results, which showed a loss of TDKK 846,729. The current board members were re-elected, and key committee structures were confirmed, with Nicklasson and Drejer continuing as Chair and Vice-Chair. Authorization was granted to acquire treasury shares and increase share capital by up to DKK 10,850,136 without pre-emption rights. Zealand aims to advance its peptide-based medicines for metabolic diseases.
Boehringer Ingelheim and Zealand Pharma announced the initiation of two Phase 2 clinical trials for the GLP-1/glucagon dual agonist BI 456906 targeting obesity and non-alcoholic steatohepatitis (NASH). This advancement stems from their long-term collaboration, focusing on innovative therapies for cardiometabolic diseases. The trials aim to demonstrate weight loss efficacy and improvement of liver conditions over 48 weeks. Zealand stands to gain up to EUR 345 million in milestone payments, plus royalties on global sales from BI 456906.
