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Zealand Pharma has appointed David M. Kendall, M.D., as its new Chief Medical Officer, following the recent appointment of Adam Steensberg as CEO. Dr. Kendall, who has over 35 years of experience in diabetes and metabolic disease, previously served as Senior Global Medical Advisor at Zealand. His leadership is expected to enhance the company's clinical programs as they refocus on advancing their peptide-based medicine pipeline. Zealand has a portfolio of over 10 drug candidates, with two already on the market and three in late-stage development.
Zealand Pharma announced a directed issue and private placement of 2,892,368 new shares, amounting to approximately 6.6% of its existing share capital. The gross proceeds are expected to total DKK 274.8 million (approximately $40.4 million), which will enhance the company's ability to execute its refocused strategy emphasizing R&D and commercial partnerships for late-stage products. The new shares will be priced at DKK 95 each, reflecting the current market price. This funding extends Zealand's cash runway into H2 2023.
Zealand Pharma A/S (Nasdaq: ZEAL) announced transactions involving its shares by individuals in managerial positions, reflecting ongoing movements within the company. The biotechnology firm, based in Copenhagen, specializes in peptide-based medicines, with over 10 drug candidates currently in clinical development. Among its marketed products are V-Go® and Zegalogue®. Zealand Pharma's collaborations with Boehringer Ingelheim and AstraZeneca may enhance its market reach.
Further details can be found in the attachments included in the release.
Zealand Pharma announced five accepted presentations at the 82nd Annual American Diabetes Association Scientific Sessions, showcasing initial clinical data on its GLP-1/GLP-2 dual agonist, dapiglutide. The presentations will include Phase 1 data demonstrating significant weight loss and preclinical insights into the antidiabetic potential of ZP8396, a long-acting amylin analogue. These findings reinforce the company’s commitment to developing innovative treatments for diabetes and obesity, with presentations scheduled in New Orleans from June 3-7, 2022.
Zealand Pharma has announced a long-term incentive program (LTIP) for its Corporate Management and employees, granting a total of 266,223 performance stock units (PSUs), 99,420 restricted stock units (RSUs), and 863,156 warrants. The total cost of this program amounts to DKK 69.4 million. The PSUs are tied to operational and market-based performance targets, while the RSUs will vest over three years. The LTIP aims to align management interests with shareholder goals, enhancing talent retention and motivation.
Zealand Pharma A/S (Nasdaq: ZEAL) has reported transactions in its securities by individuals with managerial responsibilities. This announcement follows a standard protocol for transparency in trading activities. Zealand Pharma focuses on peptide-based medicines, with two drugs currently on the market and three in late-stage development. The company collaborates with major pharmaceutical partners, enhancing its market reach. The release emphasizes the importance of proper communication regarding trades by executives and insiders, reinforcing Zealand's commitment to shareholder transparency.
Zealand Pharma announced positive results from a Phase 3 trial of dasiglucagon in pediatric patients with congenital hyperinsulinism (CHI). The trial demonstrated a statistically significant reduction of 55% in intravenous glucose requirements compared to placebo. Dasiglucagon was well-tolerated in the trial, with 11 out of 12 patients continuing into a long-term safety study. Zealand Pharma plans to submit a New Drug Application to the FDA by the end of 2022, aiming to provide a new treatment for this ultra-rare condition, which hasn't seen a developed medicine in over three decades.
Zealand Pharma has entered into an asset purchase agreement with MannKind Corporation to sell the V-Go insulin delivery device for $10 million and additional sales milestones. The deal also includes certain inventory and employees. This agreement aligns with Zealand's strategy to find partners for commercial and late-stage assets while focusing on R&D for new peptide therapeutics. The acquisition is expected to close in May 2022 and does not affect Zealand's 2022 financial guidance.
Zealand Pharma has announced corrections regarding its previous release about transactions in its securities by managerial personnel. The corrected share price at market close on May 12, 2022, was reported at DKK 73.75, lower than the previously stated DKK 75.75. This change affects the overall calculated value for participants involved in the transactions. Zealand Pharma, focusing on peptide-based medicines, currently has two marketed drugs and several candidates in late-stage development.
Zealand Pharma A/S (Nasdaq: ZEAL) announced recent transactions in its shares by managerial personnel on May 12, 2022. The Copenhagen-based biotechnology company specializes in innovative peptide-based medicines, with over 10 drug candidates in clinical development. Notably, two products are already available on the market, including V-Go for diabetes treatment. Zealand’s collaborations with Boehringer Ingelheim and AstraZeneca enhance its pipeline, increasing potential patient access to its therapies. Further details were provided in the attached documents.
