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Zealand Pharma (Nasdaq: ZEAL) reported its financial results for Q1 2022, revealing revenue of DKK 15.1 million (USD 2.3 million), an increase from DKK 5.7 million (USD 0.9 million) in Q1 2021. Net operating expenses rose to DKK -314.2 million (USD -46.9 million), up from DKK -266.7 million (USD -42.0 million) the previous year. Cash reserves stood at DKK 1,123.2 million (USD 167.6 million). The company is focusing on R&D and restructuring commercial operations to enhance value through strategic partnerships. Amendments to the note purchase agreement with Oberland Capital aim to extend cash runway into 2023.
Zealand Pharma announces a notification from Credit Suisse Group AG regarding its shareholding changes. As of May 10, 2022, Credit Suisse's total holdings now fall below the 5% threshold of Zealand's share capital and voting rights. However, when considering financial instruments with similar economic effects, their total remains above the 5% threshold. This change complies with the Danish Capital Markets Act, signaling a shift in major shareholder dynamics for Zealand Pharma, which focuses on peptide-based medicines.
Zealand Pharma announced an amendment to its financing agreement with Oberland Capital, reducing the outstanding note principal from $100 million to $50 million and removing cash usage restrictions. The new deal allows for up to $75 million in incremental capital contingent upon certain events. This amendment aims to extend the company's financial runway into 2023 and supports its R&D priorities. CEO Matthew Dallas emphasized that this agreement enhances Zealand’s financial flexibility and positions it to capitalize on pipeline opportunities.
Zealand Pharma A/S (Nasdaq: ZEAL) will host a conference call on May 12, 2022, at 4 pm CET (10 am ET) to discuss its first quarter results for 2022. Presenters will include Adam Steensberg, President and CEO, and Matt Dallas, CFO, followed by a Q&A session. The call will be in English and can be accessed through various international dial-in numbers. A live audio webcast and accompanying slides will be available online, with a recording and transcript provided afterwards on Zealand’s Investor website.
Zealand Pharma A/S (NASDAQ: ZEAL), a Copenhagen-based biotechnology firm, announced on April 22, 2022, transactions involving its securities by managers within the company. These transactions are deemed significant as they might indicate insider confidence or lack thereof regarding the company’s future performance. Zealand Pharma focuses on peptide-based medicines, with 10 drug candidates in clinical development, including V-Go® and Zegalogue®. Potential collaborations with major pharmaceutical firms could enhance patient access to their treatments.
Zealand Pharma announces a share-based long-term incentive program for its Board of Directors, aligning their interests with shareholders. A total of 40,500 restricted stock units (RSUs) have been granted, with each member able to receive up to 8,000 RSUs. The estimated fair market value of these grants is DKK 3.55 million. Members must meet a holding requirement of DKK 300,000 within five years. This initiative aims to enhance corporate governance and retention.
Zealand Pharma announced a significant change in shareholding as major shareholder Polar Capital LLP reported holding 5.01% of total shares and voting rights. This notification was issued in compliance with the Danish Capital Markets Act. Zealand Pharma is a biotechnology company specializing in peptide-based medicines, with notable products including V-Go® and Zegalogue®. The press release highlights the company's advancements in clinical development and its integrated approach within the biotechnology sector.
Zealand Pharma A/S held its 2022 Annual General Meeting electronically on April 6, 2022. All proposals were adopted except for one withdrawn item. The management's report and the audited Annual Report for 2021 were approved. Incumbent board members were re-elected, and board positions were retained. The meeting authorized the board to acquire treasury shares and approved a new remuneration policy. Additionally, the board was authorized to issue warrants and convertible debt instruments. Zealand is focused on peptide-based medicines for metabolic and gastrointestinal diseases.
Zealand Pharma will participate in the 21st Annual Needham Virtual Healthcare Conference on April 11, 2022. CEO Adam Steensberg and CFO Matthew Dallas will present at 9:30 a.m. EST. A live webcast will be available on Zealand’s website, with a replay archived post-presentation. Zealand is focused on peptide-based medicines, having advanced over 10 drug candidates into clinical development, including two on the market and three in late-stage development. With collaborations with Boehringer Ingelheim and AstraZeneca, Zealand aims to enhance patient access to its innovative therapies.
