Q3 2024 Zealand Pharma A/S Earnings Call Transcript
Key Points
- Zealand Pharma AS (ZLDPF) reported positive data from the Phase 1 trial of petrelintide, showing it is well-tolerated and could offer a better patient experience compared to GLP-1-based therapies.
- The company is exploring collaboration opportunities with large pharma companies to further develop petrelintide as a potential first-line therapy for weight management.
- Positive top-line data from the Phase 1b trial of dapiglutide, a GLP-1, GLP-2 dual agonist, supports its potential as a first-in-class therapy for obesity and inflammation-related comorbidities.
- Boehringer Ingelheim, a partner of Zealand Pharma AS (ZLDPF), has initiated a large global Phase 3 program for survodutide in MASH, which has received FDA breakthrough therapy designation.
- Zealand Pharma AS (ZLDPF) has a strong cash position of DKK9.2 billion, enabling significant investments into their obesity programs.
- Operating expenses for the first nine months of 2024 were high at DKK919 million, primarily driven by research and development costs.
- The company received a complete response letter from the FDA for dasiglucagon due to issues with a third-party manufacturing facility, delaying its approval.
- There is a significant overlap between obesity and MASH, which could complicate the development and positioning of survodutide.
- Real-world data suggests that up to 30% of patients on GLP-1 treatments stop within a month, indicating potential challenges in patient adherence.
- The company faces competition from other amylin analogs and incretin-based therapies, which could impact the market potential of petrelintide.
Good day and thank you for standing by. Welcome to the Zealand Pharma results for Q3 2024 conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Anna Krassowska -- apologies, Anna Krassowska, Vice President, Investor Relations and Corporate Communications. Please go ahead.
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Thank you. Welcome and thank you for joining us today to discuss Zealand's results for the first nine months of 2024. With me today are the following members of Zealand's management team: Adam Steensberg, President and Chief Executive Officer; Henriette Wennicke, Chief Financial Officer; David Kendall, Chief Medical Officer; and Eric Cox, Chief Commercial Officer. You can also find the related company announcement and interim report on our website at zealandpharma.com.
As described on slide 2, I caution listeners that we will
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