Zealand Pharma posts adjusted third-quarter loss of $0.12 per share, versus $1.33 expected
Key Facts
Zealand Pharma reported results for the third quarter ended in September 2026, posting an adjusted loss of $0.12 per share, compared with the Zacks consensus estimate for a loss of $1.33 per share, according to a Zacks report published via Yahoo Finance on November 12. Revenue, meanwhile, was 4 million Danish kroner, compared with 50 million in the same period last year, according to Reuters. Zacks said revenue of $0.62 million was 97.57% below its estimate for the quarter. The revenue measures cited in the two reports point to a sharp year-on-year decline, alongside a shortfall against Zacks' estimate. The basic loss widened by about 70% to 685 million kroner, while a one-off gain from the sale of rusfertide royalty rights limited the reported net loss to 54 million kroner, Reuters reported.
The wider loss was accompanied by higher operating and research spending during the quarter. Total operating expenses rose to 689 million kroner from 511 million a year earlier, Reuters reported. Quarterly research and development expenses increased to 572 million kroner from 320 million in the third quarter of 2025. For the first nine months of 2026, research and development spending was 1.56 billion kroner, compared with 1.08 billion in the same period of 2025. Reuters attributed the increase to the Phase 2 ZUPREME program for petrelintide and preparations for Phase 3 studies.
In results from ZUPREME-2, Phase 2 data showed weight loss of up to 9.2% at week 28 among participants with overweight or obesity and type 2 diabetes, Reuters reported. HbA1c, a measure of blood sugar levels, also fell by up to 0.65% from a baseline average of 7.7%. In parallel, Zealand Pharma announced a global Phase 3 program for petrelintide in collaboration with Roche. The program comprises three registrational trials, with about 7,000 participants expected in total, according to the company announcement. Chief Executive Adam Steensberg said the company was "building a platform to accelerate the transition from idea to clinic and deliver 10 clinical programs by 2030," referring to its Metabolic Frontier 2030 strategy target.
In its 2026 financial guidance, the company narrowed its forecast for operating expenses, excluding other operating items, to 2.7–3.0 billion kroner from a previous range of 2.7–3.3 billion. It maintained its forecast for collaboration revenue at 4.5 billion kroner, according to its announcement. On development and regulatory decisions, the company expects to resubmit its application for dasiglucagon to treat congenital hyperinsulinism to the U.S. Food and Drug Administration in the fourth quarter of 2026. It also expects a final European decision on glepaglutide in the same quarter. Other upcoming milestones include the start of the Phase 2 ZYNERGY trial with Roche in people with overweight or obesity during the fourth quarter of 2026; the company set February 25, 2027, as the date for announcing its fourth-quarter results and 2026 annual report.