Zealand Pharma CagriSema phase 3 outcome bodes well for petrelintide
In Zealand-related news, Novo Nordisk has released the highly anticipated phase 3 results of CagriSema (fixed dose combination of semaglutide [GLP-1 analog] and cagrilintide [amylin analog]) in overweight and obese participants. The 22.7% weight loss came below expectations, leading the stock to trade -27% intraday. We were particularly interested in the cagrilintide (amylin analog) monotherapy arm, and believe the ~12% weight loss observed bodes well for petrelintide's prospects of achieving the targeted profile of 15-20% weight loss, particularly at the higher dose. We reiterate our BUY rating and DKK 970 TP.Zealand Pharma is a biotechnology company. Co. is engaged in the discovery development and commercialization of peptide-based medicines. Co.'s pipeline comprises two implementation areas: Cardio-metabolic diseases and Other indications. The Cardio-metabolic diseases area includes medicines for diabetes and obesity treatment, such as Lyxumia (Lixisenatide), Lyxumia/Lantus, ZP2929 and Danegaptide. The Other indications area are ZP1848, Elsiglutide and ZP1480 (ABT-719) drugs for inflammatory bowel disease, chemotherapy-induced diarrhea and acute kidney injury treatment.
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