Zealand Pharma FIRST LOOK: Amycretin data supportive of amylin's weight loss potential
In Zealand related news, Novo Nordisk (no coverage) reported phase 1b/2a results for amycretin (GLP-1/amylin receptor agonist) in 125 people with overweight/obesity on Friday during trading hours, which led Novo to trade +13% intraday and Zealand +7% intraday. The results demonstrated 22% weight loss (24% placebo adjusted) at 36 weeks on the 20mg dose. While no information has been published on the receptor biology of amycretin, making direct comparisons with Zealand's petrelintide difficult, we believe the results are supportive for the amylin class in general and for Zealand's targeted 15-20% weight loss profile for petrelintide (amylin receptor agonist) as a monotherapy. We reiterate our DKK 970 TP and BUY rating for Zealand.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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