Zealand Pharma A/s · OMXCOP:ZEAL
Zealand Pharma A/s — H1 2025 Earnings Presentation
21 slides from Zealand Pharma A/s's earnings presentation, Aug 14, 2025
Slide 1: H1 2025 Presentation
H1 2025 Presentation Zealand Pharma August 14, 2025 1
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains “forward-looking statements”, as that term is defined in the Private Securities Litigation Reform Act of 1995 in the United States, as amended, even though no longer listed in the United States this is used as a definition to provide Zealand Phar
Slide 3: Agenda
Agenda Q&A Opening remarks R&D pipeline Financials Adam Steensberg David Kendall Henriette Wennicke Chief Executive Chief Medical Chief Financial Officer Officer Officer 3
Slide 4: Zealand Pharma is in a unique position to become a key player in obesity
Zealand Pharma is in a unique position to become a key player in obesity Differentiated mid- to late-stage obesity pipeline (petrelintidea, petrelintide/CT-388a, survodutideb, dapiglutide) Leading obesity programs backed by strong partners (petrelintide/Roche, survodutide/Boehringer Ingelheim) Organ
Slide 5: Petrelintide collaboration with Roche off to a strong start and moving full steam ahead
Petrelintide collaboration with Roche off to a strong start and moving full steam ahead Rapidly advancing petrelintide monotherapy program ➢ ZUPREME-1 28-week data expected in Q4 2025 (not for external communication) ➢ ZUPREME-1 42-week topline data expected to be announced in H1 2026 Pharma Day 202
Slide 6: Petrelintide holds potential as a future foundational therapy for weight management
Petrelintide holds potential as a future foundational therapy for weight management Potential for improved GI tolerability and a better patient experience, addressing the weight loss needs of the vast majority of people with overweight and obesity Obesity represents one of the We need more than one
Slide 7: Our R&D pipeline addresses unmet medical needs across several therapeutic areas
Our R&D pipeline addresses unmet medical needs across several therapeutic areas Product candidatea Partnered Pre-clinical Phase 1 Phase 2 Phase 3 Registration , Petrelintide (amylin analog)b Obesity related co-morbidities Petrelintide/CT-388 (amylin + GLP-1/GIP)b Obesity Obesity and Dapiglutide (GLP
Slide 8: Zealand Pharma and Roche aim to establish the leading amylin-based weight management franchise
Obesity Petrelintide Zealand Pharma and Roche aim to establish the leading amylin-based weight management franchise Developing petrelintide as a foundational therapy for weight management with the ambition to rapidly expand into obesity-related comorbidities Key unmet medical needs Current collabora
Slide 9: Clinical data to date strengthen our confidence in the deliberate design of petrelintide
Obesity Petrelintide Clinical data to date strengthen our confidence in the deliberate design of petrelintide Petrelintide design and Totality of clinical data reinforce molecule-specific attributes petrelintide’s best-in-class potential Human amylin backbone (intentionally avoiding sCT GLP-1RA-like
Slide 10: Female participants in the 16-week Phase 1b trial generally lost more weight than the males
Obesity Petrelintide Female participants in the 16-week Phase 1b trial generally lost more weight than the males Weight loss from baseline after 16 weeks by gender presented in June at ADA 2025 % Placebo Petrelintide 2.4 mg Petrelintide 4.8 mg Petrelintide 9.0 mg 21% of trial participants in the tri
Slide 11: ZUPREME-1 Phase 2 results expected in H1 2026, with Phase 3 initiation anticipated in H2 2026
Obesity Petrelintide ZUPREME-1 Phase 2 results expected in H1 2026, with Phase 3 initiation anticipated in H2 2026 ZUPREME-1 features a balanced gender distribution and a higher BMI at baseline compared to Phase 1 ZUPREME-1: Overweight/obesity without T2D1 ZUPREME-12,a 16-week Phase 1b3 >480 trial p
Slide 12: Dapiglutide provides competitive weight loss to target specific obesity-related comorbid conditions
Obesity Dapiglutide Dapiglutide provides competitive weight loss to target specific obesity-related comorbid conditions Dapiglutide (GLP-1/GLP-2): Potential first-in-class Competitive weight loss data reported with targeting obesity and low-grade inflammation dapiglutide across clinical trials to da
Slide 13: Survodutide Phase 3 obesity topline data expected in H1 2026
Obesity Survodutide Survodutide Phase 3 obesity topline data expected in H1 2026 Survodutide demonstrated highly competitive weight loss of up to 18.7% at 46 weeks in Phase 2 obesity trial Phase 2 obesity trial1 Mean relative change 0 at Week 46 (%) Adjusted mean (95% CI) change in body weight (%) L
Slide 14: Survodutide has shown groundbreaking potential in MASH, with ambitious Phase 3 program ongoing
Obesity Survodutide Survodutide has shown groundbreaking potential in MASH, with ambitious Phase 3 program ongoing Survodutide1 Pemvidutide2 Tirzepatide3 Semaglutide4 Resmetirom5 Large Phase 3 program in MASH is ongoing GCGR/GLP-1R GCGR/GLP-1R GLP-1R/GIPR GLP-1R agonist THR-β agonist dual agonist du
Slide 15: Survodutide is backed by a global leader in CVRM R&D, manufacturing and commercial execution
Obesity Survodutide Survodutide is backed by a global leader in CVRM R&D, manufacturing and commercial execution Boehringer Ingelheim Key terms of survodutide licensing agreement Global footprint with ~54,500 employees in 130 markets1 66 million patients reached in 20242 ✓ BI solely responsible for
Slide 16: Focused and committed to bringing our rare disease programs to patients as quickly as possible
Rare diseases Focused and committed to bringing our rare disease programs to patients as quickly as possible Dasiglucagona: Congenital hyperinsulinism Glepaglutideb: Short bowel syndrome Prepared to resubmit Part 1 of original NDA to Type A meeting with the U.S. FDA completed, the U.S. FDA for up to
Slide 17: H1 2025 Profit & Loss
Financials H1 2025 Profit & Loss P&L reflecting Zealand’s investments in its DKK million H1 2025 H1 2024 differentiated R&D assets and organization Revenue 9,096.4 49.2 • Revenue of DKK 9,096 million is driven by the initial upfront payment under the partnership agreement with Roche for petrelintide
Slide 18: Zealand Pharma is very well-funded, providing a strong foundation ahead of major upcoming catalysts
Financials Zealand Pharma is very well-funded, providing a strong foundation ahead of major upcoming catalysts Solid financial position with ample room for investments in the R&D pipeline DKK million -131 16,578 Potential near-term cash inflows -332 USD 250 million in anniversary payments 8,019 USD
Slide 19: 2025 financial guidance confirmed
Financials 2025 financial guidance confirmed DKK million 2025 2024 Guidancea Actuals Revenue anticipated from existing and new license and No guidance 63 partnership agreements Net operating expensesb 2,000 – 2,500 1,327 aFinancial guidance on net operating expenses for 2025, published on February 2
Slide 20: Major catalysts across the portfolio rapidly approaching
Major catalysts across the portfolio rapidly approaching NON-EXHAUSTIVE H2 2025 H1 2026 H2 2026 Dapiglutide Petrelintidea Petrelintidea Initiation of Ph2 trial in Topline results from Ph2 ZUPREME-1 trial Expected initiation of Ph3 program obesity-related comorbidity Glepaglutide (SBS) Petrelintide/C
Slide 21: Q&A Zealand Pharma upcoming investor conferences
Q&A Zealand Pharma upcoming investor conferences • Jefferies Healthcare Summit, Zürich, September 3 • Cantor Global Healthcare Conference, New York, September 4 • Wells Fargo Healthcare Conference, Boston, September 5 • Morgan Stanley Healthcare Conference, New York, September 10 • Bank of America W