Danish Zealand's new drug averages an 8.6% weight loss, with a 10% surge in stock price

Danish pharmaceutical company Zealand's product - high-dose petrelintide can help people lose an average of 8.6% of their weight.

On June 20th, Danish pharmaceutical company Zealand announced that in a 16-week clinical trial, participants who received the company's innovative peptide drug "Petrelintide" or a placebo showed significant weight loss with excellent tolerability.

Specifically, in the second part of the phase 1b MAD trial, there were a total of 48 participants, with approximately 80% being male, a median age of 49 years, and a median baseline BMI of 29kg/m². Participants were randomly assigned to three dose cohorts and received 16 weeks of treatment with Petrelintide or placebo (3:1). The results showed that participants receiving high-dose Petrelintide treatment experienced an average weight loss of 8.6%, while the placebo group only had a weight loss of 1.7%.

Furthermore, Petrelintide demonstrated good tolerability in the trial, with no severe or moderate adverse events reported. Except for one participant who reported moderate nausea and vomiting and discontinued treatment after the third dose, all gastrointestinal adverse events were mild. It is worth noting that no other participants discontinued treatment due to adverse events. There were no reports of vomiting by other participants, with only two cases of mild diarrhea reported. The incidence of nausea in the active group was 16.7-33.3%, compared to 16.7% in the placebo group. Additionally, no drug antibodies were observed.

Zealand stated that these conclusions are based on preliminary analysis of the collected data and are not final results. The final results will be based on all collected data, including complete follow-up of the third cohort. Zealand expects to provide a more detailed presentation of the 16-week results of the second part of the MAD trial at a scientific conference later this year. The company also plans to rapidly advance the clinical development of Petrelintide and initiate a phase 2b clinical trial in late 2024.

In response, Dr. David Kendall, Chief Medical Officer of the company, stated:

"These data are both exciting and compelling, supporting our belief that Petrelintide has excellent tolerability and may serve as an important alternative in the management of overweight and obesity based on intestinal insulin therapy."

"Furthermore, these data pave the way for the rapid entry of Petrelintide into a phase 2b clinical trial, further demonstrating that this long-acting amylin analogue has comparable weight loss effects to GLP-1 receptor agonists and can provide a better patient experience. We look forward to initiating the phase 2b clinical trial of Petrelintide in the second half of 2024."

Following the announcement, Zealand's US-listed shares rose sharply during intraday trading, closing up 10.13%.