Zealand Pharma reports smaller Q1 loss and share buyback
Zealand Pharma reported a smaller Q1 loss of 539 million Danish crowns as its obesity pipeline advances. The company also launched a $200 million buyback.
ZEALAND PHARMA A/S reported a Q1 operating loss of 539 million Danish crowns ($85 million), beating analyst estimates of 672.4 million crowns. The Denmark-based developer also announced a $200 million share buyback following positive clinical progress in its obesity drug pipeline. Results exceeded forecasts as the company advanced its obesity drug candidates.
### Pipeline Progress Drives Financial Outperformance Zealand's operating loss was 133.4 million crowns narrower than the LSEG-compiled forecast on Thursday morning. CEO Adam Steensberg said advancements in the obesity portfolio during the quarter helped Zealand strengthen its long-term guidance.
