(CercleFinance.com) – Zealand Pharma shares soared on the Copenhagen Stock Exchange on Friday following the biotechnology company’s announcement of positive results from a clinical study against obesity.
At 3:30 p.m., the stock jumped more than 16%, signing by far the strongest increase in the OMXC25 index in volumes reaching more than a million shares, unheard of in four months.
In a statement, Zealand said a phase 1b trial showed that its petrelintide, a human amylin analogue, helped participants lose an average of up to 8.6% of their weight over 16 weeks of treatment. .
For comparison, this rate only reached 1.7% in the placebo group.
According to Jefferies analysts, these figures suggest that the drug, administered by subcutaneous injection, could allow a loss of more than 15% over longer periods of time.
‘Importantly, tolerability was found to be impressive, although the study identified one treatment dropout, meaning that amylin could be an easier-tolerated alternative to GLP-1 ‘, adds Jefferies.
Zealand Pharma now plans to start a phase 2b clinical trial in the second half of the year.
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