Copenhagen, 2013-08-29 08:30 CEST (GLOBE NEWSWIRE) -- Company Announcement No. 20/2013 -- Net result for the first six months of 2013 was
DKK -104(EUR -14) million -- Cash and securities of DKK 404(EUR 54) million on 30 June 2013-- In H1 2013, Sanofi initiated the commercial roll-out of Lyxumia® Zealand’s first invented peptide medicine, in the first markets Zealand Pharma A/S (CVR no. 20 04 50 78) (NASDAQ OMX Copenhagen: ZEAL) (“Zealand”), a Danish biotechnology company dedicated to the discovery and development of novel peptide drugs, today announced its un-audited interim report for the six-month period, 1 January to 30 June 2013. Financial highlights for H1 2013 (Comparative figures for the same period 2012 are shown in brackets) -- Revenue of DKK 1.1/ EUR 0.1 million( DKK 186.2/ EUR 25.1 million). -- Net operating expenses of DKK 106.2/ EUR 14.2 million( DKK 82.8/ EUR 11.1 million). -- Net result of DKK -104.3/ EUR -14.0 million( DKK 89.4/ EUR 12.0 million). -- Earnings per share of DKK -4.61/ EUR -0.62( DKK 3.95/ EUR 0.53). -- End of period cash and securities of DKK 403.6/ EUR 54.2 million( DKK 525.0/ EUR 70.7 million). Product and pipeline highlights for Q2 2013 and the period thereafter Lyxumia® (lixisenatide) - Type 2 diabetes (licensed to Sanofi) -- Following the approval of Lyxumia®, Zealand’s first invented peptide medicine, in the European Unionin February 2013, Sanofi has launched the product in the first markets. In Germany, where Lyxumia® was launched at the end of March as one of the first European markets, the product had gained an 11.5% volume share of the German weekly GLP-1 market by 26 July. -- Sanofi is continuing the progressive roll-out of Lyxumia ® throughout Europe. -- In June, Lyxumia® was approved in Japan, including the approval of this product as the first GLP-1 agonist to be approved in Japanfor use in combination with basal insulin. Lantus®/Lyxumia® combination product – Type 2 diabetes (licensed to Sanofi) -- In May, Sanofi confirmed their decision to start Phase III development of the LixiLan Fixed-Ratio product, a single product of the Lantus®/Lyxumia® combination. The decision was supported by results from a Phase IIb study in 323 patients with Type 2 diabetes. -- In June, it was announced by Sanofi that first patient dosing in Phase III is expected in H1 2014. ZP2929 - Type 2 diabetes and/or obesity (partnered with Boehringer Ingelheim) -- Zealand and Boehringer Ingelheim continue to work closely together on the clinical Phase I development of ZP2929, which represents a novel therapeutic approach in diabetes and/or obesity. Current development activities include extended preclinical studies to fulfill FDArequirements for additional elucidation of the drug candidate's profile. -- Zealand expects to be able to give a further update on the expected timelines for the ZP2929 Phase I program in Q1 2014.