Zealand Pharma FY24 Loss Widens

(RTTNews) - Biotechnology company Zealand Pharma A/S (ZEAL, ZLPDF.OB) recorded wider net loss for the full year, that reflected lower revenues and higher operating expenses.

The company posted net loss of 1.08 billion Danish Kroner in fiscal 2024, compared to net loss of 703.74 million Danish Kroner a year ago. On a per share basis, loss widened to 16.24 Kroner from 12.44 Kroner last year.

During full-year 2024, loss before tax widened to 1.083 billion Kroner from 708.87 million Kroner in the previous year.

The company's net operating expenses widened to 1.33 billion Kroner from 895.85 million Kroner in the prior year.

Annual revenues fell to 62.69 million Kroner from 342.79 million Kroner a year ago. The 2023 revenues had benefited from a 30 million euros milestone payment from Boehringer Ingelheim associated with survodutide and $10 million milestone payment from Sanofi associated with lixisenatide.

For full-year 2025, the company expects net operating expenses in the range of 2.00 billion Kroner-2.50 billion Kroner.