Copenhagen, Jan 7, 2026, 11:47 CET — Regular session
- Zealand Pharma shares fall 6% in Copenhagen trade, underperforming the broader OMXC25 index
- Investors focus turns to the company’s Jan. 14 slot at the J.P. Morgan Healthcare Conference
- Next key catalyst: Feb. 19 annual report and Q4 results, with major obesity-trial readouts due in H1 2026
Shares in Zealand Pharma (ZELA.CO) slid 6.1% to 405.5 Danish crowns by 11:27 a.m. CET, versus Tuesday’s close of 431.7, while Denmark’s OMXC25 index dipped about 0.4%. 1
The move shows how sharply investors are trading the obesity-drug pipeline race, where small shifts in timing and trial expectations can swing valuations. Zealand is trying to carve out a role beyond GLP-1 drugs — the hormone-mimicking injections that dominate weight loss today — and CEO Adam Steensberg has called the fight against obesity a “civilisation-scale health crisis.” 2
Attention is also building into next week’s J.P. Morgan Healthcare Conference, a key early-year stage for drugmakers to update investors on trials and strategy. Competition for capital remains intense: Eli Lilly on Tuesday signed a research and licensing deal with Nimbus Therapeutics focused on oral obesity treatments, underscoring the industry push to develop pills that can rival injections. 3
Zealand said on Monday it will participate in the conference in San Francisco, with Steensberg scheduled for a presentation and fireside chat on Jan. 14 at 10:30 p.m. Copenhagen time, and a live webcast available. 4
In a November trading update, the company said it expects topline results — the first headline data — from its 42-week Phase 2 ZUPREME-1 trial of petrelintide in the first half of 2026 and Phase 3 SYNCHRONIZE trials of survodutide over the same period. The same update set its Q4 and full-year 2025 results for Feb. 19, 2026 and put its cash position at 16.2 billion crowns at end-September, alongside 2025 net operating expenses guidance of 2.0–2.3 billion crowns. 5
The selloff pulled the shares back toward the 400-crown mark, a level many short-term traders treat as a line in the sand. Investing.com puts the stock’s 52-week range at roughly 306 to 808 crowns, highlighting how wide the swings have been as the obesity trade reprices. 6
But the next stretch of data will carry the usual biotech risk: any sign petrelintide or survodutide misses on weight loss, safety or tolerability would hit expectations fast. Rival pipelines are deep, and investors have little patience for delays as big players keep spending on next-generation injections and oral drugs.
