Zealand Pharma climbs on share buyback program

Shares of Zealand Pharma rose approximately 9% after the company announced a share buyback program to repurchase nearly $200M worth of stock over the next five months. The program, managed by Danske Bank, will buy back up to 7.2M shares from May 7 to October 31, 2026. Additionally, Zealand Pharma is set to receive $700M in milestone payments from Roche this year related to its weight loss candidate, petrelintide, including $575M expected in H2 for Phase 3 trials and a $125M anniversary payment in Q2.

Shares of Zealand Pharma (ZLDPF) closed ~9% higher in Denmark after the Danish biotech announced a share buyback program to repurchase nearly $200M (DKK 1.3B) worth of its stock over the next five months. The obesity drug developer has appointed Copenhagen-based Danske Bank as lead manager for the program under which it plans to buy back up to 7.2M...