Zealand Pharma A/S

Good day and thank you for standing by. Welcome to the Zealand Pharma Interim Report Half Year 2025 Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1, 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Adam Lange, Vice President, Investor Relations. Please go ahead.

Thank you, Operator, and thank you to everyone for joining us today to discuss Seed on Pharma's results for the first six months of 2025. You can find the related company announcement on our website at ZeelandPharma.com. As described on slide two, I caution listeners that during this call, we will be making forward-looking statements that are subject to risks and uncertainties. Turning to slide three and today's agenda. With me today are the following members of Zeeland Pharma's management team. Adam Steenspa, President and Chief Executive Officer, Henriette Eveneke, Chief Financial Officer, and David Kendall, Chief Medical Officer. All speakers will be available for the subsequent Q&A session. Moving to slide four, I will now turn the call over to Adam Stengsberg, President and CEO.

Thank you, Adam, and welcome everyone. Today, we stand in a unique position to realize our vision to become a key player in the management of obesity. We have a clearly differentiated mid- to late-stage obesity pipeline with two leading programs, Petronotype and Cervutotype, backed by strong partners in Ross and Boehringer Ingelheim. Both programs are rapidly approaching key clinical readouts with Phase II data for Petronotype and Phase III data for Cervutotype in our sites. Over the past two years, we have strengthened our organization and our internal capabilities, including recent appointments to our leadership team. Utpal Singh, as Chief Scientific Officer, will drive the next wave of innovation, and Steven Johnson, as Chief Development Officer, will lead our development and regulatory strategies. Finally, our robust financial position ensures that the strongest possible foundation as we approach major upcoming catalysts for our leading obesity programs. With this momentum, C-Land Pharma is entering a pivotal new chapter, and I'm truly excited what lies ahead. Turning to slide five. The ROS Alliance for Petronatide has begun exceptionally well. With ROS, we are rapidly advancing the Petronatide monotherapy program once the 28-week data from the Supreme I Phase II trial are in hand, which is expected by the end of this year, the undiagnosed teams can move forward with the end of Phase II meeting with the US FDA. We expect to report the 42-week data in the first half year of 2026 and initiate the Phase III program with petronutide monotherapy in the second half of 2026. Meanwhile, We expect to initiate phase two for the first Petrinatide-based combination product under the collaboration Petrinatide combined with ROS leading in-cretin acid CT388, a potential best-in-class DRP1-DIP receptor dual agonist in the first half of 2026. So it's full steam ahead with the ROS collaboration on the Petrinatide clinical development program. Under the collaboration, Ross is responsible for all investments into commercial manufacturing and supply for Petrinotype and the Petrinotype-based fixed-dose combination. With regards to manufacturing readiness, we are truly impressed with the decisiveness and firmness with which Ross moves forward. The early commitments and planning around manufacturing were a big reason why we chose them as our partner. They are already building out capacity at scale, including a state-of-the-art, high-volume, high-throughput fill-finish manufacturing facility in the US. These early and meaningful investments will significantly contribute to unlocking the full value potential of Petrinatide and our shared ambition to establish the leading amylin-based franchise. At the Ross Pharma Day on September 22nd, we expect that they will provide further insights into their obesity strategy. And at our Capital Markets Day in December, where our obesity strategy will take center stage, we look forward to sharing updates on the programs and on our efforts to become a key player in the management of obesity. Let's move to slide six. It is without a doubt that new and better treatment options are needed to tackle one of the greatest healthcare challenges of our time. And with only a small fraction of eligible patients receiving pharmacotherapy today, we are clearly at the very early stage in the evolution of this market, which will require many therapeutic options with a range of different mechanisms to adequately address this chronic disease. Real-world treatment persistence with the T1-based therapies remains a challenge, highlighting a clear need for more tolerable, simple, and patient-friendly options. As an industry, we have to move away from focusing on speed and magnitude of weight loss. This is not consistent with what the vast majority of people with overweight and obesity desire. We believe that a product with the best potential to become the preferred therapy for a broad population with overweight and obesity should deliver weight loss in the range of 10 to 20 percent, which the vast majority desire through a mechanism that offers a more positive patient experience with improved tolerability, including fewer and milder gastrointestinal events, so that patients can better achieve and importantly maintain a healthy reduction in their body weight. This is why we are so excited about the potential for Petrinatide to become a foundational therapy for weight management. And with that, let's move to slide seven as I turn over the call to our chief medical officer, David Kendall, to discuss our R&D pipeline. David?