Zealand Pharma A/S

Good day and thank you for standing by. Welcome to the Zealand Pharma Interim Report H1 2026 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 one, one again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Eric Rojas, Vice President and Head of Investor Relations. Please go ahead.

Thank you, Heidi, and thank you everyone for joining us today to discuss Zeeland Pharma's results for the first half of 2026. The related company announcement is available on our website at zealandpharma.com. As outlined on the slide, I would like to remind listeners that during today's call, we will be making forward-looking statements that are subject to risks and uncertainties. Turning to today's agenda, joining me on this call is Adam Steensburg, President and Chief Executive Officer, David Kendall, Chief Medical Officer, and Henrietta Venica, Chief Financial Officer. All speakers will be available for the Q&A session. I'll now hand the call over to Adam.

Thank you, Erik, and welcome, everyone. In the first half of 2026, we delivered on the key objectives we set out at the start of the year and grew significant progress across our pipeline. I'm pleased to walk through those accomplishments today. Starting with Petronaside, we reported positive SUPREME1 results, demonstrating double-digit weight loss with a tolerability profile consistent with placebo. On the back of that data, we confirmed advancement into Phase III registrational trials initiating in the second half of this year. So full speed ahead. On Cervalutide, our partner Boehringer Ingelheim reported positive SUPREME1 and synchronized muscle results. delivering competitive weight loss and targeted liver fat reduction, pointing to the potential for sustained improvements in metabolic health. What is compelling is that Servalutide targets the fat that actually drives poor metabolic health, and I believe that that is an increasingly important value proposition as this category matures. BI also solidified their commitment and excitement around Cervalutide by announcing an expansion of the development program with four new and additional phase 3B trials initiating in 2026. On the early pipeline, we have initiated a phase 1B clinical trial in plaque psoriasis with CP9830 and a first in human clinical trial with our GIP agonist CP6590. So real momentum in building out the next wave of innovation. In May, we initiated a US$200 million share buyback program, a statement for our strong commitment to returning capital to shareholders when we have the flexibility to do so. And finally, as announced yesterday, We monetized our royalty rights to a non-strategic asset to the US$100 million agreement with Royalty Pharma for Rochefortide, which will be redeployed back into our strategic priorities and long-term growth initiatives. This has been a very strong half year and execution across our business, and we remain focused on advancing our programs to get these medicines to patients as fast as we can. Before I hand over the call to David, I want to briefly mention what we witnessed at the American Diabetes Association meeting in June this year. The messages on key unmet medical needs in chronic weight management was clear. Tolerability, treatment persistence and patient experience. ADA opened with a symposium on amylin that spoke directly to these gaps. And what struck me the most was not the data, it was the framing. The speakers, all key opinion leaders in their BC space, laid out a hypothetical treatment paradigm for chronic weight management. This felt like a real shift in how the field is starting to think about treatment sequencing. And I think it maps closely to how we see the role of Petronaside. For the majority of patients, the proposal was to start with a long-action amylin as a first-line therapy. The logic here is simple. Why start with a very cumbersome treatment when a more benign one can deliver the weight loss most patients are actually after? For the patients with higher BMI and or complications, a GLP-1 with established evidence or higher efficacy dual or triple agonist could be the option. Then if those paths fail short of the patient's needs, escalate to combination therapy or biotic surgery. This narrative is now being proposed by the broader scientific community as a logical way to think about chronic weight management. What I find validating is that this is exactly the value proposition we have been building for Petrilentide, a benign, highly tolerable therapy delivering double digit weight loss for patients starting their weight loss journey with the option to add or escalate if need of more. With that, I will turn over the call to our Chief Medical Officer, David Kendall, to walk through the progress across our pipeline. David.