Zealand Pharma A/S (Zealand) (Nasdaq: ZEAL), a biotechnology company focused on the discovery and development of next generation peptide medicines, reported on Thursday net operating result of a negative DKK135.8m for the first quarter of 2019, ended 31 March 2019.

This was a decline over a net operating result of DKK88.5m in Q1 2018.

Revenues for the quarter were nil, as compared with DKK9.7m in Q1 2018.

Also, in 2019, Zealand expects revenue from new potential partnership agreements, and from milestones from existing license agreements. However, since such revenue is uncertain in terms of size and timing, Zealand does not guide on such revenues.

Net operating expenses in 2019 are expected to be within DKK550m to DKK570m, which is in line with the financial guidance provided in the Annual Report 2018.

In addition, according to Zealand Pharma it is off to a strong start in 2019. Already this year, it has initiated three phase 3 studies, one study in short bowel syndrome and two studies in congenital hyperinsulinism.

Zealand Pharma is a biotechnology company focused on the discovery and development of innovative peptide-based medicines.

(EUR1.00=DKK7.47)