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Zealand Pharma’s stock initially jumped 7% on Thursday, after results from a phase 2 clinical trial of its experimental weight loss drug leaked.
The Denmark-based biotech company said on Thursday that its co-developer of the drug, Boehringer Ingelheim, will present the results from the study on Friday at the European Association of the Study of Liver Congress. However, an abstract of the study was “unintentionally and temporarily” published on the website of the congress ahead of the presentation, said Zealand Pharma in a statement.
The abstract revealed previously unreported data on how survodutide helped decrease liver fibrosis (scarring) without worsening a fatty liver condition known as metabolic dysfunction-associated steatohepatitis (MASH).
In February, Zealand Pharma and Boehringer Ingelheim announced top-line results of the trial which found that 83% of patients on the treatment saw significant improvements to MASH.
Survodutide is also currently going through a phase-three clinical trial for treating obesity. Previous trials demonstrated that it helped users lose nearly 15% of their weight in 46 weeks.
The news comes as several pharma companies are racing to disrupt the weight loss drug duopoly dominated by Novo Nordisk, known for making Ozempic and Wegovy, and Eli Lilly, the producer of Zepbound. Many of which are testing the weight loss drugs for other medical treatments, which could help these drugs receive wider health insurance coverage.
For example, Novo Nordisk was granted Medicare coverage after it was approved to be used to reduce the risk of heart attacks. And in April, Eli Lilly announced the drug behind Zepbound was found to help alleviate sleep apnea in patients with obesity in late-stage clinical trials.
Novo Nordisk, Eli Lilly, and Vikings Therapeutics are all also testing their respective weight loss drugs for the treatment of MASH.