(Reuters) -Denmark’s Zealand Pharma said on Thursday it has paused the development of an obesity drug candidate, currently in early stages, as part of active portfolio management.
The company said in its earnings report that it will focus on “programs with the greatest potential for clinical differentiation and long-term value creation”.
Denmark-listed shares of Zealand rose nearly 4%.
Zealand was previously planning to advance the obesity drug, dapiglutide, into mid-stage development this year.
The company now expects operating expenses to be in the range of DKK 2.0 billion to DKK 2.3 billion ($671.57 million), compared to DKK 2.0 billion to DKK 2.5 billion ($702.81 million) forecast previously.
($1 = 6.4029 Danish crowns)
(Reporting by Mariam Sunny in Bengaluru; Editing by Vijay Kishore)
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