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Zealand Pharma: submits new drug application for rescue pen

( - Zealand Pharma said that it has submitted a new application to the US Food and Drug Administration for its rescue pen to treat severe hypoglycemia.

The company said that it is planning a potential launch in the US market in 2021 for the ready-to-use dasiglucagon HypoPal pen, which offers diabetes patients fast treatment for hypoglycemia.

This Thursday the biopharmaceutical company also reported a net loss of 177 million Danish kronor for the first quarter of 2020, due to increasing costs, up from a loss of 136 million in the same quarter last year.

In its statement, Zealand said it recently secured 137 million Danish kronor through a private placement and direct issue of shares to a US-based investor.

The Zealand Pharma share is currently down 4% on the Copenhagen Stock Exchange.

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