Zealand Pharma tumbles on the stock market after disappointing obesity drug study results

At 10:30 a.m., the share fell 26 percent on the Copenhagen Stock Exchange.

In a Phase 3 study of the drug candidate survodutide, participants who took the drug reduced their abdominal fat by up to 34 percent after 76 weeks.

At the same time, 19 percent discontinued treatment prematurely because of side effects, compared with 2.9 percent in the placebo group.

That so many chose to discontinue the study is disappointing, Barclays analyst Yihan Li writes to Bloomberg.