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Zealand Pharma Sees $400 Million Net Q4 Cash Inflow Tied to Roche

A $575 million development milestone is partly offset by a $175 million payment associated with enicepatide. The 2026 operating expense range excludes other operating items.

An unmarked vial balances against two steel weights on a beam / TokenPost.ai
An unmarked vial balances against two steel weights on a beam / TokenPost.ai

Zealand Pharma expects a $400 million net cash inflow tied to Roche in the fourth quarter, after a $175 million payment associated with enicepatide partly offsets a $575 million development milestone. The company announced the outlook update Nov. 12, 2026.

The net figure reflects the milestone and offset together. Zealand Pharma also narrowed its 2026 operating expense outlook to DKK 2.7 billion to DKK 3.0 billion, excluding other operating items.

John Kim

John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.

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