U.S.-listed shares of Zealand Pharma /zigman2/quotes/204494851/composite ZEAL -0.92% /zigman2/quotes/202211460/delayed DK:ZEAL +2.49% soared 21.2% in premarket trading on Thursday after the company said a Phase 3 clinical trial evaluating its investigational treatment for babies with a rare genetic disorder met the primary endpoint. Zealand is testing dasiglucagon as a treatment for pediatric patients with congenital hyperinsulinism, which causes excess insulin secretion and low blood sugar. The company said it plans to discuss submitting a new drug application to the Food and Drug Administration based on this data and data from another double-blind, placebo-controlled Phase 3 clinical trial. The FDA has already granted an orphan-drug designation to dasiglucagon for the treatment of CHI. Zealand's stock is down 45.1% this year, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.06% has declined 17.7%.