Ascendis Pharma A/S Reports Full Year 2017 Financial Results - Rare Disease Endocrinology Pipeline Advances, with Significant Milestones Anticipated Over the Next Twelve Months - - Conference Call Today at 4:30 p.m. East

Ascendis Pharma A/S Reports Full Year 2017 Financial Results

- Rare Disease Endocrinology Pipeline Advances, with Significant Milestones Anticipated Over

the Next Twelve Months -

- Conference Call Today at 4:30 p.m. Eastern Time -

COPENHAGEN, Denmark, March 28, 2018 (GLOBE NEWSWIRE) Ascendis Pharma A/S (Nasdaq: ASND), a biopharmaceutical company that utilizes its innovative

TransCon technology to address significant unmet medical needs in rare diseases, today announced financial results for the full year ended December 31, 2017.

We are excited by the progress of our rare disease endocrinology pipeline and the potential to bring patients differentiated treatments for unmet

medical needs. We anticipate data across all three of our clinical programs in the next twelve months, including full data from our ongoing phase 1 trial of TransCon PTH, top-line data from our planned

TransCon CNP phase 1 trial, and top-line data from our phase 3 heiGHt Trial for TransCon Growth Hormone, said Jan Mikkelsen, Ascendis Pharma s President and Chief Executive Officer. The value

of our TransCon technology platform is increasing as we move into multiple clinical programs, and we continue to see the broad applicability of our technology.

Recent Corporate Highlights

For the full year 2017, Ascendis Pharma reported a net loss of 123.9 million, or 3.68 per share (basic and diluted)

compared to a net loss of 68.5 million, or 2.58 per share (basic and diluted) during the same period in 2016.

Research and development

(R&D) costs for 2017 were 99.6 million compared to 66.0 million during 2016. Higher R&D costs in 2017 reflect an increase in manufacturing costs and clinical costs related to preparation for and execution of the

company s phase 3 clinical program for TransCon GH, including the heiGHt, fliGHt and enliGHten Trials, ongoing development of our proprietary auto-injector for use with TransCon GH, preparation for and execution of the company s phase 1

clinical trial of TransCon PTH, as well as preclinical development of TransCon PTH and TransCon CNP.

General and administrative expenses for the 2017

year were 13.5 million compared to 11.5 million during the 2016 year. The increase is primarily due to an increase in general and administrative personnel.

As of December 31, 2017, the company had cash and cash equivalents of 195.4 million compared to 180.3 million as of

December 31, 2016. The company s cash position was positively impacted by net proceeds of 123.1 million from an underwritten public offering in September 2017 and 1.6 million from warrant exercises. As of

December 31, 2017, Ascendis Pharma had 36,984,292 ordinary shares outstanding. As of March 28, 2018, including the 2018 offering, Ascendis Pharma had 41,523,765 ordinary shares outstanding.

Conference Call and Webcast information

will host a conference call and webcast today at 4:30 p.m. Eastern Time (ET) to discuss its full year 2017 financial results. Details include:

A live audio webcast of the event will be available in the Investors and News section of the Ascendis Pharma

website at www.ascendispharma.com. A webcast replay will also be available on this website shortly after conclusion of the event for 30 days.

About Ascendis Pharma A/S

applying its innovative prodrug technology to build a leading, fully integrated rare disease company focused on making a meaningful difference in patients lives. The company utilizes its TransCon technology with clinically validated

parent drugs to create new therapies with potential for best-in-class efficacy, safety and/or convenience.

Ascendis Pharma has a wholly-owned pipeline of three rare disease endocrinology programs, including once-weekly TransCon Growth Hormone, which is

currently being evaluated in a phase 3 program for children with growth hormone deficiency (GHD), TransCon PTH, a long-acting prodrug of parathyroid hormone for hypoparathyroidism currently in a phase 1 trial, and TransCon CNP, a long-acting prodrug

of C-type natriuretic peptide for achondroplasia. Additionally, Ascendis Pharma has multi-product collaborations with Sanofi in diabetes and Genentech in the field of ophthalmology.

For more information, please visit www.ascendispharma.com.

Forward-Looking Statements

This press release contains

forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our future operations, plans and objectives of management are

forward-looking statements. Examples of such statements include, but are not limited to, statements relating to (i) our ability to apply our prodrug technology to build a leading, fully integrated rare disease company, (ii) our

expectations regarding when we will announce full data from our ongoing phase 1 trial of TransCon PTH (iii) our expectations regarding when we will announce top-line data from our planned TransCon CNP

phase 1 trial, (iv) our expectations regarding when we will announce top-line data from our phase 3 heiGHt Trial for TransCon Growth Hormone, (v) our expectations regarding our ability to create

therapies with potential for best-in-class efficacy, safety and/or convenience and (vi) our product pipeline. We may not actually achieve the plans, carry out the

intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions,

expectations and projections disclosed in the forward-looking statements. Various important factors could cause actual results or events to differ materially from the forward-looking statements that we make, including the following: unforeseen

safety or efficacy results in our TransCon Growth Hormone, TransCon PTH and TransCon CNP or other development programs; unforeseen expenses related to the development of TransCon Growth Hormone, TransCon PTH and TransCon CNP or other development

programs, general and

administrative expenses, other research and development expenses and our business generally; delays in the development of TransCon Growth Hormone, TransCon PTH and TransCon CNP or other

development programs related to manufacturing, regulatory requirements, speed of patient recruitment or other unforeseen delays; dependence on third party manufacturers to supply study drug for planned clinical studies; and our ability to obtain

additional funding, if needed, to support our business activities. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating

to our business in general, see our current and future reports filed with, or submitted to, the U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 20-F for the year

ended December 31, 2017, which we filed with the SEC on March 28, 2018. Forward-looking statements do not reflect the potential impact of any future in-licensing, collaborations,

acquisitions, mergers, dispositions, joint ventures, or investments we may enter into or make. We do not assume any obligation to update any forward-looking statements, except as required by law.

FINANCIAL TABLES FOLLOW

Consolidated Statements of Profit or Loss and Other Comprehensive Income / (loss)

(In EUR 000s, except share and per share data)

Consolidated Statements of Financial Position