Full Press Release Details
– Q3 2025 revenue of €143.1 million for YORVIPATH®and €50.7 million for SKYTROFA®
– Q3 2025 operating profit of €11.0 million
– TransCon®CNP (navepegritide) under FDA Priority Review for the treatment of children with achondroplasia with PDUFA date of November 30, 2025
– Conference call today at 4:30 pm ET
COPENHAGEN, Denmark, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Ascendis Pharma A/S (Nasdaq: ASND) today announced financial results for the third quarter ended September 30, 2025, and provided a business update.
“With our achievements in the third quarter and year to date, Ascendis is making great progress toward achieving Vision 2030. The ongoing strong global launch of YORVIPATH is transforming our financial profile and, based on positive feedback from physicians and patients, we expect to continue to build on this momentum,” said Jan Mikkelsen, Ascendis Pharma's President and Chief Executive Officer. “With TransCon CNP now under FDA and EMA review, we are on the verge of bringing our third high-value medicine to patients, and we expect our engine for future innovation to drive sustainable growth for years to come.”
Select Highlights & Anticipated 2025 Milestones
Third Quarter 2025 Financial ResultsTotal revenue for the third quarter of 2025 was €213.6 million, compared to €57.8 million during the same period in 2024. The year-over-year increase in revenue was primarily attributable to an increase in product revenue, which reflected a contribution of €134.6 million from YORVIPATH.
| Total Revenue | ||||||||||||
| (In EUR'000s) | Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | ||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| Revenue | ||||||||||||
| Commercial products | 193,790 | 55,710 | 443,480 | 153,598 | ||||||||
| Rendering of services and clinical supply | 6,134 | 1,272 | 13,228 | 9,637 | ||||||||
| Licenses | 788 | 851 | 3,002 | 26,490 | ||||||||
| Milestones | 12,922 | — | 12,922 | — | ||||||||
| Total revenue | 213,634 | 57,833 | 472,632 | 189,725 |
| Commercial Products Revenue | ||||||||||||
| (In EUR'000s) | Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | ||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| Revenue from commercial products | ||||||||||||
| SKYTROFA® | 50,701 | 47,249 | 152,745 | 138,455 | ||||||||
| YORVIPATH® | 143,089 | 8,461 | 290,735 | 15,143 | ||||||||
| Total revenue from commercial products | 193,790 | 55,710 | 443,480 | 153,598 |
Research and development costs for the third quarter of 2025 were €66.9 million, compared to €73.5 million during the same period in 2024. The decrease was driven by the completion of clinical trials and development activities within our Endocrinology Rare Disease pipeline.
Selling, general, and administrative expenses for the third quarter of 2025 were €113.4 million, compared to €69.8 million during the same period in 2024. The increase was primarily due to the continued impact from global commercial expansion, including launch activities for YORVIPATH.
Total operating expenses for the third quarter of 2025 were €180.3 million, compared to €143.4 million during the same period in 2024.
Operating profit for the third quarter of 2025 was €11.0 million primarily attributable to higher revenue from the launch of YORVIPATH in the U.S., partly offset by higher operating expenses.
Net finance expense for the third quarter of 2025 was €60.9 million, including non-cash remeasurement loss of financial liabilities of €47.2 million, compared to €2.9 million net finance income during the same period in 2024.
For the third quarter of 2025, Ascendis Pharma reported a net loss of €61.0 million, or €1.00 per share basic and diluted compared to a net loss of €99.2 million, or €1.72 per share basic and diluted for the same period in 2024.
As of September 30, 2025, Ascendis Pharma had cash and cash equivalents totaling €539 million compared to €560 million as of December 31, 2024. As of September 30, 2025, Ascendis Pharma had 61,695,211 ordinary shares outstanding, including 597,055 ordinary shares represented by ADSs held by the company.
Conference Call and Webcast InformationAscendis Pharma will host a conference call and webcast today at 4:30 pm Eastern Time (ET) to discuss its third quarter 2025 financial results.
Those who would like to participate may access the live webcasthere, or register in advance for the teleconferencehere. The link to the live webcast will also be available on the Investors & News section of the Ascendis Pharma website athttps://investors.ascendispharma.com. A replay of the webcast will be available in this section of the Ascendis Pharma website shortly after the conclusion of the event for 30 days.
About Ascendis Pharma A/SAscendis Pharma is a global biopharmaceutical company focused on applying our innovative TransCon technology platform to make a meaningful difference for patients. Guided by our core values of Patients, Science, and Passion, and following our algorithm for product innovation, we apply TransCon to develop new therapies that demonstrate best-in-class potential to address unmet medical needs. Ascendis is headquartered in Copenhagen, Denmark and has additional facilities in Europe and the United States. Please visitascendispharma.comto learn more.
Forward-Looking StatementsThis 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 Ascendis’ 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) Ascendis’ progress toward Vision 2030; (ii) prospect of Ascendis’ financial profile; (iii) Ascendis’ expectation of bringing TransCon CNP to patients and continue sustainable growth; (iv) U.S. label expansion of YORVIPATH and Ascendis’ expectation to pursue additional label expansions; (v) Ascendis’ plan to begin PaTHway Adolescent trial; (vi) Ascendis’ plan to initiate a Phase 3 trial of TransCon CNP in combination with TransCon hGH; (vii) Ascendis’ expectation to present 52-week data from the COACH Phase 2 trial of TransCon CNP and TransCon hGH; (viii) Ascendis’ plan to submit an IND or similar application to investigate TransCon CNP alone and in combination with TransCon hGH for the treatment of hypochondroplasia; (ix) Ascendis’ ability to apply its TransCon technology platform to make a meaningful difference for patients; and (x) Ascendis’ application of its TransCon technologies to develop new therapies that demonstrate best-in-class potential to address unmet medical needs. Ascendis 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 Ascendis makes, including the following: dependence on third party manufacturers, distributors and service providers for Ascendis’ products and product candidates; unforeseen safety or efficacy results in Ascendis’ development programs or on-market products; unforeseen expenses related to commercialization of any approved Ascendis products; unforeseen expenses related to Ascendis’ development programs; unforeseen selling, general and administrative expenses, other research and development expenses and Ascendis’ business generally; delays in the development of its programs related to manufacturing, regulatory requirements, speed of patient recruitment or other unforeseen delays; Ascendis’ ability to obtain additional funding, if needed, to support its business activities; and the impact of international economic, political, legal, compliance, social and business factors, including tariffs and trade policies. 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 Ascendis’ business in general, see Ascendis’ Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (SEC) on February 12, 2025, and Ascendis’ other future reports filed with, or submitted to, the SEC. Forward-looking statements do not reflect the potential impact of any future licensing, collaborations, acquisitions, mergers, dispositions, joint ventures, or investments that Ascendis may enter into or make. Ascendis does not assume any obligation to update any forward-looking statements, except as required by law.
Ascendis, Ascendis Pharma, the Ascendis Pharma logo, the company logo, TransCon, SKYTROFA®, and YORVIPATH®are trademarks owned by the Ascendis Pharma group.© November 2025 Ascendis Pharma A/S.
| Investor Contacts:Chad FugereAscendis Pharmair@ascendispharma.com | Media Contact:Melinda BakerAscendis Pharmamedia@ascendispharma.com |
| Patti BankICR Healthcare+1 (415) 513-1284patti.bank@icrhealthcare.com |
FINANCIAL TABLES FOLLOW
| Ascendis Pharma A/SConsolidated Statements of Profit or (Loss) andComprehensive Income / (Loss)(In EUR'000s, except per share data) | Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||
| Consolidated Statement of Profit or (Loss) | |||||||||||||
| Revenue | 213,634 | 57,833 | 472,632 | 189,725 | |||||||||
| Cost of sales | (22,354 | ) | (11,201 | ) | (71,317 | ) | (30,235 | ) | |||||
| Gross profit | 191,280 | 46,632 | 401,315 | 159,490 | |||||||||
| Research and development expenses | (66,879 | ) | (73,544 | ) | (225,470 | ) | (227,708 | ) | |||||
| Selling, general, and administrative expenses | (113,404 | ) | (69,831 | ) | (322,012 | ) | (210,928 | ) | |||||
| Operating profit/(loss) | 10,997 | (96,743 | ) | (146,167 | ) | (279,146 | ) | ||||||
| Share of profit/(loss) of associates | (7,501 | ) | (4,367 | ) | 14,980 | (15,485 | ) | ||||||
| Finance income | 6,036 | 28,279 | 89,948 | 29,262 | |||||||||
| Finance expenses | (66,904 | ) | (25,347 | ) | (144,707 | ) | (70,488 | ) | |||||
| Profit/(loss) before tax | (57,372 | ) | (98,178 | ) | (185,946 | ) | (335,857 | ) | |||||
| Income taxes (expenses) | (3,617 | ) | (1,020 | ) | (8,526 | ) | (3,758 | ) | |||||
| Net profit/(loss) for the period | (60,989 | ) | (99,198 | ) | (194,472 | ) | (339,615 | ) | |||||
| Attributable to owners of the Company | (60,989 | ) | (99,198 | ) | (194,472 | ) | (339,615 | ) | |||||
| Basic earnings/(loss) per share | (1.00 | ) | (1.72 | ) | (3.22 | ) | (5.93 | ) | |||||
| Diluted earnings/(loss) per share | (1.00 | ) | (1.72 | ) | (3.22 | ) | (5.93 | ) | |||||
| Consolidated Statement of Comprehensive Income or (Loss) | |||||||||||||
| Net profit/(loss) for the period | (60,989 | ) | (99,198 | ) | (194,472 | ) | (339,615 | ) | |||||
| Other comprehensive income/(loss) | |||||||||||||
| Items that may be reclassified subsequently to profit or (loss): | |||||||||||||
| Exchange differences on translating foreign operations | (1,574 | ) | 154 | (3,048 | ) | 232 | |||||||
| Other comprehensive income/(loss) for the period, net of tax | (1,574 | ) | 154 | (3,048 | ) | 232 | |||||||
| Total comprehensive income/(loss) for the period, net of tax | (62,563 | ) | (99,044 | ) | (197,520 | ) | (339,383 | ) | |||||
| Attributable to owners of the Company | (62,563 | ) | (99,044 | ) | (197,520 | ) | (339,383 | ) |
| Ascendis Pharma A/SConsolidated Statements of Financial Position | |||||||
| (In EUR'000s) | September 30,2025 | December 31,2024 | |||||
| Assets | |||||||
| Non-current assets | |||||||
| Intangible assets | 3,742 | 4,028 | |||||
| Property, plant and equipment | 101,764 | 98,714 | |||||
| Investments in associates | 28,303 | 13,575 | |||||
| Other receivables | 3,160 | 2,317 | |||||
| 136,969 | 118,634 | ||||||
| Current assets | |||||||
| Inventories | 302,022 | 295,609 | |||||
| Trade receivables | 134,734 | 166,280 | |||||
| Income tax receivables | 2,936 | 1,775 | |||||
| Other receivables | 9,580 | 9,385 | |||||
| Prepayments | 29,417 | 28,269 | |||||
| Cash and cash equivalents | 539,092 | 559,543 | |||||
| 1,017,781 | 1,060,861 | ||||||
| Total assets | 1,154,750 | 1,179,495 | |||||
| Equity and liabilities | |||||||
| Equity | |||||||
| Share capital | 8,284 | 8,149 | |||||
| Distributable equity | (182,359 | ) | (113,855 | ) | |||
| Total equity | (174,075 | ) | (105,706 | ) | |||
| Non-current liabilities | |||||||
| Borrowings | 331,369 | 365,080 | |||||
| Contract liabilities | 692 | 5,000 | |||||
| Deferred tax liabilities | 10,280 | 7,258 | |||||
| 342,341 | 377,338 | ||||||
| Current liabilities | |||||||
| Convertible notes, matures in April 2028 | |||||||
| Borrowings | 426,241 | 458,207 | |||||
| Derivative liabilities | 233,761 | 150,670 | |||||
| 660,002 | 608,877 | ||||||
| Other current liabilities | |||||||
| Borrowings | 56,040 | 33,329 | |||||
| Contract liabilities | 4,160 | 936 | |||||
| Trade payables and accrued expenses | 78,601 | 96,394 | |||||
| Other liabilities | 48,295 | 67,956 | |||||
| Income tax payables | 1,610 | 1,222 | |||||
| Provisions | 137,776 | 99,149 | |||||
| 326,482 | 298,986 | ||||||
| 986,484 | 907,863 | ||||||
| Total liabilities | 1,328,825 | 1,285,201 | |||||
| Total equity and liabilities | 1,154,750 | 1,179,495 |