Ascendis Pharma Reports Third Quarter 2022 Financial Results SKYTROFA U.S. revenue more than doubled quarter-to-quarter again, reaching 12.3 million in the third quarter FDA accepted for Priority Review TransCon PTH NDA

Ascendis Pharma Reports Third Quarter 2022 Financial Results

SKYTROFA U.S. revenue more than doubled quarter-to-quarter again, reaching 12.3 million in the third quarter

FDA accepted for Priority Review TransCon PTH NDA in adult

patients with hypoparathyroidism; target action PDUFA date is April 30, 2023

Announced selection of Phase

2 recommended dose of TransCon TLR7/8 Agonist; first-in-human data accepted for oral presentation at SITC 2022

Conference call today at 4:30 pm ET

COPENHAGEN, Denmark, November 2, 2022 (GLOBE NEWSWIRE) Ascendis Pharma A/S (Nasdaq: ASND) today announced financial results

for the third quarter ended September 30, 2022 and provided a business update.

With our improved commercial execution and emphasis on

SKYTROFA s unique patient-focused product strengths, I believe we are advancing our goal to build SKYTROFA into the leading brand and expand the pediatric growth hormone market, said Jan Mikkelsen, Ascendis Pharma s President and

Chief Executive Officer. With our expanding global commercial activities, potential U.S. approval of TransCon PTH in April 2023, and new data expected in achondroplasia and oncology, I am confident in our ability to deliver multiple high-value

products to drive long-term sustainable growth.

Third Quarter 2022 Financial Results

Total revenue for the third quarter was 15.3 million compared to 1.1 million in the same quarter of 2021. Revenue included U.S. revenue

from SKYTROFA, as well as license, clinical supply and services provided to third parties, primarily VISEN Pharmaceuticals. The increase in revenue compared to the same period last year was primarily attributable to the 12.3 million

commercial revenue from SKYTROFA.

Research and development (R&D) costs for the third quarter were 97.4 million compared to

58.8 million during the same period in 2021. Lower R&D costs in the third quarter of 2021 reflect a one-time 53.7 million reversal of

pre-launch inventories, which had previously been recognized as research and development costs. The third quarter 2022 R&D costs also reflect the manufacturing of

pre-launch inventories for TransCon PTH and an increase in employee and other costs attributable to organizational growth.

Selling, general, and administrative (SG&A) expenses for the third quarter were 60.7 million

compared to 39.3 million during the same period in 2021. Higher SG&A expenses were primarily due to an increase in commercial and administrative personnel following the launch of SKYTROFA in the U.S. and preparation for future product

Our share of net loss of associate was 3.7 million in the third quarter, compared to a net loss of 3.9 million during the

same period in 2021.

Net finance loss was 20.9 million in the third quarter compared to a net finance income of 20.4 million in the

same period in 2021.

For the third quarter of 2022, Ascendis Pharma reported a net loss of 169.0 million, or 3.03 per share (basic and

diluted) compared to a net loss of 80.3 million, or 1.47 per share (basic and diluted) for the same period in 2021.

September 30, 2022, Ascendis Pharma had cash, cash equivalents, and marketable securities totaling 935.1 million compared to 789.6 million as of December 31, 2021. As of September 30, 2022, Ascendis Pharma had

57,027,240 ordinary shares outstanding.

Conference Call and Webcast Information

Ascendis Pharma will host a conference call and webcast today at 4:30 pm Eastern Time (ET) to discuss its third quarter 2022 financial results.

Those who would like to listen to the live webcast can access it through the following link here. To access the live teleconference, register online

here. Participants are encouraged to register at least 15 minutes prior to the call.

A replay of the webcast will be available on the

Investors & News section of the Ascendis Pharma website at https://investors.ascendispharma.com shortly after conclusion of the event for 30 days.

About Ascendis Pharma A/S

Ascendis Pharma is applying

its innovative TransCon platform to build a leading, fully integrated, global biopharma company focused on making a meaningful difference in patients lives. Guided by its core values of patients, science and passion, the company uses its

TransCon technologies to create new and potentially best-in-class therapies. Ascendis is headquartered in Copenhagen, Denmark, and has additional facilities in

Heidelberg and Berlin, Germany; Palo Alto and Redwood City, California; and Princeton, New Jersey. Please visit www.ascendispharma.com to learn more.

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 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) the timing and announcement of top-line results from the PaTHway Japan Trial, ACcomplisH

Trial, the transcendIT-101 Trial and the Phase 1/2 IL- elie e Trial, (ii) the timing of completion of patient enrollment in the foresiGHt Trial, ApproaCH

Trial and the IL- elie e Trial, (iii) Ascendis ability to deliver multiple high-value products and drive long-term sustainable growth, (iv) the expected launch of TransCon PTH in the

U.S. in 2023, (v) the expected launch of TransCon hGH in Europe in 2023, (vi) Ascendis expectations regarding the timing of its regulatory approvals, submissions, applications, protocols, clinical trials and the results thereof,

(vii) Ascendis ability to make SKYTROFA the leading brand and expand the growth hormone market, (viii)

Ascendis ability to apply its TransCon platform to build a leading, fully integrated global biopharma company, and (ix) Ascendis use of its TransCon technologies to create new

and potentially best-in-class therapies. 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 and distributors to supply

TransCon hGH and the SKYTROFA Auto-Injector for commercial sales in the U.S. and other study drug for clinical studies; unforeseen safety or efficacy results in its oncology programs,

TransCon hGH, TransCon PTH and TransCon CNP or other development programs; unforeseen expenses related to commercialization of TransCon hGH in the U.S., the co-pay program and the further development of

TransCon hGH; expenses related to the development and potential commercialization of its oncology programs, TransCon hGH, TransCon PTH and TransCon CNP or other development programs; unforeseen selling, general and administrative expenses, other

research and development expenses and Ascendis business generally; delays in the development of its oncology programs, TransCon hGH, 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; Ascendis ability to obtain additional funding, if needed, to support its business activities;

the impact of international economic, political, legal, compliance, social and business factors, including inflation, and the effects on its business from the worldwide COVID-19 pandemic and the ongoing

conflict in the region surrounding Ukraine and Russia. 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 March 2, 2022 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, and Skytrofa are trademarks owned by the Ascendis Pharma Group. November 2022 Ascendis

FINANCIAL TABLES FOLLOW

Consolidated Statements of Profit

or Loss and Comprehensive Income / (loss)

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

Consolidated Statements of Financial Position