ASND Stock — Ascendis Pharma A/S: Cash, EV, Pipeline

What they do

Ascendis Pharma is a biopharmaceutical company with two marketed products and a diversified portfolio of four product candidates in clinical development in endocrinology, rare disease and oncology, based on its TransCon technology platform.

Source: 20-F FY2025 via SEC EDGAR

Share price

$259.41

Market cap

$17,091.1M

Cash

$693.2M

Enterprise value

$17,208.4M

Balance sheet

Cash	$693.2M
Debt	$810.5M
Net cash	-$117.3M
Enterprise value	$17,208.4M
Basic shares	62.0M shares
Fully diluted shares	72.0M shares
Fully diluted market cap	$18,678.0M
Cash per share	$11.18

Cash figures as of 2025-12-31. Database snapshot: 2026-11-10.

Share structure

Common

62.0M

Pre-funded warrants

0.0M

Options

5.2M

RSUs

1.3M

Warrants

0.0M

Converts

3.5M

Conv preferred

0.0M

ESPP reserve

—

FDSO

72.0M

Cap table as of 2025-12-31.

Price history

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Next catalyst

YUVIWEL (navepegritide) · Est. Nov 15, 2026 · quarter midpoint · guided Now

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 15, 2026 Now quarter midpoint	YUVIWEL (navepegritide) EU Marketing Authorisation Application in achondroplasia	Not disclosed	achondroplasia	Q4 2026
Jul 13 - Aug 24 in 8 mo	Palopegteriparatide Experimental Arm	Phase 3	Hypoparathyroidism; Endocrine System Diseases; Parathyroid Diseases	—
Sep 12 - Oct 24 in 10 mo	Pembrolizumab	Phase 2	Advanced Solid Tumor; Locally Advanced Solid Tumor; Metastatic Solid Tumor	—
Sep 12 - Oct 24 in 10 mo	Navepegritide	Phase 2	Achondroplasia	—
Jan 12 - Feb 23 in 14 mo	Navepegritide	Phase 2	Achondroplasia	—
Feb 12 - Mar 26 in 149 mo	TransCon CNP	Phase 3	Achondroplasia	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

YORVIPATH

Approved · Active Modality: prodrug of PTH (1-34) (TransCon; once-daily)

Aliases palopegteriparatide, TransCon PTH

Target PTH receptor (PTH 1-34 prodrug)

Partnerships Teijin Limited (Japan: commercially available since November 2025); VISEN Pharmaceuticals (Greater China); SKYTROFA/VISEN collaboration

Indications

Hypoparathyroidism in adults (Approved)

Status note Approved by FDA August 9, 2024 and authorized by EC November 2023 for treatment of adults with hypoparathyroidism. Commercially available in the U.S. since December 2024; also authorized by other regulatory agencies globally.

SKYTROFA

Approved · Active Modality: long-acting prodrug of human growth hormone (TransCon; once-weekly)

Aliases lonapegsomatropin-tcgd, TransCon hGH

Target growth hormone receptor

Partnerships VISEN Pharmaceuticals (Greater China; authorized in China January 2026); Teijin Limited (Japan, endocrinology rare diseases)

Indications

Growth hormone deficiency (pediatric patients one year and older) (Approved)
Growth hormone deficiency (adults) (Approved)
Turner syndrome (children) (Stage not disclosed)

Status note FDA approved August 25, 2021 for pediatric GHD and July 25, 2025 for adult GHD; EC marketing authorization January 2022 for children and adolescents 3-18 with GHD. TransCon hGH also in development for children with Turner syndrome and other established daily growth hormone indications.

TransCon CNP

Phase 3 · Active Modality: prodrug of C-type natriuretic peptide (TransCon)

Aliases navepegritide, TransCon CNP

Target NPR-B (CNP receptor)

Partnerships Teijin Limited (Japan); VISEN Pharmaceuticals (Greater China); combination of TransCon CNP and TransCon hGH under investigation

Indications

Achondroplasia (children) (Phase 3)
Achondroplasia (infants, children, adolescents; alone and in combination with TransCon hGH) (Stage not disclosed)
Hypochondroplasia (children; alone and in combination with TransCon hGH) (Stage not disclosed)

Status note Currently under regulatory review in the United States and European Union for the treatment of children with achondroplasia (NDA pending; company responded to the FDA in September 2025 regarding a Citizen Petition). Also being investigated for achondroplasia in infants, children and adolescents and for hypochondroplasia, alone and in combination with TransCon hGH.

TransCon IL-2

Phase 1 · Active Modality: long-acting IL-2 variant prodrug (TransCon; systemic delivery)

Aliases onvapegleukin alfa, TransCon IL-2 b/g

Target IL-2 beta/gamma

Indications

Locally advanced or metastatic solid tumors (Phase 1)

Status note IL-Believe Phase 1/2 trial in locally advanced or metastatic solid tumors, alone or in combination, including a cohort combining with chemotherapy.

TransCon TLR7/8 Agonist

Phase 1 · Active Modality: long-acting prodrug of resiquimod (TransCon; intratumoral delivery)

Aliases TransCon TLR7/8

Target Toll-like receptors 7 and 8

Indications

Solid tumors (intratumoral) (Phase 1)

Status note Long-acting prodrug of resiquimod. In Q4 2024 the company closed enrollment in the BelieveIT-201 trial and dose expansion cohorts in the transcendIT-101 and IL-Believe trials to prioritize efforts on TransCon IL-2.

Per-asset detail extracted from the 20-F filed 2026-02-11. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Palopegteriparatide Experimental Arm
Lead indication	Hypoparathyroidism
Lead phase	Phase 3
Active trials	13

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07081997	Phase 3	Recruiting	Sponsor	ASND	—	Hypoparathyroidism; Endocrine System Diseases; Parathyroid Diseases	—
NCT07706764	Phase 3	Recruiting	Sponsor	ASND	—	Hypoparathyroidism	—
NCT07221851	Phase 3	Recruiting	Sponsor	ASND	—	Turner Syndrome; Short Stature Homeobox Gene Mutation; Idiopathic Short Stature	—
NCT05929807	Phase 3	Enrolling by invitation	Sponsor	ASND	—	Achondroplasia	—
NCT05081609	Phase 2	Active, not recruiting	Sponsor	ASND	—	Advanced Solid Tumor; Locally Advanced Solid Tumor; Metastatic Solid Tumor	—
NCT06732895	Phase 2	Recruiting	Sponsor	ASND	—	Achondroplasia	Q4 2026 Est. Nov 15, 2026 · quarter midpoint
NCT06079398	Phase 2	Recruiting	Sponsor	ASND	—	Achondroplasia	—
NCT05690386	Phase 2	Active, not recruiting	Sponsor	ASND	—	Turner Syndrome	—
NCT06433557	Phase 2	Active, not recruiting	Sponsor	ASND	—	Achondroplasia	Q4 2026
NCT07264634	Not disclosed	Recruiting	Sponsor	ASND	—	Hypoparathyroidism	—
NCT05775523	Not disclosed	Recruiting	Sponsor	ASND	—	Growth Hormone Deficiency	—
NCT05820672	Not disclosed	Recruiting	Sponsor	ASND	—	Growth Hormone Deficiency	—

Sponsor-matched active trials from ClinicalTrials.gov (13 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 13 active trials for Ascendis Pharma Bone Diseases A/S on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RA Capital Management	10,281,496	no change	23.83%	2026-08-14
Avoro Capital Advisors	5,111,111	+48,611	12.24%	2026-08-14
Perceptive Advisors	1,163,721	-367,700	4.82%	2026-08-14
OrbiMed Advisors	244,456	+62,479	1.24%	2026-08-14
Frazier Life Sciences	225,155	+91,822	1.31%	2026-08-14
Cormorant Asset Management	50,000	-45,000	0.68%	2026-08-14
DAFNA Capital	48,469	-3,974,708	2.47%	2026-08-14
ADAR1 Capital Management	28,604	+3,590	0.36%	2026-08-14
Sphera Biotech	0	-8,000	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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ASND — Ascendis Pharma A/S ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

ASND — Ascendis Pharma A/S