On Wednesday, Ascendis Pharma (NASDAQ:ASND) reported a fourth-quarter EPS loss of 64 cents, beating the consensus loss of 1.07 euros.
Total revenue for the fourth quarter of 2024 was 173.9 million euros, beating the consensus of 111.178 million euros compared to 137.7 million euros reported a year ago.
The increase was primarily due to Novo Nordisk A/S’s (NYSE:NVO) $100 million upfront fee and the EU launch of Yorvipath.
TransCon hGH (lonapegsomatropin, marketed as Skytrofa) sales reached 58.5 million euros.
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TransCon PTH (palopegteriparatide, marketed as Yorvipath) revenue for the fourth quarter of 2024 totaled €13.6 million.
The company reported a strong start to the U.S. Yorvipath launch, with 908 prescriptions as of February 7, 2025, and 539 unique prescribing health care providers.
As of December 31, 2024, cash and cash equivalents totaled 559.5 million euros. Including the $100 million upfront payment, cash at the end of 2024 would have totaled 655 million euros.
Concurrently, Ascendis Pharma's board authorized the repurchase of up to $18.25 million shares.
Goldman Sachs analyst writes that Yorvipath has only been available in the U.S. for a few months, but early prescription trends have been strong and widespread. However, insurance coverage and reimbursement challenges may slow revenue growth in the short term.
Looking ahead, analyst Paul Choi writes investors will likely focus on the company's progress toward achieving breakeven cash flow and key milestones, including:
With Yorvipath showing potential for a strong launch in 2025, Goldman Sachs maintains the Buy rating and raises the price target to $225 from $200.
Price Action: ASND stock is up 15.8% at $146.08 at last check Thursday.
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