Ascendis Pharma A/S (ASND) shares surged 6.03% in after-hours trading on Wednesday, following the company's better-than-expected fourth quarter 2024 earnings and revenue fueled by robust sales of its products SKYTROFA and YORVIPATH.
The Danish drugmaker announced a share repurchase program of up to $18.25 million to buy back its American Depositary Shares (ADSs). It also plans to net settle certain Restricted Stock Units (RSUs) for around $9 million, preserving a total of approximately 200,000 ADSs held as treasury shares.
Ascendis reported Q4 2024 revenue of €173.9 million, beating estimates of €111.2 million, driven by strong demand for its growth hormone deficiency treatment SKYTROFA and hypoparathyroidism drug YORVIPATH. The company expressed confidence in continued strong revenue growth, aided by potential label expansions and new product launches in the pipeline, including its TransCon CNP drug for achondroplasia in children.
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