Ascendis Pharma (ASND) Q1 2026 earnings summary

Executive summary

• Achieved FDA approval and U.S. launch of YUVIWEL, with over 60 enrollments within weeks, driving rapid revenue growth and profitability.

• Diversified portfolio now includes three approved products across four rare endocrine indications, with commercial presence in over 35 countries.

• Over 20 ongoing or planned clinical trials, including four new chemical entities in preclinical development.

• Entered agreement to sell Rare Pediatric Disease Priority Review Voucher for $187.5 million.

• Discontinued internal oncology development for TransCon IL-2 beta/gamma to focus on core strategy.

Financial highlights

• Q1 2026 total revenue reached EUR 247 million, up from EUR 101 million year-over-year, mainly from YORVIPATH.

• YORVIPATH global revenue was EUR 197 million, impacted by EUR 15 million in one-time items.

• SKYTROFA contributed EUR 44 million in Q1, reflecting steady demand and ongoing clinical trials.

• Operating profit was EUR 25 million (10% margin); non-IFRS operating profit EUR 55 million (22% margin).

• Net profit was EUR 629 million, including a EUR 679 million deferred tax asset; non-IFRS net profit EUR 18 million.

• Ended Q1 with EUR 573 million in cash and equivalents, after share repurchases and RSU settlements.

Outlook and guidance

• Expect continued steady growth for YORVIPATH as one-time Q1 factors reverse in Q2.

• EMA decision on YUVIWEL expected Q4 2026; label expansion trial in infants ongoing.

• Early YUVIWEL demand is strong; further updates to be provided in Q2.

• Phase 3 trial for TransCon CNP in hypochondroplasia planned for H2 2026.

• Guidance update, including operating cash flow targets, to be provided after Q2.