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|Ascendis Pharma A/S Announces Pricing of Public Offering of ADSs|
Ascendis estimates net proceeds from the offering to be approximately $126.1 million (assuming no exercise of the underwriters’ option to purchase additional ADSs), after deducting the underwriting commissions and estimated offering expenses. Ascendis intends to use the net proceeds of the offering to support clinical development, regulatory approval and commercial preparations for TransCon Growth Hormone, to fund development of other TransCon product candidates, including TransCon Parathyroid Hormone (PTH) and TransCon C-Type Natriuretic Peptide (CNP), to strengthen its TransCon technology and for working capital and general corporate purposes.
A registration statement relating to these securities has been filed with the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Ascendis Pharma is a biopharmaceutical company applying its TransCon technology to develop a pipeline of sustained release prodrug therapies with best-in-class profiles to address significant unmet medical needs in rare diseases.
Ascendis has a wholly-owned pipeline of rare disease endocrinology programs, including once-weekly TransCon Growth Hormone, which is currently being evaluated in the Phase 3 heiGHt Trial for children with growth hormone deficiency (GHD), TransCon PTH, a long-acting prodrug of parathyroid hormone for hypoparathyroidism currently in a Phase 1 trial, and TransCon CNP, a long-acting prodrug of C-type Natriuretic Peptide for achondroplasia. Additionally, Ascendis has multi-product collaborations with Sanofi in diabetes and Genentech in the field of ophthalmology.
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 Ascendis’ (i) expectations regarding the anticipated closing date, (ii) intended use of the net proceeds from the offering, (iii) product pipeline; and (iv) expectations regarding its ability to create therapies with best-in-class profiles. 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: risks and uncertainties related to completion of the public offering on the anticipated terms or at all, market conditions and the satisfaction of customary closing conditions related to the public offering, unforeseen safety or efficacy results in its TransCon Growth Hormone, TransCon PTH and TransCon CNP or other development programs; unforeseen expenses related to the development of TransCon Growth Hormone, TransCon PTH and TransCon CNP or other development programs, general and administrative expenses, other research and development expenses and Ascendis’ business generally; delays in the development of TransCon Growth Hormone, 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; and Ascendis’ ability to obtain additional funding, if needed, to support its business activities. 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 its business in general, see Ascendis’ current and future reports filed with, or submitted to, the