TransCon IL-2 B/y

January 09, 2026 — Ascendis Pharma A/S (Nasdaq: ASND) provided a business and strategic roadmap update ahead of its presentation at the 44th Annual J.P. Morgan Healthcare Conference (Jan 12, 2026), outlining 2026 corporate milestones and preliminary unaudited 2025 financials.

Key commercial updates: TransCon PTH (palopegteriparatide; YORVIPATH) preliminary revenue is expected to be ~€187M (Q4 2025) and ~€477M (FY 2025), with >5,300 unique U.S. patient enrollments and availability in >30 countries; 10 additional country launches are anticipated by end-2026. TransCon hGH (lonapegsomatropin; SKYTROFA) preliminary revenue is expected to be ~€53M (Q4) and ~€206M (FY); FDA approved an adult GHD label expansion in July 2025, and a Phase 3 basket trial was initiated (ISS, SHOX deficiency, Turner syndrome, SGA).

Pipeline/regulatory: TransCon CNP (navepegritide) has a U.S. PDUFA date of Feb 28, 2026 for pediatric achondroplasia; EMA decision is anticipated in Q4 2026. Phase 2 COACH combination (TransCon CNP + TransCon hGH) showed Week 52 topline improvements in growth metrics with safety consistent with monotherapies; Week 78 data are expected in Q2 2026.

Financial/business significance: FY 2025 product revenue is projected at ~€683M (total revenue ~€720M), gross margin ~87%, operating expenses ~€762M, and cash ~€616M (Dec 31, 2025). Ascendis expects ~€500M operating cash flow in 2026 (excluding TransCon CNP contribution) and authorized a planned $120M share repurchase program.