Ascendis Pharma A/S (NASDAQ: ASND) stock slightly rose over 0.3% on 29th August, 2019 (As of 11:54 am GMT-4; Source: Google finance) on mixed second quarter of FY 19. ASND ended the second quarter with cash and cash equivalents of EUR690.4 million and 47,545,204 ordinary shares outstanding. Revenue for the second quarter was €3.2 million compared to €18 thousand in the same quarter of 2018. The increase reflects recognition of revenue related to our strategic investment in VISEN Pharmaceuticals.
The firm has reported a net loss of EUR58.9 million or EUR1.25 per basic in diluted share compared to a net loss of EUR22.8 million or EUR0.55 per basic and diluted share during the same period in 2018.
Research and development costs for the second quarter were EUR43.8 million compared to EUR40.2 million during the same period in 2018. For TransCon Growth Hormone, costs were lower primarily due to a decline in manufacturing and clinical trial costs following the completion of our Phase III heiGHt Trial.
For TransCon PTH, costs were slightly lower, primarily due to a decline in costs for pre-clinical research and constant develop the pen [Phonetic] device, which were partially offset by higher costs associated with the Phase II clinical trial. For TransCon [Indecipherable] the costs were slightly higher, primarily due to an increase in manufacturing costs and clinical trial costs related to the achieve study and accomplished trial, which were partially offset by lower pre-clinical costs.
Meanwhile, ASND has completed filing of an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) for initiation of the ACcomplisH Trial, a global, phase 2, randomized, double-blind, placebo-controlled trial designed to evaluate the safety and efficacy of TransCon CNP at escalating doses in children with achondroplasia (ACH).
Going forward, the company plan to complete long-term follow-up for TransCon hGH this fall as agreed to with FDA and EMA as the company progress toward a BLA filing in the first half of next year. Continued growth of the endocrinology rare disease pipeline through label expansion of TransCon hGH into adult GHD and initiation of the Phase III trial of TransCon hGH in China through VISEN Pharmaceuticals. The company will report Phase II TransCon PTH data by year end continue executing on the TransCon CNP accomplished trial as the company march toward discovering an effective dose in 2020. Advance oncology product candidates toward first IND or similar filing in 2020 and continue to expand the global reach for the endocrinology rare disease pipeline.