Ascendis Pharma A/S(NASDAQ: ASND ) stock slightly recovered by 0.3% on November 17th, 2017 (As of 11:11AM EST; Source: Google finance) post a weak start this morning.
The group delivered a net loss of €33.9 million, or €1.04 per share (basic and diluted) during the third quarter of 2017 from a net loss of €18.3 million, or €0.72 per share (basic and diluted) in the prior corresponding period in 2016.
The group is developing a high-value diverse pipeline and aiming for a higher probability of success against the traditional drug development. The group formed an internal pipeline with a better chance of success from the traditional drug development.
The Continued the enrollment of subjects in the phase 3 heiGHt Trial for TransCon Growth Hormone in pediatric growth hormone deficiency. They also dosed the first subjects in a phase 1 trial for TransCon PTH. The single and multiple ascending dose trial is designed to evaluate the safety, tolerability, pharmacodynamics, and pharmacokinetics of TransCon PTH in healthy adults. The group believes that their TransCon Growth Hormone is built on delivering the same active growth hormone as daily growth hormone. Accordingly they are developing TransCon Growth Hormone to have comparable clinical benefit as daily growth hormone with optimal product feature and an easy to remember once-weekly administration. The group’s TransCon technology is replacing the native CNP molecule as a pharmaceutical product, including its short half-life of 2 to 3 minutes.
The group started a Phase 1 clinical trial in Australia which would evaluate the safety, tolerability, pharmacodynamics and pharmacokinetics of TransCon PTH in healthy adults. The trial is studying ascending single doses and multiple daily doses of TransCon PTH. The group forecasts their pharmacodynamic and pharmacokinetic data to share in the first quarter of 2018.
Ascendis Pharma finished an underwritten public offering of 3,800,000 American Depositary Shares (ADSs) to raise €107.1 million. They have a cash and cash equivalents of €206.3 million on a reported basis, or €222.5 million on a pro forma basis.