- U.S.-listed shares of Ascendis Pharma ( ASND ) gained 7% to $101.82, after the Danish biotech reported Q2 results that beat estimates, helped by a surge in sales of growth hormone drug Skytrofa.
- ASND posted Q2 GAAP EPS of -€1.46 which beat expectations by €0.69 . Its Q2 revenue of €6.16M beat by €6.15M .
- Sales of Skytrofa continued to double quarter-to-quarter, reaching €4.4M in Q2, compared to €1.9M in Q1 2022 and €0.9M in Q4 2021.
- The performance of the hormone drug helped overall quarterly revenue rise about six times from a year ago.
- Q2 revenue also included license, clinical supply and services provided to third parties, primarily Visen Pharmaceuticals.
- ASND's Q2 net loss narrowed, with loss attributable to the owners of the company coming in at €81.32M from €134.37M a year ago.
- Cash, cash equivalents and marketable securities as of Jun 30 were €994.9M, compared to €789.6M as of Dec. 31, 2021.
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Ascendis Pharma Q2 results beat buoyed by strong sales of growth hormone drug Skytrofa