Ascendis Pharma A/S Q3 FY2025 earnings call

• Eurvipath: Strong global launch with revenue of €143M in Q3, over 4,250 patients prescribed in US by over 2,000 providers, expanding physician reach, working on patient access with ~70% insurance approval rate.
• Growth Disorders: Skytrofa approved in US for adult growth hormone deficiency, TransCon CNP under review by FDA with PDUFA date Nov 30, Phase 3 basket trial of Skytrofa initiated, TransCon CNP showed positive results in leg bowing, spinal canal dimension, etc.
• Financials: Achieved positive operating income and cash flow in Q3, commercial organization built out, label expansion LCM activities initiated, R&D advancing TransCon technology platform.

Eurvipath had Q3 revenue of €143 million, with over 4,250 patients prescribed in the US by over 2,000 unique healthcare providers by the end of Q3. Skytrofa had Q3 revenue of €51 million, approved for pediatric and adult growth hormone deficiency. Eurvipath contributes significantly to revenue with its strong global launch, while Skytrofa is established as a high-value brand for pediatric growth hormone deficiency.

• Eurvipath: Expect continued revenue growth in Q4 driven by new patients, stable pricing, payer mix, and contracting; longer term, driven by new patients on therapy and expansion into additional markets.
• Skytrofa: Sequential revenue growth to track prescription growth with stable pricing, payer mix, and no contracting changes; longer term, driven by geographic and label expansion.

Q: Jessica Macomber Fye asks about new patient enrollments on Eurvipath in the US.

A: Jan Moller Mikkelsen says steady stable prescriptions, positive on Q4 with more prescribers.

Q: Tazeen Ahmad asks about seasonality and TransCon CNP review.

A: Jan says no requests from agency, positive on Q4 with more prescribers.

Q: Gavin Clark-Gartner asks about Eurvipath conversion rate.

A: Jan says conversion rate matures over time, higher than 70% for early cohorts.

Q: Joseph Schwartz asks about Eurvipath penetration and TransCon CNP label.

A: Jan talks about patient segments and ongoing label discussions.

Q: Li Watsek asks about Eurvipath payer mix and TransCon CNP phase three.

A: Jay and Aimee respond on payer mix and FDA review.

Q: Yaron Benjamin Werber asks about gross to net and TransCon CNP.

A: Scott T. Smith and Jan respond on gross to net and FDA review.

Q: Martin Auster asks about Eurvipath patient retention and TransCon CNP commercial.

A: Jan talks about retention and switch strategies.

Q: Paul Choi asks about TransCon CNP commercial strategy.

A: Jan says expect switches from existing patients.

Q: Yun Zhong asks about label extension and payer approval.

A: Jan and Aimee talk about label extension and improving payer approval time.

Q: Alexander Thompson asks about adolescent hypoparathyroid patients.

A: Jan talks about severity and impact.

Q: Luca Issi asks about enrollment metric and Novo Nordisk collaboration.

A: Scott T. Smith and Jan talk about enrollment metric and ongoing collaboration.

Q: Maxwell Nathan Skor asks about Eurvipath weekly dosing data and Europe trajectory.

A: Jan and Scott talk about data timeline and Europe expansion.

Q: Clara Dong asks about US and ex-US revenue split and international pricing.

A: Jan talks about revenue split and international expansion plans.