Q2 2024 Ascendis Pharma A/S Earnings Call Transcript
Key Points
- Ascendis Pharma A/S (ASND) received FDA approval for YORVIPATH, the first and only treatment for hypoparathyroidism in adults.
- TransCon Growth Hormone (TransCon hGH) is approved in both the US and EU for pediatric growth hormone deficiency.
- SKYTROFA volume more than doubled in Q2 2024 compared to the same period last year.
- YORVIPATH patient retention rate is extremely strong at around 98%.
- The company is expanding its pipeline into new therapeutic areas such as oncology, obesity, metabolic disease, and cardiovascular.
- SKYTROFA reported revenue decreased by 27% year-over-year due to higher sales deductions and adjustments.
- Total operating expenses for Q2 2024 were EUR157.8 million, a 10% decrease compared to the same period in 2023, but still substantial.
- Net finance income can fluctuate significantly quarter-to-quarter, impacting financial stability.
- Cash, cash equivalents, and marketable securities decreased to EUR259 million from EUR399 million as of December 31, 2023.
- The company had to enter into a new capped synthetic royalty funding agreement with Royalty Pharma for USD150 million, indicating a need for additional capital.
Hello. Thank you for standing by. Welcome to Ascendis Pharma second quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. (Operator Instructions)
I would now like to turn the call over to Tim Lee, Senior Director of Investor Relations.
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Thank you, operator, and thank you, everyone, for joining our second quarter 2024 financial results conference call. We apologize for the delay due to some technical issues that we had here.
I'm Tim Lee, Senior Director, Investor Relations at Ascendis Pharma. Joining me on the call today are Jan Mikkelsen, President and Chief Executive Officer; Scott Smith, Executive Vice President and Chief Financial Officer; Dr. Stina Singel, Executive Vice President and Head of Clinical Development, Oncology; Camilla Harder Hartvig, Executive Vice President and Global Chief Commercial Officer; and
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