Ascendis Pharma Reports €370 Million in Revenue and €125 Million in Operating Profit in Third Quarter
Key Facts
Ascendis Pharma reported total revenue of €370 million in the third quarter on November 12, 2026, compared with €214 million in the same period of 2025, according to its results statement. The company attributed the increase mainly to growth in global YORVIPATH sales. Net income on a non-IFRS basis was €117 million, or €1.71 per diluted share. Net income on the same basis was €24 million, or €0.40 per share, in the year-ago quarter. The results showed revenue expansion alongside improved operating profitability, while the company scheduled its results conference for the same day at 8:00 a.m. Eastern time.
Product revenue was €366 million, up 89% year over year, and was the main driver of quarterly revenue. YORVIPATH accounted for €291 million of product revenue, compared with €59 million for SKYTROFA and €16 million for YUVIWEL. YORVIPATH revenue alone rose 103% from the third quarter of 2025. The company said the treatment is commercially available or accessible through named-patient programs in more than 40 countries. Chief Executive Jan Mikkelsen described the three approved treatments for rare endocrine diseases as the foundation of the company’s transformation, pointing to indication-expansion programs, launches in new countries and global patient-access capabilities as pillars of long-term growth.
The company posted operating profit of €125 million in the third quarter, with a margin of 34%, compared with €11 million and a margin of 5% in the same period of 2025. It said YORVIPATH growth partly supported improved profitability despite higher commercial expansion expenses. Cash flow from operating activities was €189 million during the quarter. Ascendis expects this cash flow to reach at least €600 million for full-year 2026. The figures reflect an improvement in operating and cash results alongside the increase in sales, according to the company’s statement.
Cash and cash equivalents totaled €964 million on September 30, 2026, compared with €616 million on December 31, 2025. The company’s cash balance therefore increased between the two dates specified in the statement, while it recorded positive operating cash flow during the quarter. The figures place liquidity among the indicators cited by the company in its quarterly results, alongside revenue and profit. Ascendis linked its future expansion to increasing patient access, launches in new countries and developing new products efficiently. Mikkelsen said these capabilities and indication-expansion programs position the company to deliver sustainable long-term growth.
On the regulatory development front, the company expects a final European Commission decision on TransCon CNP in the fourth quarter of 2026. It plans to launch the treatment in Europe for the first time in Germany during the first quarter of 2027. It also expects preliminary pivotal data from the TransCon CNP trial in infants in the third quarter of 2027. The company said it expects to begin enrolling patients in the fourth quarter of 2026 in a Phase 3 trial of the treatment in children with achondroplasia. These timelines are among the next steps announced in the company’s third-quarter results statement.
Before the results announcement, ASND shares closed at $259.28 on November 11, 2026, according to EL7 data. The stock closed at $253.45 on November 5, then at $256.82 on November 6. It closed at $259.85 on November 9, before ending the November 10 session at $256.59. These prices show the closing levels for sessions before the date of the results statement. The available data do not include the share price after the announcement.