HomeTop MoversHere’s to why Ascendis Pharma Inc. (ASND) stock soars during after-hour trading?

Here’s to why Ascendis Pharma Inc. (ASND) stock soars during after-hour trading?

Ascendis Pharma Inc. (NASDAQ: ASND) stock gained by 1.57% at last close as well as the ASND stock-price surges by 22.51% in the after-hours trading session. Ascendis Pharma is using its cutting-edge platform technology to create a premier, fully integrated biopharmaceutical firm dedicated to improving the lives of patients.

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ASND stock’ Financial Highlights

Ascendis Pharma announced its second-quarter 2021 financial results, of which the summary is given below:

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  • Ascendis Pharma posted a net loss of €134.4 million, or €2.50 per share (basic and diluted), for the second quarter of 2021 whereas the net loss for second quarter 2020 was €94.9 million, or €1.97 per share (basic and diluted).
  • For second-quarter 2021 revenue was €1.0 million, down from €1.4 million in the second quarter of 2020.
  • The second quarter’s research and development (R&D) expenses were €83.3 million, up from €63.6 million in the same quarter of 2020. Higher R&D expenditures in 2021 represent a rise in the company’s product candidates’ external production costs as well as personnel-related costs.
  • In the second quarter, selling, general, and administrative costs were €35.3 million, up from €20.8 million in the same time in 2020. Higher personnel-related expenses and a rise in IT costs are the main reasons for the increase.
  • The second quarter’s net loss of associate was €4.8 million, relative to a net loss of €1.9 million in the same time in 2020. ASND’ part of the net result from VISEN is shown by the net loss of affiliate.

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. Other Significant Development

The US Food and Drug Administration has authorized Ascendis Pharma’s SKYTROFA (lonapegsomatropin-tcgd) for the cure of pediatric children aged one year and above who weigh at least 11.5 kg (25.4 lb) and have growth failure due to insufficient endogenous growth hormone production.

SKYTROFA is the first FDA-approved medication to administer somatropin (growth hormone) over a one-week period as a once-weekly injection. The new SKYTROFA® Auto-Injector and cartridges have received FDA clearance, allowing families to store the medicine at room temperature for up to six months after first removing it from the refrigerator. Instead of getting a daily dose of injection, if the individual gets it weekly, the chances are that he will see up to 86% less injections days per year.

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