Ascendis Pharma Introduces Vision 2030; Preliminary Unaudited December 31, 2023 Cash, Cash Equivalents, And Marketable Securities Of ~€400M; Full Year 2024 SKYTROFA Revenue Expected To Be €320M-€340M
Portfolio Pulse from Benzinga Newsdesk
Ascendis Pharma A/S (NASDAQ:ASND) introduced Vision 2030 and selected 2024 corporate milestones. The company expects ~€400M in cash and securities as of December 31, 2023, and forecasts 2024 SKYTROFA revenue of €320M-€340M. SKYTROFA is approved in the U.S. and EU for growth hormone deficiency. Ascendis plans to submit applications for other products in 2024 and aims to achieve blockbuster status for multiple products. The company will present at the J.P. Morgan Healthcare Conference and expects to be operating cash flow breakeven by end of 2024.
January 08, 2024 | 1:16 am
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Ascendis Pharma expects significant revenue from SKYTROFA in 2024 and aims for blockbuster status for multiple products by 2030. The company will present at the J.P. Morgan Healthcare Conference and is on track to be cash flow breakeven by the end of 2024.
The positive revenue forecast for SKYTROFA and the strategic Vision 2030 indicate strong growth prospects for Ascendis Pharma. The announcement of expected breakeven cash flow by the end of 2024 and the presentation at a major healthcare conference may boost investor confidence, potentially leading to a short-term positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100