Ascendis Pharma Cuts Full Year 2024 SKYTROFA Revenue Outlook From €320M - €340M To €220M - €240M
Portfolio Pulse from Benzinga Newsdesk
Ascendis Pharma has revised its full-year 2024 revenue outlook for SKYTROFA from €320M-€340M to €220M-€240M. The company's cash reserves have decreased from €399M to €259M over six months. The launch of YORVIPATH in the U.S. is pending, with expectations to reach cash flow breakeven in 2024 or 2025.
September 03, 2024 | 9:12 pm
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Ascendis Pharma has lowered its 2024 revenue forecast for SKYTROFA, indicating potential challenges in sales. The company's cash reserves have significantly decreased, and the timing of the YORVIPATH launch in the U.S. remains uncertain, affecting financial stability.
The downward revision of the revenue outlook for SKYTROFA suggests weaker than expected sales, which is a negative indicator for Ascendis Pharma's financial performance. The decrease in cash reserves from €399M to €259M over six months highlights financial strain. Additionally, the uncertainty surrounding the U.S. launch of YORVIPATH adds to the risk, potentially delaying the company's goal of achieving cash flow breakeven.
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