SVB sees blockbuster revenue from Ascendis Pharma's endocrine disorder therapy

Ascendis Pharma A/S

17/01/2023 16:34

** Brokerage SVB Securities raises PT on Danish biopharma co
Ascendis Pharma A/S  ASND.O  to $163 from $148 
    ** SVB, based on a survey it commissioned, sees ASND's
experimental therapy, TransCon PTH, in hypoparathyroidism
treatment, to address a significant market opportunity that
could support blockbuster revenue
    ** Hypoparathyroidism is a rare endocrine disorder
characterized by insufficient levels of parathyroid hormone
(PTH), resulting in low calcium and elevated phosphate levels in
the blood
    ** PTH regulates calcium levels in the blood and helps in
bone building 
    ** SVB raises peak sales estimate for the therapy to about
1.25 bln euros ($1.36 bln) from 950 thousand euros ($1.03 mln),
but says the magnitude of its market uptake could be dictated by
how ASND executes its launch
    ** Adds ASND could generate higher sales of TransCon PTH vs
Japan's Takeda Pharmaceutical's  4502.T   'lackluster' Naptara
sales 
    ** U.S. FDA last year granted priority review to TransCon
and has set a target action date of April 30, 2023
    ** U.S.-listed shares of ASND now up 5.1% at $120.9; In
2022, stock fell 9.2% 
   ($1 = 0.9206 euros) 
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))