Ascendis Pharma slips after $300 mln share offering launch

BioMarin Pharmaceutical

18/09/2024 21:29

** U.S.-listed shares of Ascendis Pharma  ASND.O  down 4.3%
at $142.50 in extended trading as co seeks equity raise
    ** Denmark-based biopharma announces $300 mln offering of
American depositary shares (ADSs)
    ** JP Morgan, Morgan Stanley, Evercore and Goldman Sachs are
jt bookrunners
    ** On Mon, ASND shares closed up ~17% at $139.57 after co
said its achondroplasia therapy TransCon CNP met main goal in
trial to treat dwarfism
    ** Shares finished 1.6% higher at $148.88 on Weds
    ** With ~58.2 mln shares outstanding, co has roughly $8.7
bln market value, per LSEG data
    ** U.S.-listed shares up ~18% YTD and up about 50% over the
past 12 months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))