Ascendis Pharma Stock Down 10% As Q1 Loss Widens

Shares of Ascendis Pharma A/S (ASND) slipped over 10% on Thursday morning after the company reported a wider loss for the first quarter.

ASND is currently trading at $69.64, down $8.44 or 10.81%, on the Nasdaq. The stock opened Thursday's trading at $65.00 after closing Wednesday's trading at $78.08.

For the first quarter, Ascendis Pharma reported a loss of €125.5 million or €2.21 per share, compared to a net loss of €62.8 million, or €1.17 per share last year.

Revenues for the first quarter was €6.8 million, an increase of €6.1 million compared to €0.7 million in the same quarter of 2021. Revenues for the first quarter include U.S. commercial SKYTROFA sales, sales of clinical supplies, rendering of services, and recognition of internal profit from the license agreements with VISEN.

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