Ascendis Pharma ticks down after pricing $400 mln equity offering

Ascendant Resources

02/09/2021 13:57

** U.S-listed shares of Ascendis  ASND.O  down fractionally
premarket after Danish biopharma prices follow-on
    ** Co late Weds announced sale of 2.5 mln American
depositary shares (ADSs) at $160 for $400 mln gross raise
 urn:newsml:reuters.com:*:nGNXcT2wt
    ** Offering prices at 3.5% discount to stock's last sale
    ** Stock has risen 34% over the past week since U.S. FDA
approved co's growth hormone therapy, Skytrofa, for pediatric
patients  urn:newsml:reuters.com:*:nL4N2PX3CI
    ** JP Morgan, Morgan Stanley, Evercore and SVB Leerink
leading the equity offering
    ** Co has ~53.9 mln shares outstanding for ~$9 bln market
cap
    ** YTD, ASND essentially flat through Weds close

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))