Ascendis Pharma A/S (ASND) News & EventsASNDAscendis Pharma A/S

Ascendis Pharma Stock Rises 8.0% to $267.72

Ascendis Pharma is up 8.0%, or $19.81 to $267.72.

BioMarin Enters Binding Settlement with Ascendis on Patent Disputes

BioMarin (BMRN) announced that it has entered into binding terms with Ascendis Pharma (ASND), resolving the patent and ancillary disputes pending globally, including before the U.S. International Trade Commission, or ITC, concerning Ascendis's Yuviwel. As part of the agreement, Ascendis will pay BioMarin a royalty equal to 20% of net sales of Yuviwel in the U.S., retroactive to the first commercial sale, and 18% of net sales in the European Union, Brazil and South Korea until May 2030. The scope of the settlement includes a license for BioMarin's patents that relate to Yuviwel for all current and potential indications, including achondroplasia and hypochondroplasia. It also covers the use of Yuviwel in combination with other medicines. Under the terms of the agreement, BioMarin will dismiss the pending Section 337 investigation before the ITC and the parties will resolve all claims relating to the asserted intellectual property, including litigation pending in Brazil, Denmark, Germany, South Korea and the Northern District of California.

Ascendis Pharma Q2 Revenue $339.29M Beats Expectations

Reports Q2 revenue $339.29M, consensus $329.9M. "Our patient focus has driven achievement of important milestones and strong demand for our TransCon products as Ascendis continues to transform into a leading biopharma company," said Jan Mikkelsen, President and Chief Executive Officer of Ascendis Pharma. "This focus on addressing unmet medical needs continues to drive a growing pipeline of innovative TransCon programs, further positioning Ascendis for durable, long-term growth in rare endocrine diseases and new therapeutic areas."