Ascendis Pharma stock falls on missed Skytrofa revenue forecast

Investing.com -- Shares of Ascendis Pharma (NASDAQ:ASND ) fell 1% after the company provided its full-year guidance for Skytrofa revenue, which fell short of the average analyst expectations.

During the 43rd Annual JPMorgan Healthcare Conference on January 13, Ascendis Pharma's CEO Jan Mikkelsen unveiled the company's forecast for Skytrofa, its growth hormone deficiency treatment. The company now expects Skytrofa revenue to reach approximately €202 million for the year, a slight increase from their previous range of €200 million to €220 million.

However, this updated guidance did not meet the Bloomberg consensus estimate of €215.7 million, prompting a negative response from the market.

The updated forecast for Skytrofa is exclusive of sales deductions related to prior years. In addition to the Skytrofa revenue, Ascendis Pharma provided a preliminary estimate for the total full-year revenue for 2024, which is expected to be around €364 million.

This figure includes a significant non-product revenue component, specifically a $100 million milestone payment from Novo Nordisk (NYSE:NVO ).

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Source: Investing.com