Ascendis Pharma (ASND) Q2 2026 earnings summary

Executive summary

• Achieved key milestones and strong demand for TransCon products, driving transformation into a leading global biopharma company.

• Q2 2026 product revenue reached €315 million, up 105% year-over-year, driven by strong demand for YORVIPATH, SKYTROFA, and YUVIWEL.

• Significant pipeline progress included long-term data presentations, completion of pivotal trial enrollment, and regulatory milestones.

• Settled all convertible notes and was added to multiple Russell U.S. Indexes.

• TransCon technology platform enables annual pipeline expansion and entry into new therapeutic areas.

Financial highlights

• Total Q2 2026 revenue was €339 million, up from €158 million in Q2 2025, including €24 million in non-product collaboration revenue and a €17 million milestone for TransCon CNP.

• YORVIPATH revenue was €252 million, SKYTROFA €55 million, and YUVIWEL €8 million in its first quarter on the market.

• Net profit for Q2 2026 was €207 million; non-IFRS net profit was €61 million.

• Cash and cash equivalents as of June 30, 2026, were €812 million, up from €616 million at year-end 2025.

• Sale of Rare Pediatric Disease Priority Review Voucher generated €158 million in cash and contributed to operating profit.

Outlook and guidance

• Expect YORVIPATH growth and performance to remain consistent with prior quarters.

• SKYTROFA revenue expected to remain stable in the U.S.; YUVIWEL showing strong early demand and market expansion.

• On track to achieve €5 billion in revenues by 2030, with potential to exceed €10 billion in the next decades.

• Projecting over €500 million in operating cash flow for 2026.

• Anticipates EMA decision on YUVIWEL in Q4 2026 and plans to initiate Phase 3 trials for TransCon CNP in H2 and Q4 2026.