Ascendis Pharma (ASND1N) Q3 2026 Earnings Report

The call was strongly positive, supported by 89% year-over-year product revenue growth, accelerating Yorvipath revenue, a growing Yuvivel launch, strong operating cash flow, a 42% non-IFRS operating margin, positive regulatory progress, and multiple label-expansion and pipeline opportunities. The main challenges were the slower pace of ex-U.S. commercialization, pending European approval for Yuvivel, stable rather than rapidly growing Skytrofa revenue, and the enlargement and delay of the combination Phase III trial.

For the fourth quarter of 26, Yorvipath is expected to show “growth and performance consistent with prior quarters” in The U. S and outside The U. S., Skytrofa “relatively stable revenue” in The US, and Yuvivel “demand growth and approval trends to continue” in The US, with additional growth from global commercial expansion, select international markets, and EU launches; for full year 2026, cash flow from operating activities is expected to be “at least €600 million,” while Ascendis targets “more than €5 billion” in 2030 and “€10 billion” in 2035, commercialization in more than 50 countries, at least 1 new product into clinical development each year, 15 additional Yorvipath markets in 2027, a first European Yuvivel launch in Germany in Q1 27 if approved, infant-trial top line results in 2027, a phase 3 hypochondroplasia trial in 2027, and more than 1 thousand new Yorvipath patients every quarter in The U.S.