Good and Bad News for Ascendis
Danish biopharma company Ascendis Pharma had an eventful day on Monday. In a J.P. Morgan Healthcare Conference presentation, CEO Jan Mikkelsen revealed that the company is well-positioned for rapid revenue growth. But then, there was bad news, too.
Ascendis Pharma specializes in developing therapies for rare diseases through its innovative TransCon technology platform.
“Ascendis is well-positioned for rapid revenue growth,” founder and CEO Jan Møller Mikkelsen stated.
In his presentation of the company's strategic roadmap for 2025, he highlighted key milestones such as the expected U.S. commercial launch of SKYTROFA for adults with growth hormone deficiency pending FDA approval and plans to expand the availability of YORVIPATH across more European countries.
Ascendis is also preparing to seek regulatory approval for TransCon CNP, a therapy for achondroplasia, a condition that affects bone growth.
“Our expanding TransCon technology platform and partnerships demonstrate that our business model, built on fast, successful drug development, can create substantial stakeholder value,” Mikkelsen said.
That was the good news.
The bad news was that BioMarin, a San Rafael-based competitor, filed a lawsuit against Ascendis Pharma on Monday. BioMarin claims that Ascendis' work on its TransCon CNP treatment violates one of its European patents.
The J.P. Morgan Healthcare Conference, running from January 13 to 16 in San Francisco, is one of the world’s largest gatherings for healthcare leaders to discuss trends and explore new investment opportunities.