Ascendis Rises In Pre-market On FDA Approval Of Yorvipath To Treat Hypoparathyroidism

(RTTNews) - Shares of Ascendis Pharma A/S (ASND) were rising more than 10 percent in pre-market on Monday to $139.96, following the FDA approval of its Yorvipath for the treatment of hypoparathyroidism in adults.

Hypoparathyroidism is a rare endocrine disease caused by insufficient levels of parathyroid hormone that impact multiple organs. The condition affects about 70,000 to 90,000 people in the United States.

The company plans to make the drug available in the first quarter of 2025. Ascendis also said it intends to request FDA approval to commercialize existing manufactured product, which, if approved, could be introduced in the U.S. in the fourth quarter of 2024.

Ascendis shares had closed at $126.97, up 0.79 percent on Friday. The stock has traded in the range of $85.29 - $161.00 in the last 1 year.