Ascendis Pharma A/S - Share Repurchase Program Update
COPENHAGEN, Denmark, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Ascendis Pharma A/S (Nasdaq: ASND) today provided an update on the Company’s previously announced $25 million American Depositary Shares (ADS) Share Repurchase Program. Each ADS represents one ordinary share of Ascendis Pharma A/S. The program is executed under Rules 10b-18 and 10b5-1 of the U.S. securities regulations.
In accordance with the program initiated on November 1, 2021, Ascendis Pharma A/S is authorized to repurchase up to $25 million of ADSs in the period starting November 1, 2021 and expected to end no later than December 31, 2021. A maximum of 300,000 ADS in total can be repurchased during the trading period. The maximum number of ADS that can be repurchased on a single trading day may not exceed 10% of the average daily trading volume of Ascendis Pharma A/S ADS, in the prior full four weeks of trading.
Since the initiation of the program, the following transactions have been executed.
Number of ADS
|November 1, 2021||24,540||$159.15||$3,906,181|
|November 2, 2021||24,631||$162.99||$4,015,444|
|November 3, 2021||24,631||$163.09||$4,017,730|
|November 4, 2021||24,631||$161.09||$3,968,488|
|November 5, 2021||23,989||$160.69||$3,855,409|
|Purchased under the program||122,422||$161.41||$19,763,252|
*Total value includes fees and costs associated with the repurchase program.
Following these transactions, Ascendis Pharma A/S has repurchased a total of 122,422 ADSs under the Share Repurchase Program.
About Ascendis Pharma A/S
Ascendis Pharma is applying its innovative platform technology to build a leading, fully integrated biopharma company focused on making a meaningful difference in patients’ lives. Guided by its core values of patients, science and passion, the company uses its TransCon technologies to create new and potentially best-in-class therapies. Ascendis is headquartered in Copenhagen, Denmark, and has additional facilities in Heidelberg and Berlin, Germany; Palo Alto and Redwood City, California; and Princeton, New Jersey. Please visit www.ascendispharma.com to learn more.
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding Ascendis’ future operations, plans and objectives of management are forward-looking statements. Examples of such statements include, but are not limited to, statements relating to (i) Ascendis’ ability to apply its platform technology to build a leading, fully integrated biopharma company, (ii) Ascendis’ use of its TransCon technologies to create new and potentially best-in-class therapies, and (iii) Ascendis’ ability to effectuate its ADS Repurchase Program. Ascendis may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions, expectations and projections disclosed in the forward-looking statements. Various important factors could cause actual results or events to differ materially from the forward-looking statements that Ascendis makes, including the following: dependence on third party manufacturers and distributors to supply TransCon hGH, the SKYTROFA® Auto-Injector and other study drug for commercial sales in the U.S. and clinical studies; unforeseen safety or efficacy results in its oncology programs, TransCon hGH, TransCon PTH and TransCon CNP or other development programs; unforeseen expenses related to commercialization of lonapegsomatropin-tcgd in the U.S., the co-pay program, and the further development of TransCon hGH, expenses related to the development and potential commercialization of its oncology programs, TransCon hGH, TransCon PTH and TransCon CNP or other development programs, selling, general and administrative expenses, other research and development expenses and Ascendis’ business generally; delays in the development of its oncology programs, TransCon hGH, TransCon PTH and TransCon CNP or other development programs related to manufacturing, regulatory requirements, speed of patient recruitment or other unforeseen delays; dependence on third party manufacturers to supply study drug for planned clinical studies; Ascendis’ ability to obtain additional funding, if needed, to support its business activities; fluctuations in global or local economic, market, industry, or regulatory conditions that may impact Ascendis’ ability to effectuate its ADS Repurchase Program; and the effects on Ascendis’ business from the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Ascendis’ business in general, see Ascendis’ Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (SEC) on March 10, 2021 and Ascendis’ other future reports filed with, or submitted to, the SEC. Forward-looking statements do not reflect the potential impact of any future licensing, collaborations, acquisitions, mergers, dispositions, joint ventures, or investments that Ascendis may enter into or make. Ascendis does not assume any obligation to update any forward-looking statements, except as required by law.
Ascendis, Ascendis Pharma, the Ascendis Pharma logo, the company logo, TransCon, and SKYTROFA are trademarks owned by the Ascendis Pharma Group. © November 2021 Ascendis Pharma A/S.
|Investor Contacts:||Media Contact:|
|Tim Lee||Melinda Baker|
|Ascendis Pharma||Ascendis Pharma|
|(650) 374-6343||(650) 709-8875|