Ascendis Pharma Bone Diseases A/S, a fully owned division of Ascendis Pharma A/S (ASND), has secured a $150 million capped synthetic royalty funding arrangement with Royalty Pharma plc (RPRX). This deal is tied to the U.S. net sales of YORVIPATH.
ASND's stock ended Tuesday's regular trading session at $134.68, reflecting a decrease of $3.77 or 2.72%. Subsequent to the regular trading hours, the stock further declined by $24.18 or 17.95%.
"We are delighted to renew our collaboration with Royalty Pharma, a premier financier for innovation across the biopharma sector, as we introduce YORVIPATH in the U.S. This marks the first and only FDA-approved treatment for hypoparathyroidism in adults," stated Jan Mikkelsen, President and Chief Executive Officer of Ascendis Pharma.
According to the agreement's terms, Ascendis will receive an upfront payment of $150 million in exchange for a 3% royalty on U.S. net sales of YORVIPATH. The royalty payments to Royalty Pharma will terminate after reaching a multiplier of 2.0x, or 1.65x if Royalty Pharma earns that amount by December 31, 2029.
