0000950170-23-015250 | 6-K | XBRL Viewer | Ascendis Pharma AS

This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser.

Print Document View Excel Document
Cover Cover Page Significant Events in the Reporting Period Treasury Shares Notes Details Summary of Significant Accounting Policies - Additional Information (Detail) Treasury Shares - Summary of Holding of Treasury Shares (Detail) Uncategorized Uncategorized Items - asnd-20230331_htm.xml All Reports

Label

Element

Value

Revenue From Sale Of Clinical Supply

asnd_RevenueFromSaleOfClinicalSupply

€ 254,000

Revenue From Sale Of Clinical Supply

asnd_RevenueFromSaleOfClinicalSupply

€ 3,936,000

Weighted Average Duration Of Marketable Securities Explanatory

asnd_WeightedAverageDurationOfMarketableSecuritiesExplanatory

3 months 12 days

Increase Decrease In Derivative Financial Liabilities Fair Value

asnd_IncreaseDecreaseInDerivativeFinancialLiabilitiesFairValue

€ 14,000,000.0

Increase Decrease In Derivative Financial Liabilities Fair Value

asnd_IncreaseDecreaseInDerivativeFinancialLiabilitiesFairValue

21,800,000

Increase Decrease In Derivative Financial Liabilities Fair Value

asnd_IncreaseDecreaseInDerivativeFinancialLiabilitiesFairValue

0

Increase Decrease In Derivative Financial Liabilities Fair Value

asnd_IncreaseDecreaseInDerivativeFinancialLiabilitiesFairValue

142,467,000

asnd_CashDeposits

501,281,000

asnd_CashDeposits

€ 754,497,000

Borrowings Redemption Period

asnd_BorrowingsRedemptionPeriod

April 7, 2025

Derivative Financial Liabilities at Fair Value Remeasurement Recognized in Financial Income Or Expense

asnd_DerivativeFinancialLiabilitiesAtFairValueRemeasurementRecognizedInFinancialIncomeOrExpense

€ (41,182,000)

Derivative Financial Liabilities at Fair Value Remeasurement Recognized in Financial Income Or Expense

asnd_DerivativeFinancialLiabilitiesAtFairValueRemeasurementRecognizedInFinancialIncomeOrExpense

€ (1,088,000)

Number of other equity instruments vested in share-based payment arrangement

asnd_NumberOfOtherEquityInstrumentsVestedInSharebasedPaymentArrangement

5,013,862

Reimbursement From Acquisition of Property Plant and Equipment

asnd_ReimbursementFromAcquisitionOfPropertyPlantAndEquipment

€ 0

Reimbursement From Acquisition of Property Plant and Equipment

asnd_ReimbursementFromAcquisitionOfPropertyPlantAndEquipment

€ 3,794,000

Basic And Diluted Earnings Loss Per Shares

asnd_BasicAndDilutedEarningsLossPerShares

€ (1.98)

Basic And Diluted Earnings Loss Per Shares

asnd_BasicAndDilutedEarningsLossPerShares

€ (2.21)

Disclosure of Summary of Fair Value Hierarchy [Table Text Block]

asnd_DisclosureOfSummaryOfFairValueHierarchyTableTextBlock


		March 31, 2023								December 31, 2022
		Carrying amount				Fair value				Carrying amount				Fair value				Fair value level
		(EUR’000)																(1-3)
Financial assets
Marketable securities			84,460				83,525				298,180				295,843			1
Financial assets measured at amortized cost			84,460				83,525				298,180				295,843
Total financial assets			84,460				83,525				298,180				295,843
Financial liabilities
Convertible senior notes			399,880				388,003				399,186				382,459			3
Financial liabilities measured at amortized cost			399,880				388,003				399,186				382,459
Derivative liabilities			116,768				116,768				157,950				157,950			3
Financial liabilities measured at fair value through profit or loss			116,768				116,768				157,950				157,950
Total financial liabilities			516,648				504,771				557,136				540,409

Short Term Marketable Securities

asnd_ShortTermMarketableSecurities

€ 0

Short Term Marketable Securities

asnd_ShortTermMarketableSecurities

€ 1,146,000

Borrowings Condition For Redemption

asnd_BorrowingsConditionForRedemption

but only if the last reported sale price per ADS exceeds 130% of the conversion price on (i) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related optional redemption notice; and (ii) the trading day immediately before the date the Company sends such notice.

Marketable Securities Explanatory

asnd_MarketableSecuritiesExplanatory

€ 84,460,000

Marketable Securities Explanatory

asnd_MarketableSecuritiesExplanatory

298,180,000

Marketable Securities Explanatory

asnd_MarketableSecuritiesExplanatory

84,460,000

Marketable Securities Explanatory

asnd_MarketableSecuritiesExplanatory

83,525,000

Marketable Securities Explanatory

asnd_MarketableSecuritiesExplanatory

298,180,000

Marketable Securities Explanatory

asnd_MarketableSecuritiesExplanatory

295,843,000

Contractual Undiscounted Cashflow Of Financial Lease Liabilities

asnd_ContractualUndiscountedCashflowOfFinancialLeaseLiabilities

€ 122,863,000

Number of reportable operating segments

asnd_NumberOfReportableOperatingSegments

1

Maturity Analysis For Financial Liabilities [Text Block]

asnd_MaturityAnalysisForFinancialLiabilitiesTextBlock

Maturity analysis (on an undiscounted basis) for non-derivative financial liabilities recognized in the unaudited condensed consolidated statements of financial position at March 31, 2023, is specified below:


		< 1 year				1-5 years				>5 years				Total contractual cash-flows				Carrying amount
		(EUR’000)
Financial liabilities
March 31, 2023
Borrowings
Convertible senior notes			11,897				41,638				534,684				588,219				399,880
Lease liabilities			13,565				51,967				57,331				122,863				105,501
Trade payables and accrued expenses			131,438				—				—				131,438				131,438
Total financial liabilities			156,900				93,605				592,015				842,520				636,819

Disclosure of segment revenues by destination of major customers explanatory

asnd_DisclosureOfSegmentRevenuesByDestinationOfMajorCustomersExplanatory


		Three Months Ended March 31,
		2023				2022
		(EUR’000)
Revenue from external customers
Commercial sale of products			31,551				1,888
Rendering of services			1,170				372
Sale of clinical supply			254				3,936
Licenses			614				632
Total revenue from external customers			33,589				6,828
Attributable to
Commercial customers			31,551				1,888
Collaboration partners and license agreements			2,038				4,940
Total revenue from external customers			33,589				6,828
Specified by timing of recognition
Recognized over time			1,170				372
Recognized at a point in time			32,419				6,456
Total revenue from external customers			33,589				6,828
Revenue by geographical location
Europe			—				135
North America			33,070				6,456
China			519				237
Total revenue from external customers			33,589				6,828

Adjustments For Non Cash Consideration Regarding Revenue

asnd_AdjustmentsForNonCashConsiderationRegardingRevenue

€ 614,000

Adjustments For Non Cash Consideration Regarding Revenue

asnd_AdjustmentsForNonCashConsiderationRegardingRevenue

€ 632,000

Borrowings Threshold Percentage Of Sale Price Per Share For Redemption

asnd_BorrowingsThresholdPercentageOfSalePricePerShareForRedemption

130.00%

Payment Term Of Customers

asnd_PaymentTermOfCustomers

30 days

Share Price Applied For Valuation

asnd_SharePriceAppliedForValuation

€ (49)

Distributable equity

asnd_DistributableEquity

€ 159,503,000

Distributable equity

asnd_DistributableEquity

255,673,000

Fair Value of Convertible Notes

asnd_FairValueOfConvertibleNotes

€ 388,000,000.0

Borrowings Threshold Trading Days For Redemption

asnd_BorrowingsThresholdTradingDaysForRedemption

20

Disclosure of Movements in Level Three Fair Value Measurements [Table Text Block]

asnd_DisclosureOfMovementsInLevelThreeFairValueMeasurementsTableTextBlock

Movements in level 3 fair value measurements are specified below:


		2023				2022
		(EUR’000)
Derivative liabilities
January 1			157,950				—
Additions			—				142,467
Remeasurement recognized in financial (income) or expense			(41,182	)			(1,088	)
March 31			116,768				141,379

Disclosure Detailed Information About Marketable Securities [Text Block]

asnd_DisclosureDetailedInformationAboutMarketableSecuritiesTextBlock

The composition of the portfolio of marketable securities is specified in the following table:


		March 31, 2023				December 31, 2022
		(EUR’000)
Marketable securities
U.S. Treasury bills			—				79,086
U.S. Government bonds			42,955				99,337
Corporate bonds			36,907				104,236
Agency bonds			4,598				15,521
Total marketable securities			84,460				298,180
Classified based on maturity profiles
Non-current assets			—				7,492
Current assets			84,460				290,688
Total marketable securities			84,460				298,180
Specified by rate structure
Fixed rate			75,834				205,825
Floating rate			8,626				11,787
Zero-coupon			—				80,568
Total marketable securities			84,460				298,180
Specified by investment grade credit rating
High grade			51,052				203,530
Upper medium grade			33,408				94,650
Total marketable securities			84,460				298,180

Borrowings Threshold Consecutive Trading Days For Redemption

asnd_BorrowingsThresholdConsecutiveTradingDaysForRedemption

30

Number of warrants outstanding

asnd_NumberOfWarrantsOutstanding

6,761,296

Number of warrants outstanding

asnd_NumberOfWarrantsOutstanding

7,060,788

Number of warrants outstanding

asnd_NumberOfWarrantsOutstanding

3,456,785

Sharebased Payment Arrangement, Restricted Stock Unit, Activity [Text Block]

asnd_SharebasedPaymentArrangementRestrictedStockUnitActivityTextBlock

The following table specifies the number of RSUs and PSUs granted and outstanding at March 31, 2023:


		Restricted Stock Units				Performance Stock Units				Total
Outstanding		(Number)
January 1, 2023			82,492				—				82,492
Granted during the period			609,695				112,268				721,963
Forfeited during the period			(10,494	)			—				(10,494	)
March 31, 2023			681,693				112,268				793,961
Specified by vesting year
2023			41,240				—				41,240
2024			240,888				37,422				278,310
2025			199,757				37,423				237,180
2026			199,808				37,423				237,231
March 31, 2023			681,693				112,268				793,961

Contractual Undiscounted Cashflow Of Convertible Senior Notes

asnd_ContractualUndiscountedCashflowOfConvertibleSeniorNotes

€ 588,219,000

Contractual Undiscounted Cashflow Of Financial Liabilities

asnd_ContractualUndiscountedCashflowOfFinancialLiabilities

842,520,000

Goodwill And Other Intangible Assets

asnd_GoodwillAndOtherIntangibleAssets

4,717,000

Goodwill And Other Intangible Assets

asnd_GoodwillAndOtherIntangibleAssets

4,828,000

Net Proceeds From Convertible Senior Notes

asnd_NetProceedsFromConvertibleSeniorNotes

0

Net Proceeds From Convertible Senior Notes

asnd_NetProceedsFromConvertibleSeniorNotes

€ (504,454,000)

Conversion Rate Per Note

asnd_ConversionRatePerNote

€ 6.0118

Reversal Of Gain Loss On Property Plant And Equipment

asnd_ReversalOfGainLossOnPropertyPlantAndEquipment

€ 21,000

Reversal Of Gain Loss On Property Plant And Equipment

asnd_ReversalOfGainLossOnPropertyPlantAndEquipment

€ 0

Weighted average exercise price of other equity instruments vested in sharebased payment arrangement

asnd_WeightedAverageExercisePriceOfOtherEquityInstrumentsVestedInSharebasedPaymentArrangement

€ 70.58

Disclosure Of Financial Assets And Liabilities [text block]

asnd_DisclosureOfFinancialAssetsAndLiabilitiesExplanatory

Financial assets and liabilities comprise the following:


		March 31, 2023				December 31, 2022
		(EUR’000)
Financial assets by category
Trade receivables			16,121				11,910
Other receivables (excluding income tax and indirect tax receivables)			8,464				3,884
Marketable securities			84,460				298,180
Cash and cash equivalents			501,281				444,767
Financial assets measured at amortized cost			610,326				758,741
Total financial assets			610,326				758,741
Classified in the statement of financial position
Non-current assets			1,984				9,412
Current assets			608,342				749,329
Total financial assets			610,326				758,741

Financial liabilities by category
Borrowings
Convertible senior notes			399,880				399,186
Lease liabilities			105,501				109,191
Trade payables and accrued expenses			131,438				101,032
Financial liabilities measured at amortized cost			636,819				609,409
Derivative liabilities			116,768				157,950
Financial liabilities measured at fair value through profit or loss			116,768				157,950
Total financial liabilities			753,587				767,359
Classified in the statement of financial position
Non-current liabilities			596,756				640,907
Current liabilities			156,831				126,452
Total financial liabilities			753,587				767,359

Conversion Price Per Share

asnd_ConversionPricePerShare

€ 166.34

Contractual Undiscounted Cashflow Of Trade Payables And Other Payables

asnd_ContractualUndiscountedCashflowOfTradePayablesAndOtherPayables

€ 131,438,000

Convertible Senior Notes [Member]

Potential Conversion Of Convertible Senior Notes Into Number Of Ordinary Shares

asnd_PotentialConversionOfConvertibleSeniorNotesIntoNumberOfOrdinaryShares

575,000

Cover Page	3 Months Ended
Cover Page	Mar. 31, 2023
Document Information [Line Items]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Registrant Name	Ascendis Pharma A/S
Entity Central Index Key	0001612042
Current Fiscal Year End Date	--12-31

Significant Events in the Reporting Period

3 Months Ended

Mar. 31, 2023

Significant Events in the Reporting Period [Abstract]

Significant Events In the Reporting Period

Note 4—Significant Events in the Reporting Period

Global Banking Situation

In March 2023, the Federal Deposit Insurance Corporation (the “FDIC”) announced that Silicon Valley Bank (“SVB”) had been closed by the California Department of Financial Protection and Innovation, which appointed the FDIC as receiver. The Company did not hold deposits or securities or maintain any accounts at SVB. Following the closure of SVB and subsequent developments in the global banking sector, the Company considered the risk of expected credit loss on bank deposits and marketable securities, including the hypothetical impact arising from the probability of default, which is considered in conjunction with the expected loss caused by default by banks or securities with similar credit-ratings and attributes.

In line with previous periods, this assessment did not reveal a material impairment loss, and accordingly no provision for expected credit loss has been recognized.

Conflict in the Region Surrounding Ukraine and Russia

The ongoing conflict in the region surrounding Ukraine and Russia has impacted our ability to continue clinical trial activities in those countries. The conflict did not have a direct material impact on the unaudited condensed consolidated interim financial statements.

COVID-19 Pandemic

The COVID-19 pandemic has affected countries where we are operating, where we have planned or have ongoing clinical trials, and where we rely on third-parties to manufacture preclinical, clinical and commercial supply.

COVID-19 did not have a direct material impact on the unaudited condensed consolidated interim financial statements.