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Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2017 shares
Document - Document and Entity Information [Abstract]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Trading Symbol	ASND
Entity Registrant Name	Ascendis Pharma A/S
Entity Central Index Key	0001612042
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	36,984,292

Consolidated Statements of Profit or loss and Other Comprehensive Income - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Profit or loss [abstract]

Revenue

€ 1,530

€ 4,606

€ 8,118

Research and development costs

(99,589)

(66,022)

(40,528)

General and administrative expenses

(13,482)

(11,504)

(9,415)

Operating profit/(loss)

(111,541)

(72,920)

(41,825)

Finance income

923

7,300

11,048

Finance expenses

(13,756)

(3,112)

(2,797)

Profit/(loss) before tax

(124,374)

(68,732)

(33,574)

Tax on profit/(loss) for the year

477

227

652

Net profit/(loss) for the year

(123,897)

(68,505)

(32,922)

Items that may be reclassified subsequently to profit or loss:

Exchange differences on translating foreign operations

(14)

Other comprehensive income/(loss) for the year, net of tax

(14)

Total comprehensive income/(loss) for the year, net of tax

(123,832)

(68,499)

(32,936)

Profit/(loss) for the year attributable to owners of the Company

(123,897)

(68,505)

(32,922)

Total comprehensive income/(loss) for the year attributable to owners of the Company

€ (123,832)

€ (68,499)

€ (32,936)

Basic earnings/(loss) per share

€ (3.68)

€ (2.58)

€ (1.39)

Diluted earnings/(loss) per share

€ (3.68)

€ (2.58)

€ (1.39)

Number of shares used for calculation (basic)

33,626,305

26,564,414

23,766,783

Number of shares used for calculation (diluted)

^[1]

33,626,305

26,564,414

23,766,783

[1]

A total of 4,621,154 warrants outstanding as of December 31, 2017 (a total of 3,691,765 warrants and 2,615,903 warrants outstanding as of December 31, 2016 and 2015, respectively) can potentially dilute earnings per share in the future, but have not been included in the calculation of diluted earnings per share because they are antidilutive for the periods presented

Consolidated Statements of Profit or loss and Other Comprehensive Income (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Warrants [member]
Warrants outstanding	4,621,154	3,691,765	2,615,903

Consolidated Statements of Financial Position - EUR (€) € in Thousands	Dec. 31, 2017	Dec. 31, 2016
Non-current assets
Intangible assets	€ 3,495	€ 3,495
Property, plant and equipment	2,557	2,350
Deposits	293	268
Total non-current assets	6,345	6,113
Current assets
Trade receivables	188	287
Other receivables	1,410	640
Prepayments	6,907	1,962
Income taxes receivable	778	740
Cash and cash equivalents	195,351	180,329
Total current assets	204,634	183,958
Total assets	210,979	190,071
Equity
Share capital	4,967	4,354
Distributable equity	182,244	172,259
Total equity	187,211	176,613
Current liabilities
Trade payables and other payables	23,768	13,078
Deferred income		94
Income taxes payable		286
Total current liabilities	23,768	13,458
Total liabilities	23,768	13,458
Total equity and liabilities	€ 210,979	€ 190,071

Consolidated Statements of Changes in Equity - EUR (€) € in Thousands	Total	Issued Capital [member]	Share Premium [member]	Foreign Currency Translation Reserve [member]	Share-based Payment Reserve [member]	Accumulated Deficit [member]
Equity at Dec. 31, 2014	€ 45,810	€ 2,272	€ 77,445	€ (71)	€ 4,050	€ (37,886)
Loss for the year	(32,922)					(32,922)
Other comprehensive loss, net of tax	(14)			(14)
Total comprehensive income/(loss)	(32,936)			(14)		(32,922)
Share-based payment (Note 6)	1,713				1,713
Capital increase	114,138	1,102	113,036
Cost of capital increase	(8,396)		(8,396)
Equity at Dec. 31, 2015	120,329	3,374	182,085	(85)	5,763	(70,808)
Loss for the year	(68,505)					(68,505)
Other comprehensive loss, net of tax	6			6
Total comprehensive income/(loss)	(68,499)			6		(68,505)
Share-based payment (Note 6)	7,321				7,321
Capital increase	125,966	980	124,986
Cost of capital increase	(8,504)		(8,504)
Equity at Dec. 31, 2016	176,613	4,354	298,567	(79)	13,084	(139,313)
Loss for the year	(123,897)					(123,897)
Other comprehensive loss, net of tax	65			65
Total comprehensive income/(loss)	(123,832)			65		(123,897)
Share-based payment (Note 6)	9,709				9,709
Capital increase	133,109	613	132,496
Cost of capital increase	(8,388)		(8,388)
Equity at Dec. 31, 2017	€ 187,211	€ 4,967	€ 422,675	€ (14)	€ 22,793	€ (263,210)

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

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+ Details

Consolidated Cash Flow Statements - EUR (€) € in Thousands	12 Months Ended
Consolidated Cash Flow Statements - EUR (€) € in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating activities
Net profit/(loss) for the year	€ (123,897)	€ (68,505)	€ (32,922)
Reversal of finance income	(923)	(7,300)	(11,048)
Reversal of finance expenses	13,756	3,112	2,797
Reversal of tax charge	(477)	(227)	(652)
Adjustments for:
Share-based payment	9,709	7,321	1,713
Depreciation	734	677	558
Changes in working capital:
Deposits	(25)	2	(130)
Trade receivables	99	777	228
Other receivables	(770)	(302)	(128)
Prepayments	(4,945)	1,857	(3,199)
Trade payables and other payables	10,755	4,711	3,403
Deferred income	(94)	(2,978)	(4,833)
Cash flows generated from/(used in) operations	(96,078)	(60,855)	(44,213)
Finance income received	923	123	13
Finance expenses paid	(97)	(5)	(6)
Income taxes received / (paid)	153	558	740
Cash flows from/(used in) operating activities	(95,099)	(60,179)	(43,466)
Investing activities
Acquisition of property, plant and equipment	(941)	(672)	(1,039)
Cash flows used in investing activities	(941)	(672)	(1,039)
Financing activities
Capital increase	133,109	125,966	114,138
Cost of capital increase	(8,388)	(8,504)	(8,396)
Cash flows from / (used in) financing activities	124,721	117,462	105,742
Increase / (decrease) in cash and cash equivalents	28,681	56,611	61,237
Cash and cash equivalents at January 1	180,329	119,649	50,167
Effect of exchange rate changes on balances held in foreign currencies	(13,659)	4,069	8,245
Cash and cash equivalents at December 31	€ 195,351	€ 180,329	€ 119,649

General Information	12 Months Ended
General Information	Dec. 31, 2017
Text block1 [abstract]
General Information	Note 1—General Information Ascendis Pharma A/S, together with its subsidiaries, is a clinical stage biopharmaceutical company utilizing its TransCon technology to address significant unmet medical needs in rare diseases by improving clinically validated parent drugs and creating therapies with potential for best-in-class efficacy, safety and/or convenience. Ascendis Pharma A/S was incorporated in 2006 and is headquartered in Hellerup, Denmark. Unless the context otherwise requires, references to the “Company,” “we,” “us” and “our” refer to Ascendis Pharma A/S and its subsidiaries. The address of the Company’s registered office is Tuborg Boulevard 5, DK-2900 Hellerup, Denmark. On February 2, 2015, the Company completed an initial public offering, or IPO, which resulted in the listing of American Depositary Shares, or ADSs, representing the Company’s ordinary shares, under the symbol “ASND” in the United States on The Nasdaq Global Select Market. The Company’s Board of Directors approved these consolidated financial statements on March 28, 2018.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2017

Text block1 [abstract]

Summary of Significant Accounting Policies

Note 2—Summary of Significant Accounting Policies

Basis of Preparation

The consolidated financial statements are prepared in accordance with the International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB, and as adopted by the European Union, or EU.

The accounting policies applied when preparing the consolidated financial statements are described in detail below. Unless otherwise stated, these policies have been applied consistently to all years presented. Significant accounting estimates used when exercising the accounting policies are described in Note 3.

The accounting policies are consistent with those of the previous year.

Our consolidated financial statements have been prepared under the historical cost convention, apart from certain financial instruments that are measured at fair value at initial recognition.

The presentation of the statement of changes in equity has been changed. In order to present share premium arising from the company’s capital increases separately from earnings, the balance of ‘retained earnings’ has been divided into ‘share premium’ and ‘accumulated deficit’ in the statement of changes in equity.

Going Concern

The Company’s Board of Directors has, at the time of approving the financial statements, a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, we continue to adopt the going concern basis of accounting in preparing the financial statements.

Recognition and Measurement

Assets are recognized in the consolidated statement of financial position when it is probable, as a result of a prior event, that future economic benefits will flow to us and the value of the asset can be measured reliably.

Liabilities are recognized in the consolidated statement of financial position when we have a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow from us and the value of the liability can be measured reliably.

On initial recognition, assets and liabilities are measured at cost or at fair value, depending on the classification of the items. Measurement subsequent to initial recognition is affected as described below for each financial statement item. Anticipated risks and losses that arise before the time of presentation of the consolidated financial statements and that confirm or invalidate affairs and conditions existing at the consolidated statement of financial position date are considered at the time of recognition and measurement.

Income is recognized in the consolidated statement of profit or loss when earned, whereas costs are recognized by the amounts attributable to the financial year.

Basis of Consolidation

The consolidated financial statements include our parent company, Ascendis Pharma A/S, and all entities over which the parent company has control. We control an entity when we are exposed to, or have rights to, variable returns from our involvement with the entity and have the ability to control those returns through our power over the entity. Accordingly, the consolidated financial statements include Ascendis Pharma A/S and the entities listed in Note 11.

Consolidation Principles

Our subsidiaries are fully consolidated from the date upon which control is transferred to us. They are deconsolidated from the date control ceases.

When necessary, adjustments are made to the financial statements of our subsidiaries to conform their accounting policies to our accounting policies. All intra-company assets and liabilities, equity, income, expenses and cash flows relating to transactions between our group enterprises are eliminated in full upon consolidation.

Foreign Currency

On initial recognition, transactions in currencies other than an individual company’s functional currency are translated applying the exchange rate in effect at the date of the transaction. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate in effect at the balance sheet date.

Exchange differences that arise between the rate at the transaction date and the rate in effect at the payment date, or the rate at the balance sheet date, are recognized in profit or loss as financial income or financial expenses. Property, plant and equipment, intangible assets and other non-monetary assets purchased in foreign currencies and measured on the basis of historical cost are translated at the transaction date exchange rate.

When subsidiaries that present their financial statements in a functional currency other than EUR are recognized in the consolidated financial statements, the statements of profit or loss are translated at average exchange rates. Balance sheet items are translated using the exchange rates at the balance sheet date. Exchange differences arising out of the translation of foreign entities’ balance sheet items at the beginning of the year using the balance sheet date exchange rates as well as out of the translation of statements of profit or loss from average rates to the exchange rates at the balance sheet date are recognized in other comprehensive income. Similarly, exchange differences arising out of changes that have been made directly in a foreign subsidiary’s equity are recognized in other comprehensive income.

Business Combinations

Newly acquired or newly established subsidiaries are recognized in the consolidated financial statements from the time of acquiring or establishing such enterprises. Time of acquisition is the date on which control of the enterprise is actually acquired.

When acquiring new enterprises over which we obtain control, the acquisition method is applied. Under this method, we identify assets, liabilities and contingent liabilities of these enterprises and measure them at fair value at the acquisition date. Restructuring costs are only recognized in the pre-acquisition balance sheet if they constitute a liability of the acquired enterprise. Allowance is made for the tax effect of the adjustments made.

The acquisition consideration for an enterprise consists of the fair value of the consideration paid for the acquired enterprise. If the final determination of the consideration is conditional upon one or several future events, they are recognized at fair value thereof at the time of acquisition. Costs that are attributable to the acquisition of the enterprise are recognized in profit or loss when incurred.

The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired are all recorded as goodwill.

Revenue

Our revenue currently comprises up-front payments and service fees from research, development and commercialization agreements. Our collaboration agreements comprise elements of up-front license fees, milestone payments based on development and sales and royalties based on product sales. In addition, our collaboration agreements contemplate our involvement in the ongoing research and development of our partnered product candidates, for which we are separately remunerated for the services we render.

As a general principle, revenue is recognized when it is probable that future economic benefits will flow to us and these benefits can be measured reliably. Further, revenue recognition requires that all significant risks and rewards of ownership of the goods or services included in the transaction have been transferred to the buyer, and that we retain neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods or services sold.

Collaboration agreements which contain multiple activities are only separated into individual units of accounting if they constitute a separate earnings process. If multiple activities or rights are not separable, they are combined into a single unit of accounting, and recognized over the period of continued involvement; i.e. the period where we are actively involved in development and deliver significant services to the collaboration partner. If multiple activities or rights are separable, each separate component is accounted for after considering the specific nature of the element and the underlying activities to which earnings process relates. For the three years ended December 31, 2017, 2016 and 2015, the collaboration agreements entered into by the Company did not meet the criteria for separation, and all arrangements were accounted for as a single unit of accounting. Accordingly, the up-front license payments have been recognized as revenue over the period of continued involvement. In addition, the milestone criteria and sales-based royalty thresholds have not yet been met and such thresholds are not yet considered probable, accordingly no milestone and royalty payments have been received or are expected to be received.

If we are entitled to reimbursement from our collaborators for specified research and development expenses and/or entitled to payments for specified research and development services that we provide, we determine whether the research and development funding would result in collaborative revenues or an offset to research and development expenses. Where the payment is for specific research and development services that are to be accounted for as collaborative revenue, such revenue is recognized when such services are provided. Where such payments are not to be considered to be collaborative revenue but are considered to be reimbursements for external expenses incurred, the reimbursements are offset against research and development costs.

In addition to the revenue that we have generated from our collaborations, we also generate revenue for services performed on feasibility studies for potential partners to evaluate if our TransCon technology enables certain advantages for their product candidates of interest. Such feasibility studies are often structured as short-term agreements with fixed fees for the work that we perform.

Revenue is measured at fair value of the consideration received or receivable. Revenue is stated net of value added tax, duties, etc. collected on behalf of a third party and discounts.

Research and Development Costs

Our research and development costs consist primarily of manufacturing costs, preclinical and clinical study costs, personnel costs, the cost of premises, the cost of obtaining and maintaining our intellectual property portfolio, and the depreciation of assets used in research and development activities. Personnel costs consist of salaries, benefits and share-based payments.

Government grants received to cover expenses incurred are recognized in research and development costs.

Research costs are recognized in the consolidated statement of profit or loss in the period to which they relate. Development costs are recognized in the consolidated statement of profit or loss when incurred if the criteria for capitalization have not been met.

A development project involves a single product candidate undergoing a series of studies to illustrate its safety profile and effect on human beings prior to obtaining the necessary approval from the appropriate authorities. Due to the risk related to the development of pharmaceutical products, we cannot estimate the future economic benefits associated with individual development projects with sufficient certainty until the development project has been finalized and the necessary market approval of the final product has been obtained. As a consequence, all development costs are recognized in the consolidated statement of profit or loss in the period to which they relate.

General and Administrative Expenses

General and administrative expenses comprise salaries, share-based payment, and other staff costs including pensions, office supplies, cost of premises, and depreciation and amortization related to administrative activities.

General and administrative expenses are recognized in the consolidated statement of profit or loss in the period to which they relate.

Share-based Incentive Programs

Share-based incentive programs under which board members, employees and external consultants have the option to purchase shares in Ascendis Pharma A/S (equity-settled share-based payment arrangements) are measured at the equity instrument’s fair value at the grant date.

The cost of equity-settled transactions is determined by the fair value at the date of grant using the Black-Scholes valuation model. The cost is recognized together with a corresponding increase in equity over the period in which the performance and/or service conditions are fulfilled, the vesting period. The fair value determined at the grant date of the equity-settled share-based payment is expensed on a straight line basis over the vesting period for each tranche, based on our best estimate of the number of equity instruments that will ultimately vest. No expense is recognized for grants that do not ultimately vest.

Where an equity-settled grant is cancelled, it is treated as if it vested on the date of the cancellation, and any expense not yet recognized for the grant is recognized immediately. This includes any grant where non-vesting conditions within the control of either the entity or the employee are not met. However, if a new grant is substituted for the cancelled grant, and designated as a replacement grant on the date that it is granted, the cancelled and new grants are treated as if they were a modification of the original grant, as described in the previous paragraph. All cancellations of equity-settled transaction grants are treated equally.

Any social security contributions payable in connection with the grant or exercise of the warrants are recognized as incurred.

The assumptions used for estimating the fair value of share-based payment transactions are disclosed in Note 6.

Finance Income and Expenses

Finance income and expenses comprise interest income and expenses, the interest portion related to finance lease contracts and realized and unrealized exchange rate gains and losses on transactions denominated in foreign currencies.

Interest income and interest expenses are stated on an accrual basis using the principal and the effective interest rate. The effective interest rate is the discount rate that is used to discount expected future payments related to the financial asset or the financial liability in order for the present value of such asset or liability to match their carrying amount.

Income Taxes

Tax for the year, which consists of current tax for the year and changes in deferred tax, is recognized in profit or loss by the portion attributable to the profit or loss for the year and recognized directly in equity or other comprehensive income by the portion attributable to entries directly in equity and in other comprehensive income. The current tax payable or receivable is recognized in the balance sheet, stated as tax computed on this year’s taxable income, adjusted for prepaid tax.

When computing the current tax for the year, the tax rates and tax rules enacted or substantially enacted at the balance sheet date are used. Current tax payable is based on taxable profit or loss for the year. Taxable profit or loss differs from net profit or loss as reported in the consolidated statements of profit or loss because it excludes items of income or expense that are taxable or deductible in prior or future years. It also further excludes items that are never taxable or deductible.

Deferred tax is recognized according to the balance sheet liability method of all temporary differences between carrying amounts and tax-based values of assets and liabilities, apart from deferred tax on all temporary differences occurring on initial recognition of goodwill or on initial recognition of a transaction which is not a business combination, and for which the temporary difference found at the time of initial recognition neither affects net profit or loss nor taxable income.

Deferred tax liabilities are recognized on all temporary differences related to investments in our subsidiaries, unless we are able to control when the deferred tax is realized, and it is probable that the deferred tax will not become due and payable as current tax in the foreseeable future.

Deferred tax is calculated based on the planned use of each asset and the settlement of each liability, respectively.

Deferred tax is measured using the tax rates and tax rules in the relevant countries that, based on acts in force or acts in reality in force at the balance sheet date, are expected to apply when the deferred tax is expected to crystallize as current tax. Changes in deferred tax resulting from changed tax rates or tax rules are recognized in profit or loss unless the deferred tax is attributable to transactions previously recognized directly in equity or other comprehensive income. In the latter case, such changes are also recognized in equity or other comprehensive income.

Deferred tax assets, including the tax base of tax loss carry forwards, are recognized in the balance sheet at their estimated realizable value, either as a set-off against deferred tax liabilities or as net tax assets for offset against future positive taxable income. At every balance sheet date, it is assessed whether sufficient taxable income is likely to arise in the future for the deferred tax asset to be used.

Intangible Assets

Goodwill

Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognized for non-controlling interests over the net identifiable assets acquired and liabilities assumed. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is not amortized but is subject to impairment testing at least on a yearly basis. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the cash-generating units, or group of cash-generating units, that are expected to benefit from the synergies of the combination. Each cash-generating unit or group of cash generating units to which goodwill is allocated represent the lowest level within the Company at which the goodwill is monitored for internal management purposes. Goodwill is monitored at the consolidated level.

Property, Plant and Equipment

Property, plant and equipment is measured at cost less accumulated depreciation and impairment losses. Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation. For assets held under finance leases, cost is the lower of the asset’s fair value and net present value of future lease payments.

Subsequent costs are included in the carrying amount of the asset or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the assets will flow to us and the costs of the items can be measured reliably. All repair and maintenance costs are charged to the consolidated statement of profit or loss during the financial periods in which they are incurred.

If the acquisition or use of the asset involves an obligation to incur costs of decommissioning or restoration of the asset, the estimated related costs are recognized as a provision and as part of the relevant asset’s cost, respectively.

The basis of depreciation is cost less estimated residual value. The residual value is the estimated amount that would be earned if selling the asset today net of selling costs, assuming that the asset is of an age and a condition that is expected after the end of its useful life. The cost of a combined asset is divided into smaller components, with such components depreciated individually if their useful lives vary.

Depreciation is calculated on a straight-line basis from the following assessment of an asset’s expected useful life:


Process plant and machinery		5 - 10 years
Other fixtures and fittings, tools and equipment		3 - 5 years
Leasehold improvements		3 - 5 years

Depreciation methods, useful lives and residual amounts are reassessed at least annually.

Property, plant and equipment are written down to the lower of recoverable amount and carrying amount, as described in the “Impairment” section below.

Depreciation, impairment losses and gains and losses on disposal of property, plant and equipment are recognized in the statements of profit or loss as research and development costs or as general and administrative expenses, as appropriate.

Impairment

Property, plant and equipment and finite-lived intangible assets are reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be recoverable. The recoverable amount of goodwill is estimated annually irrespective of any recorded indications of impairment.

An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. For the purpose of assessing impairment, assets are grouped at the lowest levels for which there are largely independent cash inflows, or cash-generating units, which for goodwill represent the lowest level within the entity at which the goodwill is monitored for internal management purposes. Prior impairments of non-financial assets, other than goodwill, are reviewed for possible reversal at each reporting date.

Receivables

Receivables comprise trade receivables and other receivables. Receivables are classified as loans and receivables constituting financial assets with fixed or determinable payments that are not listed on an active market and are not derivative financial instruments.

On initial recognition, receivables are measured at fair value and, subsequently, at amortized cost, usually equaling nominal value less a provision for bad debts. Provisions for bad debts are determined on the basis of an individual assessment of each receivable and recognized using an allowance account.

Prepayments

Prepayments comprise costs relating to a future financial period. Prepayments are measured at cost.

Cash and Cash Equivalents

Cash and cash equivalents comprise cash and demand deposits with financial institutions. Cash and cash equivalents are measured at fair value.

Shareholders’ Equity

The share capital comprises the nominal amount of the parent company’s ordinary shares, each at a nominal value of DKK 1, or approximately €0.13. All shares are fully paid.

Share premium reserve comprises the amounts received, attributable to shareholders’ equity, in excess of the nominal amount of the shares issued at the parent company’s capital increases, reduced by any expenses directly attributable to the capital increases.

Foreign currency translation reserve includes exchange rate adjustments of equity investments in our group enterprises.

Reserve for share-based payment represents the corresponding entries to the share-based payment recognized in the profit or loss, arising from our warrant programs.

Retained earnings or accumulated deficit represent a company’s accumulated profit or losses from operations.

Provisions

Provisions are recognized when we have an existing legal or constructive obligation as a result of events occurring prior to or on the balance sheet date, and it is probable that the utilization of economic resources will be required to settle the obligation. Provisions are measured as the best estimate of the expense necessary to settle the obligation at the balance sheet date. Provisions that are estimated to mature after more than one year after the balance sheet date are measured at their present values.

Leases

Leases of property, plant and equipment, where we have substantially all of the risks and rewards of ownership, are classified as finance leases. Other leases are classified as operating leases.

Assets held under finance leases are recognized in the balance sheet at the inception of the lease term at the lower of the fair value of the asset or the net present value of the future minimum lease payments. A liability equaling the asset is recognized in the balance sheet, allocated between non-current and current liabilities. Each lease payment is separated between an interest element, recognized as a financial expense, and a reduction of the lease liability.

Assets held under finance leases are depreciated over the shorter of the asset’s useful life and the lease term.

Lease payments on operating leases are recognized on a straight-line basis in profit or loss over the term of the lease.

Total commitment under operating leases is disclosed in the notes to the consolidated financial statements.

Other Financial Liabilities

Other financial liabilities comprise trade payables, payables to public authorities and accrued expenses.

On initial recognition, other financial liabilities are measured at fair value less any transaction costs. Subsequently, these liabilities are measured at amortized cost applying the effective interest method to the effect that the difference between proceeds and nominal amount is recognized in the consolidated statement of profit or loss as a financial expense over the term of the liability.

Deferred Income

Deferred income comprises income received for recognition in subsequent financial years. Deferred income typically arises from up-front payments under our collaboration agreements related to license grants or up-front funding of development activities. If we are participating in continued development of product candidates, up-front payments are recognized as deferred income and recognized as revenue over the anticipated period in which we are involved in the development activities. Deferred income is measured at the fair value of the income received.

Cash Flow Statement

The cash flow statement shows cash flows from operating, investing and financing activities as well as cash and cash equivalents at the beginning and the end of the financial year.

Cash flows from operating activities are presented using the indirect method and calculated as the profit or loss adjusted for non-cash items, working capital changes as well as financial income, financial expenses and income taxes paid.

Cash flows from investing activities comprise payments in connection with acquisitions, development, improvement and sale, etc. of intangible assets, property, plant and equipment, and group enterprises.

Cash flows from financing activities comprise changes in the share capital of Ascendis Pharma A/S and related costs as well as the raising and repayment of loans and installments on interest-bearing debt. Cash flows from financing activities also include lease payments made on assets held under finance leases.

The effect of exchange rates changes on cash and cash equivalents held or due in a foreign currency is presented separately from cash flows from operating, investing and financing activities.

Cash flows in currencies other than the functional currency are recognized in the cash flow statement, using the average exchange rates.

Cash and cash equivalents comprise cash at hand and deposits with financial institutions.

Segment Reporting

We are managed and operated as one operating and reportable segment. No separate operating segments or reportable segments have been identified in relation to product candidates or geographical markets. Accordingly, we do not disclose segment information on business segments or geographical markets.

Basic EPS

Basic Earnings per Share, or EPS, is calculated as the net income or loss from continuing operations for the period divided by the weighted average number or ordinary shares outstanding.

Diluted EPS

Diluted earnings per share is calculated as the net income or loss from continuing operations for the period divided by the weighted average number of ordinary shares outstanding adjusted for the dilutive effect of share equivalents. If the statement of profit or loss shows a net loss, no adjustment is made for the dilutive effect, as such effect would be anti-dilutive.

New International Financial Reporting Standards Not Yet Effective

The IASB has issued, and the European Union has adopted, a number of new or amended standards, which have not yet become effective. Therefore, these new standards have not been incorporated in these consolidated financial statements. Our financial reporting is expected to be affected by such new or improved standards to the extent described below.

•

In July 2014, IASB issued the final version of IFRS 9, “Financial Instruments”. IFRS 9 brings together the classification and measurement, impairment and hedge accounting phases of the IASB’s project to replace IAS 39, “Financial Instruments: Recognition and Measurement” and is effective for annual periods beginning on or after January 1, 2018. The standard was endorsed by the EU in 2016. The standard introduces a new impairment model for financial assets measured at amortized cost based on expected losses. It applies to the Company’s bank deposits and trade receivables. Based on a review of the standard, we do not believe that the application of IFRS 9 will have a material impact on amounts reported in respect of the Company’s financial assets and liabilities.

•

In May 2014, IASB issued IFRS 15 “Revenue from Contracts with Customers”. The standard is part of the convergence project with FASB to replace IAS 18 “Revenue”. The new standard will establish a single, comprehensive framework for revenue recognition, based on a five-step model to determine when, how and at what amount revenue is to be recognized depending on whether certain criteria are met. The standard was endorsed by the EU in 2016 and is effective for annual periods beginning on or after January 1, 2018. Our licensing agreements are within the scope of IFRS 15. We have evaluated these contracts against the specific licensing guidance in IFRS 15 and have concluded that the application of IFRS 15, using the retrospective method with the cumulative effect of initially applying this standard recognized at the date of the initial application, will not have any impact on amounts reported in respect of the Company’s revenues arising from these contracts. We currently do not have any other sources of revenue within the scope of IFRS 15.

•

In January 2016, the IASB issued IFRS 16 “Leases”, which requires lessees to recognize assets and liabilities for most leases. For lessors, there is little change to the existing accounting in IAS 17 “Leases”. The new standard will be effective for annual periods beginning on or after January 1, 2019. The standard was endorsed by the EU in 2017. Based on a review of the standard, we believe that the application of IFRS 16 will impact the Company’s balance sheet through recognition of assets and liabilities that are not recognized under the current standard, as the leases are currently classified as operating lease arrangements, with lease commitments disclosed in a note to the financial statements.

Critical Accounting Judgments and Key Sources of Estimation Uncertainty	12 Months Ended
	Dec. 31, 2017
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Critical Accounting Judgments and Key Sources of Estimation Uncertainty	Note 3—Critical Accounting Judgments and Key Sources of Estimation Uncertainty In the application of our accounting policies, we are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. *Critical Judgments in Applying Accounting Policies* The following are the critical judgments, apart from those involving estimates, see below, made in the process of applying our accounting policies and that have the most significant effect on the amounts recognized in our consolidated financial statements. *Revenue Recognition* IAS 18, “Revenues” prescribes the criteria to be fulfilled for revenue being recognizable. Evaluating the criteria for revenue recognition with respect to our research and development and commercialization agreements requires judgment to ensure that all criteria have been fulfilled prior to recognizing any amount of revenue. We generate revenue from collaboration agreements which typically involve multiple elements, including licenses to our technology, transfer of patents, participation in joint development projects with our collaboration partners, and other services in various areas related to the development of new products. As part of evaluating the criteria for revenue recognition, we consider the separability of the individual deliverables in the collaboration agreements and potential allocation of the total consideration received to the individual elements of the agreement. Further, if any up-front elements are considered inseparable from a following development period, the appropriate allocation of an up-front payment over time needs to be determined. We evaluate all of our revenue generating transactions to ensure recognition in accordance with IFRS. We have not signed any new collaboration agreements with external partners in 2017 or 2016. All revenue had been recognized as of December 31, 2017 compared to €0.1 million in deferred income as of December 31, 2016. *Share-Based Payment* IFRS 2, “Share-Based Payment” requires an entity to reflect in its profit or loss and financial position the effects of share-based payment transactions, including expenses associated with transactions in which share options are granted to employees. We have granted warrants to employees, consultants and board members under three different programs as described in Note 6, which are accounted for under IFRS 2. We use the Black-Scholes option-pricing model to value the warrants granted and critical judgments need to be exercised in determining the appropriate input to the valuation model as well as to determine the appropriate way of recognizing the expenses under IFRS 2. Warrants granted under our warrant programs vest on a monthly basis over periods of up to 48 months. Due to the graded vesting, the related expenses are recognized on an accelerated basis; i.e. each tranche of a warrant grant is treated separately for expense recognition purposes. Accordingly, each warrant grant is treated in up to 48 tranches, which are each recognized over the expected useful life of that particular tranche. In total €9.7 million was recognized as share-based payment in the consolidated financial statements for 2017 compared to €7.3 million for 2016 and €1.7 million for 2015. See Note 6 for additional details on our warrant programs and recognition of expenses under IFRS 2. *Internally Generated Intangible Assets* IAS 38, “Intangible Assets” prescribes that intangible assets arising from development projects must be recognized in the balance sheet if the criteria for capitalization are met. That means (1) that the development project is clearly defined and identifiable; (2) that technological feasibility, adequate resources to complete and a market for the product or an internal use of the project can be documented; (3) that the expenditure attributable to the development project can be measured reliably; and (4) that we have the intent to produce and market the product or use it internally. Such an intangible asset shall be recognized if it can be documented that the future income from the development project will exceed the aggregate cost of development, production, sale and administration of the product. Due to the risk associated with drug development, future income from development projects cannot be determined with sufficient certainty until the development activities have been completed and the necessary marketing approvals have been obtained. Accordingly, we do not recognize internally generated intangible assets at this time. *Joint Arrangements / Collaboration Agreements* Collaboration agreements within our industry are often structured so that each party contributes its respective skills in the various phases of a development project. No joint control exists for such collaborations and the parties do not have any financial obligations on behalf of each other. Accordingly, our collaborations are not considered to be joint arrangements as defined in IFRS 11, “Joint Arrangements”. *Key Sources of Estimation Uncertainty* The following are the key assumptions concerning the future, and other key sources of estimation uncertainty at the end of the reporting period, that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year. *Impairment of Goodwill* Determining whether goodwill is impaired requires an estimation of the recoverable amount, being the higher of fair value less costs of disposal or value in use, of the cash-generating units to which goodwill has been allocated. The recoverable amount of the cash-generating units is determined based on an estimation of the Company’s fair value less costs of disposal. We have determined the fair value of goodwill after taking into account the market value of our ADSs representing the enterprise value of our group enterprises as of the balance sheet date. No impairment loss has been recognized in 2017 or 2016. The carrying amount of goodwill at December 31, 2017 and 2016 was €3.5 million. See note 9 for further details. *Recognition of Accruals for Manufacturing and Clinical Trial Activities* Payment terms for contractual work related to development, manufacturing and clinical trial activities do not necessarily reflect the stage of completion of the individual projects and activities. Determination of the stage of completion for ongoing activities includes estimation uncertainties as future efforts to complete the specific activity may be difficult to predict. We have reviewed all significant ongoing activities at the balance sheet date to determine the stage of completion compared to the invoices received and recognized accruals for any additional costs. *Useful Lives of Property, Plant and Equipment and Finite-Lived Intangible Assets* We review the estimated useful lives of property, plant and equipment and finite-lived intangible assets at the end of each reporting period. We have concluded that the useful lives applied for 2017, 2016 and 2015 are appropriate. Except for the above areas, assumptions and estimates are not considered to be critical to the consolidated financial statements. No estimates or judgments have been made involving a material risk of significant adjustments of the assets or liabilities at the balance sheet date.

Revenue

12 Months Ended

Dec. 31, 2017

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Revenue

Note 4—Revenue


	2017		2016		2015
	(EUR’000)
Revenue from the rendering of services		1,530		1,628		3,192
License income		—		2,978		4,926

Total revenue		1,530		4,606		8,118

Revenue from external customers (geographical)
USA		1,530		4,606		7,350
Germany		—		—		487
Switzerland		—		—		281

Total revenue		1,530		4,606		8,118

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2017
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Segment Information	Note 5—Segment Information We are managed and operated as one business unit. No separate business areas or separate business units have been identified in relation to product candidates or geographical markets. Accordingly, we do not disclose information on business segments or geographical markets, except for the geographical information on revenue included in Note 4 and the information regarding major customers included below. In the consolidated financial statements for 2017, one single customer accounts for more than 10% of total revenue. The revenue from this customer amounts to €1.5 million (100%). In the consolidated financial statements for 2016, one single customer accounts for more than 10% of total revenue. The revenue from this customer amounts to €4.6 million (100%). In the consolidated financial statements for 2015, one single customer accounts for more than 10% of total revenue. The revenue from this customer amounts to €7.4 million (91%).

Staff Cost

12 Months Ended

Dec. 31, 2017

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Staff Cost

Note 6—Staff Cost


	2017		2016		2015
	(EUR’000)
Wages and salaries		19,918		15,288		9,211
Share-based payment		9,709		7,321		1,713
Pension costs		324		49		42
Social security costs		1,156		913		697

Total salary expenses		31,107		23,571		11,663

Compensation to Key Management Personnel
Wages and salaries		1,731		1,449		1,397
Share-based payment		3,576		2,548		508
Social security costs		70		72		74

Total compensation to Key Management Personnel		5,377		4,069		1,979

Average number of employees		121		92		63

Staff costs are recognized in the statement of profit or loss as follows:

2017

2016

2015

(EUR’000)

Research and development costs

21,845

15,829

7,199

General and administrative expenses

9,262

7,742

4,464

Total staff costs

31,107

23,571

11,663

Share-based payment

Ascendis Pharma A/S has established warrant programs, equity-settled share-based payment transactions, as an incentive for all of our employees, members of our board of directors and select external consultants.

Warrants are granted by the Board of Directors in accordance with authorizations given to it by the shareholders of Ascendis Pharma A/S. As of December 31, 2017, 6,440,812 warrants had been granted, of which 19,580 warrants have been cancelled, 1,600,845 warrants have been exercised, 2,168 warrants have expired without being exercised, and 197,065 warrants have been forfeited. As of December 31, 2017, our board of directors was authorized to grant up to 1,578,592 additional warrants to our employees, board members and select consultants without preemptive subscription rights for the shareholders of Ascendis Pharma A/S. Each warrant carries the right to subscribe for one ordinary share of a nominal value of DKK 1. The exercise price is fixed at the fair market value of our ordinary shares at the time of grant as determined by our board of directors. The exercise prices of outstanding warrants under our warrant programs range from €6.48 to €31.60 depending on the grant dates. Vested warrants may be exercised in two or four annual exercise periods as described below. Apart from exercise prices and exercise periods, the programs are similar.

Vesting Conditions

Warrants issued during the period from 2008 to 2012 generally vested over 36 months with 1/36 of the warrants vesting per month from the date of grant. However, some of these warrants were subject to shorter vesting periods, to a minimum of 24 months. All such warrants have been exercised or have expired as of December 31, 2017.

Effective from and after December 2012, warrants granted generally vest over 48 months with 1/48 of the warrants vesting per month from the date of grant.

Effective from and after December 2016, certain warrants issued to board members vest over 24 months with 1/24 of the warrants vesting per month from the date of grant.

Warrants generally cease to vest from the date of termination in the event that (i) the warrant holder terminates the employment contract and the termination is not a result of breach of the employment terms by us, or (ii) in the event that we terminate the employment contract and the warrant holder has given us good reason to do so. The warrant holder will, however, be entitled to exercise vested warrants in the first exercise period after termination.

Warrants issued to consultants, advisors and board members only vest so long as the consultant, advisor or board member continues to provide services to us.

Exercise Periods

Vested warrants may be exercised during certain exercise periods each year. For 817,360 outstanding warrants, there are two annual exercise periods that continue for 21 days from and including the day after the publication of (i) the annual report notification—or if such notification is not published—the annual report and (ii) our interim report (six-month report). For these warrants, the last exercise period is 21 days from and including the day after the publication of our interim report for the first half of 2023. For 476,657 outstanding warrants granted in connection with our Preference D financing, there are four annual exercise periods that continue for 21 days following the day of publication of (i) our interim report (three-month report); (ii) the annual report notification—or if such notification is not published—the annual report; (iii) our interim report (six-month report); and (iv) our interim report (nine-month report). For these warrants, the last exercise period is 21 days following the publication of our interim report (nine-month report) in 2023. For 3,327,137 warrants granted on or after December 18, 2015, there are four annual exercise periods; each exercise period begins two full trading days after the publication of the public release of our earnings data of a fiscal quarter and continues until the end of the second-to-last trading day in which quarter the relevant earnings release is published. The warrants granted in December 2015 and later expire ten years after the grant date.

In the event of liquidation, a merger, a demerger or a sale or share exchange of more than 50% of our share capital, the warrantholders may be granted an extraordinary exercise period immediately prior to the transaction in which warrants may be exercised.

Warrants not exercised by the warrant holder during the last exercise period shall become null and void without further notice or compensation or payment of any kind to the warrant holder.

If the warrant holder is a consultant, advisor or board member, the exercise of warrants is conditional upon the warrantholder’s continued service to us at the time the warrants are exercised. If the consultant’s, advisor’s or board member’s relationship with us should cease without this being attributable to the warrantholder’s actions or omissions, the warrantholder shall be entitled to exercise vested warrants in the pre-defined exercise periods.

Adjustments

Warrantholders are entitled to an adjustment of the number of warrants issued and/or the exercise price applicable in the event of certain corporate changes. Events giving rise to an adjustment include, among other things, increases or decreases to our share capital at a price below or above market value, respectively, the issuance of bonus shares, changes in the nominal value of each share, and payment of dividends in excess of 10% of the Company’s equity.

On January 13, 2015, in preparation for the Company’s IPO, the shareholders decided at an extraordinary general meeting to issue bonus shares in the ratio of 3:1 of the Company’s authorized, issued and outstanding ordinary and preference shares. The decision had a corresponding impact on the number of warrants issued and the exercise prices for outstanding warrants. Accordingly, the number of warrants was adjusted upwards in the ratio of 3:1 with a corresponding downward adjustment of the exercise prices in the ratio of 3:1. The effect of the bonus shares has been retrospectively reflected in all periods presented in these financial statements.

Warrant Activity

The following table specifies the warrant activity during the year:


	Total Warrants			Weighted Average Exercise Price EUR
Outstanding at January 1, 2015		2,999,824			5.70

Granted during the year		1,022,908			15.68
Exercised during the year		(1,292,462	)		3.34
Forfeited during the year		(112,199	)		7.65
Expired during the year		(2,168	)		3.06

Outstanding at December 31, 2015		2,615,903			10.69

Granted during the year		1,202,500			17.69
Exercised during the year		(115,212	)		7.63
Forfeited during the year		(11,426	)		13.88
Expired during the year		—			—

Outstanding at December 31, 2016		3,691,765			13.05

Granted during the year		1,196,000			30.15
Exercised during the year		(193,171	)		8.49
Forfeited during the year		(73,440	)		16.42
Expired during the year		—			—
Outstanding at December 31, 2017		4,621,154			17.62

Vested at the balance sheet date		2,034,791			11.48

As of December 31, 2017, a total of 4,621,154 warrants were outstanding with a weighted average exercise price of €17.62. 2,034,791 of these warrants had vested as of December 31, 2017 with a weighted average exercise price of €11.48. For comparison, as of December 31, 2016, a total of 3,691,765 warrants were outstanding with a weighted average exercise price of €13.05. 1,439,066 of these warrants had vested as of December 31, 2016 with a weighted average exercise price of €9.36. As of December 31, 2015, a total of 2,615,903 warrants were outstanding with a weighted average exercise price of €10.69. 864,623 of these warrants had vested as of December 31, 2015 with a weighted average exercise price of €7.74.

Warrant Compensation Costs

Warrant compensation costs are determined with basis in the grant date fair value of the warrants granted and recognized over the vesting period. Fair value of the warrants is calculated at the grant dates by use of the Black-Scholes Option Pricing model with the following assumptions: (1) an exercise price equal to or above the estimated market price of our shares at the date of grant; (2) an expected lifetime of the warrants determined as a weighted average of the time from grant date to date of becoming exercisable and from grant date to expiry of the warrants; (3) a risk free interest rate equaling the effective interest rate on a Danish government bond with the same lifetime as the warrants; (4) no payment of dividends; and (5) a volatility for comparable companies for a historic period equaling the expected lifetime of the warrants. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the warrants is indicative of future trends. The expected volatility has been calculated using a simple average of daily historical data of comparable publicly traded companies, as we do not have sufficient data for the volatility of our own share price.

The following table summarizes the input to the Black-Scholes Option Pricing model and the calculated fair values for warrant grants in 2017, 2016 and 2015:


	2017	2016	2015
Expected volatility	54 — 60%	57 — 60%	61 — 63%
Risk-free interest rate	(0.34) — 0.25%	(0.32) — 0.30%	0.25 — 0.45%
Expected life of warrants (years)	5.05 — 7.10	5.05 — 7.13	5.05 — 7.05
Weighted average exercise price	€30.15	€17.69	€15.67
Fair value of warrants granted in the year	€9.65 — 17.29	€5.78 — 11.07	€8.02 — 9.45

Warrant compensation cost is recognized in the statement of profit or loss over the vesting period of the warrants granted.

2017

2016

2015

(EUR’000)

Research and development costs

4,775

3,722

718

General and administrative expenses

4,934

3,599

995

Total warrant compensation costs

9,709

7,321

1,713

Value of Outstanding Warrants

For the year ended December 31, 2017, the aggregate fair value of outstanding warrants has been calculated at €111.9 million using the Black-Scholes Option Pricing model. The following table specifies the weighted average exercise price and the weighted average life of outstanding warrants:


	Year of Grant		Number of Warrants		Weighted Average Exercise Price EUR		Weighted Average Life (months)
Granted in December		2012		609,383		8.00		91-92
Granted in March, June, September and December		2013		91,681		8.00		91-92
Granted in January, March, June and November		2014		592,953		6.78		92-93
Granted in December		2015		963,658		15.68		119-120
Granted in March, May, June, July, August, November and December		2016		1,167,479		17.67		120
Granted in January, February, March, April, May, June, July, August, September, October, November and December		2017		1,196,000		30,15		120

Outstanding at December 31, 2017				4,621,154		17.62		112

Vested at the balance sheet date				2,034,791		11.48

For the year ended December 31, 2016, the aggregate fair value of outstanding warrants has been calculated at €49.4 million using the Black-Scholes Option Pricing model. The following table specifies the weighted average exercise price and the weighted average life of outstanding warrants:


	Year of Grant		Number of Warrants		Weighted Average Exercise Price EUR		Weighted Average Life (months)
Granted in December		2012		645,655		8.00		91-92
Granted in March, June, September and December		2013		128,848		8.00		91-92
Granted in January, March, June, and November		2014		700,614		6.89		92-93
Granted in December		2015		1,016,596		15.68		119-120
Granted in March, May, June, July, August, November and December		2016		1,200,052		17.70		120

Outstanding at December 31, 2016				3,691,765		13.05		109

Vested at the balance sheet date				1,439,066		9.36

For the year ended December 31, 2015, a total of 2,615,903 warrants were outstanding with a weighted average exercise price of €10.69 and weighted average life of 102 to 103 months:


	Year of Grant		Number of Warrants		Weighted Average Exercise Price EUR		Weighted Average Life (months)
Granted in December		2012		665,188		8.00		91-92
Granted in March, June, September and December		2013		137,349		8.00		91-92
Granted in January, March, June, and November		2014		790,458		7.04		92-93
Granted in December		2015		1,022,908		15.68		119-120

Outstanding at December 31, 2015				2,615,903		10.69		102-103

Vested at the balance sheet date				864,623		7.74

Finance Income and Finance Expenses

12 Months Ended

Dec. 31, 2017

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Finance Income and Finance Expenses

Note 7—Finance Income and Finance Expenses


	2017			2016			2015
	(EUR’000)
Interest income		923			123			13
Exchange rate gains		—			7,177			11,035

Total finance income		923			7,300			11,048

Interest expense		(97	)		(5	)		(6	)
Exchange rate losses		(13,659	)		(3,107	)		(2,791	)

Total finance expenses		(13,756	)		(3,112	)		(2,797	)

Tax on Profit/Loss for the Year and Deferred Tax

12 Months Ended

Dec. 31, 2017

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Tax on Profit/Loss for the Year and Deferred Tax

Note 8—Tax on Profit/Loss for the Year and Deferred Tax


	2017			2016			2015
	(EUR’000)
Tax on profit/(loss) for the year:
Current tax		(477	)		(227	)		(652	)

		(477	)		(227	)		(652	)

Tax for the year can be explained as follows:
Profit/(loss) before tax		(124,374	)		(68,732	)		(33,574	)
Tax at the Danish corporation tax rate of 22%		(27,362	)		(15,121	)		(7,890	)

Tax effect of:
Non-deductible costs		1,553			1,153			359
Additional tax deductions		(356	)		(65	)		(703	)
Tax credits		1,028			740			787
Other effects		(598	)		(266	)		(330	)
Change in unrecognized deferred tax assets		25,258			13,332			7,125

Tax on profit/(loss) for the year		(477	)		(227	)		(652	)

Unrecognized deferred tax asset:
Tax deductible losses		(52,084	)		(27,188	)		(13,404	)
Deferred income		(86	)		(144	)		(725	)
Other temporary differences		(545	)		(124	)		5

Unrecognized deferred tax asset		(52,715	)		(27,456	)		(14,124	)

The deferred tax assets have not been recognized in the statement of financial position due to uncertainty relating to the future utilization. The deferred tax asset can be carried forward without timing limitations. For tax losses carried forward, certain limitations exist for amounts to be utilized each year.

Under Danish tax legislation, tax losses may be partly refunded by the tax authorities to the extent such tax losses arise from research and development activities. For the year ended December 31, 2017, the jointly taxed Danish entities had a negative taxable income, and accordingly were entitled to a tax refund of approximately €0.7 million, compared to approximately €0.7 million for the year ended December 31, 2016.

Intangible Assets

12 Months Ended

Dec. 31, 2017

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Intangible Assets

Note 9—Intangible Assets


	Goodwill
	(EUR’000)
Cost:
At January 1, 2016		3,495
Additions		—

December 31, 2016		3,495
Additions		—
December 31, 2017		3,495

Accumulated impairment:
At January 1, 2016		—
Impairment charge		—

At December 31, 2016		—
Impairment charge		—
At December 31, 2017		—

Carrying amount:
At December 31, 2017		3,495

At December 31, 2016		3,495

Goodwill relates to the acquisition of Complex Biosystems GmbH (now Ascendis Pharma GmbH) in 2007. Goodwill was calculated as the excess amount of the purchase price to the fair value of identifiable assets acquired, and liabilities assumed at the acquisition date. Business combinations recognized before January 1, 2012, the Group’s date of transition to IFRS, have not been adjusted to IFRS 3, “Business Combinations”. Ascendis Pharma GmbH was initially a separate technology platform company, but is now an integral part of our research and development activities, including significant participation in the development services provided to our external collaboration partners. Accordingly, it is not possible to look separately at Ascendis Pharma GmbH when considering the recoverable amount of the goodwill. Goodwill is monitored and tested for impairment on a consolidated level as we are considered to represent one cash-generating unit. The recoverable amount of the cash-generating unit is determined based on an estimation of the Company’s fair value less costs of disposal. We have determined the fair value of goodwill after taking into account the market value of our ADSs representing the enterprise value of our group enterprises as of the balance sheet date. The computation of our enterprise value significantly exceeded the carrying amount of our equity, leaving sufficient value to cover the carrying amount of goodwill. With reference to materiality, we have concluded that no further assumptions need to be applied in determining whether goodwill is impaired.

Goodwill is tested for impairment on a yearly basis at December 31, or more frequently, if indications of impairment are identified. There have been no impairments recognized in any of the periods presented.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2017

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Property, Plant and Equipment

Note 10—Property, Plant and Equipment


	Plant and Machinery			Other Equipment			Leasehold Improve- ments			Total
	(EUR’000)
Cost:
At January 1, 2016		3,693			1,227			574			5,494
Additions		274			352			46			672
Disposals		—			(85	)		—			(85	)

At December 31, 2016		3,967			1,494			620			6,081
Additions		540			371			30			941
Disposals		—			(224	)		—			(224	)

At December 31, 2017		4,507			1,641			650			6,798

Accumulated depreciation:
At January 1, 2016		(2,284	)		(646	)		(209	)		(3,139	)
Depreciation charge		(392	)		(225	)		(60	)		(677	)
Disposals		—			85			—			85

At December 31, 2016		(2,676	)		(786	)		(269	)		(3,731	)
Depreciation charge		(378	)		(292	)		(64	)		(734	)
Disposals		—			224			—			224

December 31, 2017		(3,054	)		(854	)		(333	)		(4,241	)

Carrying amount:
At December 31, 2017		1,453			787			317			2,557

At December 31, 2016		1,291			708			351			2,350


	2017			2016			2015
	(EUR’000)
Depreciation charges are recognized as:
Research and development costs		(701	)		(645	)		(550	)
General and administrative expenses		(33	)		(32	)		(8	)

Total depreciation charges		(734	)		(677	)		(558	)

Investments in Group Enterprises

12 Months Ended

Dec. 31, 2017

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Investments in Group Enterprises

Note 11—Investments in Group Enterprises

Investments in Group enterprises comprise:


Company	Domicile	Ownership
Ascendis Pharma GmbH	Germany		100	%
Ascendis Pharma, Inc.	USA		100	%
Ascendis Pharma Ophthalmology Division A/S	Denmark		100	%
Ascendis Pharma Endocrinology Division A/S	Denmark		100	%
Ascendis Pharma Bone Diseases A/S	Denmark		100	%
Ascendis Pharma Growth Disorders A/S	Denmark		100	%

Share Capital

12 Months Ended

Dec. 31, 2017

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Share Capital

Note 12—Share Capital

The share capital of Ascendis Pharma A/S consists of 36,984,292 shares at a nominal value of DKK 1, all in the same share class.

The number of shares of the Company are as follows:


	2017		2016		2015		2014		2013
Changes in share capital
Beginning of year		32,421,121		25,128,242		16,935,780		10,801,948		10,801,948
Increase through cash contribution		4,563,171		7,292,879		8,192,462		6,133,832		—

End of year		36,984,292		32,421,121		25,128,242		16,935,780		10,801,948

Distributable Equity	12 Months Ended
Distributable Equity	Dec. 31, 2017
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Distributable Equity	Note 13—Distributable Equity *Share Premium Reserve* Share premium comprises the amounts received, attributable to shareholders’ equity, in excess of the nominal amount of the shares issued at the parent company’s capital increases, reduced by any expenses directly attributable to the capital increases. Under Danish legislation, share premium is an unrestricted reserve that is available to be distributed as dividends to a company’s shareholders. Also under Danish legislation, the share premium reserve can be used to offset accumulated deficits. *Foreign Currency Translation Reserve* Exchange differences relating to the translation of the results and net assets of our foreign operations from their functional currencies to our presentation currency are recognized directly in other comprehensive income and accumulated in the foreign currency translation reserve. The foreign currency translation reserve is an unrestricted reserve that is available to be distributed as dividends to a company’s shareholders. *Share-Based Payment Reserve* Warrants granted under our employee warrant program carry no rights to dividends and no voting rights. The share-based payment reserve represents the fair value of warrants recognized from grant date. Further details of the employee warrant program are provided in Note 6. Share-based payment reserce is an unrestricted reserve that is available to be distributed as dividends to a company’s shareholders. *Retained Earnings or Accumulated Deficits* Retained earnings or accumulated deficits represent the accumulated profit or losses from the Company’s operations. A positive balance of retained earnings is available to be distributed as dividends to a company’s shareholders.

Deferred Income	12 Months Ended
Deferred Income	Dec. 31, 2017
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Deferred Income	Note 14—Deferred Income We enter into collaboration agreements which are considered to include multiple elements for revenue recognition purposes. Typically, the collaboration agreements include patent transfers, licenses to our technology platform, development activities and other services related to the development of new products. The elements included in the collaboration agreements typically are inseparable and the payments received from the collaboration partners do not necessarily match the individual deliverables with respect to timing and amount. Accounting for such revenue generating transactions under IAS 18 requires that any consideration received before satisfaction of all criteria for revenue recognition be recognized as deferred income in the balance sheet and recognized as revenue in the consolidated statement of profit or loss as the criteria for revenue recognition are satisfied.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2017

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Commitments and Contingencies

Note 15—Commitments and Contingencies

Operating Leases

We operate from leased premises in Denmark, Germany and the US. In addition, we have entered into operating leases for equipment. The total lease commitment under operating leases was:


	2017		2016
	(EUR’000)
Within 1 year		2,951		1,608
Within 1 to 5 years		12,485		4,309
After 5 years		3,957		428

Total commitments held under operating leases		19,393		6,345

Total expenses under operating leases were €1.6 million, €1.5 million, and €0.9 million for the financial years ended December 31, 2017, 2016, and 2015, respectively.

Financial Risk Management and Financial Instruments

12 Months Ended

Dec. 31, 2017

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Financial Risk Management and Financial Instruments

Note 16—Financial Risk Management and Financial Instruments

Capital Management

We manage our capital to ensure that all group entities will be able to continue as going concerns while maximizing the return to shareholders through the optimization of our debt and equity balance. Our overall strategy in this regard has remained unchanged since 2012.

Our capital structure consists only of equity comprising issued capital, reserves and retained earnings. We do not hold any debt.

We are not subject to any externally imposed capital requirements. We review our capital structure on an ongoing basis. As we do not have external debt, such review currently comprises a review of the adequacy of our capital compared to the resources required for carrying out our activities.

Financial Risk Management Objectives

We regularly monitor the access to domestic and international financial markets, manage the financial risks relating to our operations, and analyze exposures to risk, including market risk, such as currency risk and interest rate risk, credit risk and liquidity risk.

We seek to minimize the effects of these risks by managing transactions and holding positions in the various currencies used in our operations. We do not enter into or trade financial instruments for speculative purposes.

Market Risk

Our activities primarily expose our group enterprises to the financial risks of changes in foreign currency exchange rates and interest rates. We do not enter into derivative financial instruments to manage our exposure to such risks.

Foreign Currency Risk Management

We are exposed to foreign exchange risk arising from various currency exposures, primarily with respect to the US Dollar, the British Pound and the Danish Krone. Our functional currency is the Euro, but we have received payments in US Dollars under our collaborations. Further, the proceeds from our series D financing in November 2014, our IPO in February 2015 and our follow-on offerings in October 2016 and September 2017 were in US Dollars. We seek to minimize our exchange rate risk by maintaining cash positions in the currencies in which we expect to incur the majority of our future expenses and we make payments from those positions.

The carrying amounts of our monetary assets and liabilities split on currencies at the end of the reporting period are as follows (EUR equivalents):


	2017			2016
	(EUR’000)
Danish Kroner (DKK)		2,789			404
US Dollars (USD)		183,362			118,741
Euro (EUR)		(3,767	)		52,591
British Pounds (GBP)		1,163			839
Other		(2,387	)		(1,713	)

	181,160			170,862

Foreign Currency Sensitivity Analysis

We are primarily exposed to US Dollars, or USD, British Pounds, or GBP, and Danish Kroner, or DKK. There is an official target zone of 4.5% between DKK and EUR, which limits the likelihood of significant fluctuations between those two currencies in a short time-frame.

The following table details our sensitivity to a 10% increase and decrease in the EUR against the USD and the GBP, respectively. 10% represents our assessment of the reasonably possible change in foreign currency rates. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and adjusts their translation at the period-end for a 10% change in foreign currency rate. The sensitivity analysis includes external payables and receivables as well as balances held in foreign currencies. A positive number indicates an increase in profit before tax or equity where the USD strengthens 10% against the EUR.

For a 10% weakening of USD against EUR, there would be a comparable negative impact on the profit before tax or equity.


	2017		2016
	(EUR’000)
Profit or loss before tax		18,336		11,874
Equity		18,336		11,874

With respect to GBP, the following table shows the effect of a 10% change in exchange rates against the EUR. A positive number indicates an increase in profit before tax or equity where the GBP strengthens 10% against the EUR. For a 10% weakening of GBP against EUR, there would be a comparable negative impact on the profit before tax or equity.


	2017		2016
	(EUR’000)
Profit or loss before tax		116		84
Equity		116		84

We believe the sensitivity analysis is representative of the inherent foreign exchange risk associated with our operations.

Interest Rate Risk Management

As we have no interest-bearing debt to third parties, our exposure to interest rate risk primarily relates to the interest rates for our positions of cash and cash equivalents. Our future interest income from interest-bearing bank deposits and short-term investments may fall short of expectations due to changes in interest rates. We do not consider the effects of interest rate fluctuations to be a material risk to our financial position. Accordingly, no interest sensitivity analysis has been presented.

Credit Risk Management

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss. We consider all of our material counterparties to be creditworthy. Our exposure to credit risk is continuously monitored, in particular, if agreed payments are delayed.

While the concentration of credit risk is significant, we consider the credit risk for each of our individual customers to be low. Accordingly, we have made no provision for doubtful accounts.

The credit risk on cash and cash equivalents is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. To spread our credit risk, we deposit our cash reserves with several banks.

Liquidity Risk Management

We manage our liquidity risk by maintaining adequate cash reserves and banking facilities, and by continuously monitoring our cash forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2017
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Related Party Transactions	Note 17—Related Party Transactions Our major shareholders, the Board of Directors and the members of our senior management are considered to be related parties as they can exercise a significant influence on our operations. Related parties also include undertakings in which such individuals have significant interests. Additionally, all our group enterprises are considered related parties. We have entered into employment agreements with, and issued warrants to, the members of our senior management and our independent Board of Directors. In addition, we are paying fees for board tenure and board committee tenure to the independent members of our Board of Directors. Apart from equity transactions and remuneration to the Company’s Board of Directors and senior management as specified in Note 6, the following transactions took place between the Group and its related parties during the financial year: We have entered into indemnification agreements with our board members and members of our senior management. Except for the information disclosed above, we have not undertaken any significant transactions with members of the Board of Directors, our senior management or the major shareholders, or undertakings in which the identified related parties have significant interests.

Ownership

12 Months Ended

Dec. 31, 2017

Text block1 [abstract]

Ownership

Note 18—Ownership

The following persons, or groups of affiliated persons, are known by us to beneficially own more than 5% of our outstanding ordinary shares:

•

Entities affiliated with RA Capital Management, LLC, USA

•

OrbiMed Private Investments V, L.P., USA

•

Entities affiliated with FMR LLC, USA

•

Baker Bros. Advisors LP, USA

•

Sofinnova Venture Partners IX, L.P., USA

•

Entities affiliated with Vivo Capital, USA

•

Entities affiliated with EcoR1 Capital, LLC, USA

The Company’s American Depository Shares are held through BNY (Nominees) Limited as nominee, of The Bank of New York Mellon, UK (as registered holder of the Company’s outstanding ADSs).

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2017
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Subsequent Events	Note 19—Subsequent Events On February 21, 2018, the Company entered into an underwriting agreement with J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Credit Suisse Securities (USA) LLC as representatives of the several underwriters named therein (collectively, the “Underwriters”), pursuant to which the Company agreed to issue and sell 3,947,368 ADSs to the Underwriters (the “February 2018 Offering”). The ADSs were sold at a public offering price of $57.00 per ADS, and were purchased by the Underwriters from the Company at a price of $53.58 per ADS. Under the terms of the Underwriting Agreement, the Company granted the Underwriters the right, for 30 days, to purchase from the Company up to 592,105 additional ADSs at the public offering price, less the underwriting commissions. On February 22, 2018, the Underwriters exercised their option to purchase the additional 592,105 ADSs in full. On February 26, 2018, the February 2018 Offering closed and the Company completed the sale and issuance of an aggregate of 4,539,473 ADSs. The Company received net proceeds from the February 2018 Offering of approximately $242.5 million, or €196.8 million at the date of closing, after deducting the Underwriters’ commissions and the Company’s estimated offering expenses. No other events have occurred after the balance sheet date that would influence the evaluation of these consolidated financial statements.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2017

Text block1 [abstract]

Basis of Preparation

Basis of Preparation

The accounting policies are consistent with those of the previous year.

Our consolidated financial statements have been prepared under the historical cost convention, apart from certain financial instruments that are measured at fair value at initial recognition.

Going Concern

Going Concern

Recognition and Measurement

Recognition and Measurement

Income is recognized in the consolidated statement of profit or loss when earned, whereas costs are recognized by the amounts attributable to the financial year.

Basis of Consolidation

Basis of Consolidation

Consolidation Principles

Consolidation Principles

Our subsidiaries are fully consolidated from the date upon which control is transferred to us. They are deconsolidated from the date control ceases.

Foreign Currency

Foreign Currency

Business Combinations

Business Combinations

Revenue

Revenue

Revenue is measured at fair value of the consideration received or receivable. Revenue is stated net of value added tax, duties, etc. collected on behalf of a third party and discounts.

Research and Development Costs

Research and Development Costs

Government grants received to cover expenses incurred are recognized in research and development costs.

General and Administrative Expenses

General and Administrative Expenses

General and administrative expenses are recognized in the consolidated statement of profit or loss in the period to which they relate.

Share-based Incentive Programs

Share-based Incentive Programs

Any social security contributions payable in connection with the grant or exercise of the warrants are recognized as incurred.

The assumptions used for estimating the fair value of share-based payment transactions are disclosed in Note 6.

Finance Income and Expenses

Finance Income and Expenses

Income Taxes

Income Taxes

Deferred tax is calculated based on the planned use of each asset and the settlement of each liability, respectively.

Goodwill

Intangible Assets

Goodwill

Property, Plant and Equipment

Property, Plant and Equipment

Depreciation is calculated on a straight-line basis from the following assessment of an asset’s expected useful life:


Process plant and machinery		5 - 10 years
Other fixtures and fittings, tools and equipment		3 - 5 years
Leasehold improvements		3 - 5 years

Depreciation methods, useful lives and residual amounts are reassessed at least annually.

Property, plant and equipment are written down to the lower of recoverable amount and carrying amount, as described in the “Impairment” section below.

Impairment

Impairment

Receivables

Receivables

Prepayments

Prepayments

Prepayments comprise costs relating to a future financial period. Prepayments are measured at cost.

Cash and Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents comprise cash and demand deposits with financial institutions. Cash and cash equivalents are measured at fair value.

Shareholders' Equity

Shareholders’ Equity

The share capital comprises the nominal amount of the parent company’s ordinary shares, each at a nominal value of DKK 1, or approximately €0.13. All shares are fully paid.

Foreign currency translation reserve includes exchange rate adjustments of equity investments in our group enterprises.

Reserve for share-based payment represents the corresponding entries to the share-based payment recognized in the profit or loss, arising from our warrant programs.

Retained earnings or accumulated deficit represent a company’s accumulated profit or losses from operations.

Provisions

Provisions

Leases

Leases

Leases of property, plant and equipment, where we have substantially all of the risks and rewards of ownership, are classified as finance leases. Other leases are classified as operating leases.

Assets held under finance leases are depreciated over the shorter of the asset’s useful life and the lease term.

Lease payments on operating leases are recognized on a straight-line basis in profit or loss over the term of the lease.

Total commitment under operating leases is disclosed in the notes to the consolidated financial statements.

Other Financial Liabilities

Other Financial Liabilities

Other financial liabilities comprise trade payables, payables to public authorities and accrued expenses.

Deferred Income

Deferred Income

Cash Flow Statement

Cash Flow Statement

The cash flow statement shows cash flows from operating, investing and financing activities as well as cash and cash equivalents at the beginning and the end of the financial year.

The effect of exchange rates changes on cash and cash equivalents held or due in a foreign currency is presented separately from cash flows from operating, investing and financing activities.

Cash flows in currencies other than the functional currency are recognized in the cash flow statement, using the average exchange rates.

Cash and cash equivalents comprise cash at hand and deposits with financial institutions.

Segment Reporting

Segment Reporting

Basic EPS

Basic EPS

Basic Earnings per Share, or EPS, is calculated as the net income or loss from continuing operations for the period divided by the weighted average number or ordinary shares outstanding.

Diluted EPS

Diluted EPS

New International Financial Reporting Standards and Interpretations Not Yet Effective

New International Financial Reporting Standards Not Yet Effective

•

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

Text block1 [abstract]

Schedule of Asset's Expected Useful Life

Depreciation is calculated on a straight-line basis from the following assessment of an asset’s expected useful life:


Process plant and machinery		5 - 10 years
Other fixtures and fittings, tools and equipment		3 - 5 years
Leasehold improvements		3 - 5 years

Revenue (Tables)

12 Months Ended

Dec. 31, 2017

Text block1 [abstract]

Summary of Segment Revenue


	2017		2016		2015
	(EUR’000)
Revenue from the rendering of services		1,530		1,628		3,192
License income		—		2,978		4,926

Total revenue		1,530		4,606		8,118

Revenue from external customers (geographical)
USA		1,530		4,606		7,350
Germany		—		—		487
Switzerland		—		—		281

Total revenue		1,530		4,606		8,118

Staff Cost (Tables)

12 Months Ended

Dec. 31, 2017

Summary of Staffing Cost


	2017		2016		2015
	(EUR’000)
Wages and salaries		19,918		15,288		9,211
Share-based payment		9,709		7,321		1,713
Pension costs		324		49		42
Social security costs		1,156		913		697

Total salary expenses		31,107		23,571		11,663

Compensation to Key Management Personnel
Wages and salaries		1,731		1,449		1,397
Share-based payment		3,576		2,548		508
Social security costs		70		72		74

Total compensation to Key Management Personnel		5,377		4,069		1,979

Average number of employees		121		92		63

Summary of Staff Costs Recognized in the Statement of Profit and Loss

Staff costs are recognized in the statement of profit or loss as follows:

2017

2016

2015

(EUR’000)

Research and development costs

21,845

15,829

7,199

General and administrative expenses

9,262

7,742

4,464

Total staff costs

31,107

23,571

11,663

Summary of Fair Values for Warrant Grants

The following table summarizes the input to the Black-Scholes Option Pricing model and the calculated fair values for warrant grants in 2017, 2016 and 2015:


	2017	2016	2015
Expected volatility	54 — 60%	57 — 60%	61 — 63%
Risk-free interest rate	(0.34) — 0.25%	(0.32) — 0.30%	0.25 — 0.45%
Expected life of warrants (years)	5.05 — 7.10	5.05 — 7.13	5.05 — 7.05
Weighted average exercise price	€30.15	€17.69	€15.67
Fair value of warrants granted in the year	€9.65 — 17.29	€5.78 — 11.07	€8.02 — 9.45

Summary of Warrant Compensation Cost

Warrant compensation cost is recognized in the statement of profit or loss over the vesting period of the warrants granted.

2017

2016

2015

(EUR’000)

Research and development costs

4,775

3,722

718

General and administrative expenses

4,934

3,599

995

Total warrant compensation costs

9,709

7,321

1,713

Schedule of Weighted Average Exercise Price and Weighted Average Life of Outstanding Warrants


	Year of Grant		Number of Warrants		Weighted Average Exercise Price EUR		Weighted Average Life (months)
Granted in December		2012		609,383		8.00		91-92
Granted in March, June, September and December		2013		91,681		8.00		91-92
Granted in January, March, June and November		2014		592,953		6.78		92-93
Granted in December		2015		963,658		15.68		119-120
Granted in March, May, June, July, August, November and December		2016		1,167,479		17.67		120
Granted in January, February, March, April, May, June, July, August, September, October, November and December		2017		1,196,000		30,15		120

Outstanding at December 31, 2017				4,621,154		17.62		112

Vested at the balance sheet date				2,034,791		11.48


	Year of Grant		Number of Warrants		Weighted Average Exercise Price EUR		Weighted Average Life (months)
Granted in December		2012		645,655		8.00		91-92
Granted in March, June, September and December		2013		128,848		8.00		91-92
Granted in January, March, June, and November		2014		700,614		6.89		92-93
Granted in December		2015		1,016,596		15.68		119-120
Granted in March, May, June, July, August, November and December		2016		1,200,052		17.70		120

Outstanding at December 31, 2016				3,691,765		13.05		109

Vested at the balance sheet date				1,439,066		9.36

For the year ended December 31, 2015, a total of 2,615,903 warrants were outstanding with a weighted average exercise price of €10.69 and weighted average life of 102 to 103 months:


	Year of Grant		Number of Warrants		Weighted Average Exercise Price EUR		Weighted Average Life (months)
Granted in December		2012		665,188		8.00		91-92
Granted in March, June, September and December		2013		137,349		8.00		91-92
Granted in January, March, June, and November		2014		790,458		7.04		92-93
Granted in December		2015		1,022,908		15.68		119-120

Outstanding at December 31, 2015				2,615,903		10.69		102-103

Vested at the balance sheet date				864,623		7.74

Warrants [member]

Summary of Warrant Activity

The following table specifies the warrant activity during the year:


	Total Warrants			Weighted Average Exercise Price EUR
Outstanding at January 1, 2015		2,999,824			5.70

Granted during the year		1,022,908			15.68
Exercised during the year		(1,292,462	)		3.34
Forfeited during the year		(112,199	)		7.65
Expired during the year		(2,168	)		3.06

Outstanding at December 31, 2015		2,615,903			10.69

Granted during the year		1,202,500			17.69
Exercised during the year		(115,212	)		7.63
Forfeited during the year		(11,426	)		13.88
Expired during the year		—			—

Outstanding at December 31, 2016		3,691,765			13.05

Granted during the year		1,196,000			30.15
Exercised during the year		(193,171	)		8.49
Forfeited during the year		(73,440	)		16.42
Expired during the year		—			—
Outstanding at December 31, 2017		4,621,154			17.62

Vested at the balance sheet date		2,034,791			11.48

Finance Income and Finance Expenses (Tables)

12 Months Ended

Dec. 31, 2017

Text block1 [abstract]

Schedule of Finance Income and Finance Expenses


	2017			2016			2015
	(EUR’000)
Interest income		923			123			13
Exchange rate gains		—			7,177			11,035

Total finance income		923			7,300			11,048

Interest expense		(97	)		(5	)		(6	)
Exchange rate losses		(13,659	)		(3,107	)		(2,791	)

Total finance expenses		(13,756	)		(3,112	)		(2,797	)

Tax on Profit/Loss for the Year and Deferred Tax (Tables)

12 Months Ended

Dec. 31, 2017

Text block1 [abstract]

Summary of Tax on Profit/Loss and Deferred Tax


	2017			2016			2015
	(EUR’000)
Tax on profit/(loss) for the year:
Current tax		(477	)		(227	)		(652	)

		(477	)		(227	)		(652	)

Tax for the year can be explained as follows:
Profit/(loss) before tax		(124,374	)		(68,732	)		(33,574	)
Tax at the Danish corporation tax rate of 22%		(27,362	)		(15,121	)		(7,890	)

Tax effect of:
Non-deductible costs		1,553			1,153			359
Additional tax deductions		(356	)		(65	)		(703	)
Tax credits		1,028			740			787
Other effects		(598	)		(266	)		(330	)
Change in unrecognized deferred tax assets		25,258			13,332			7,125

Tax on profit/(loss) for the year		(477	)		(227	)		(652	)

Unrecognized deferred tax asset:
Tax deductible losses		(52,084	)		(27,188	)		(13,404	)
Deferred income		(86	)		(144	)		(725	)
Other temporary differences		(545	)		(124	)		5

Unrecognized deferred tax asset		(52,715	)		(27,456	)		(14,124	)

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2017

Text block1 [abstract]

Summary of Goodwill


	Goodwill
	(EUR’000)
Cost:
At January 1, 2016		3,495
Additions		—

December 31, 2016		3,495
Additions		—
December 31, 2017		3,495

Accumulated impairment:
At January 1, 2016		—
Impairment charge		—

At December 31, 2016		—
Impairment charge		—
At December 31, 2017		—

Carrying amount:
At December 31, 2017		3,495

At December 31, 2016		3,495

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2017

Text block1 [abstract]

Summary of Property, Plant and Equipment


	Plant and Machinery			Other Equipment			Leasehold Improve- ments			Total
	(EUR’000)
Cost:
At January 1, 2016		3,693			1,227			574			5,494
Additions		274			352			46			672
Disposals		—			(85	)		—			(85	)

At December 31, 2016		3,967			1,494			620			6,081
Additions		540			371			30			941
Disposals		—			(224	)		—			(224	)

At December 31, 2017		4,507			1,641			650			6,798

Accumulated depreciation:
At January 1, 2016		(2,284	)		(646	)		(209	)		(3,139	)
Depreciation charge		(392	)		(225	)		(60	)		(677	)
Disposals		—			85			—			85

At December 31, 2016		(2,676	)		(786	)		(269	)		(3,731	)
Depreciation charge		(378	)		(292	)		(64	)		(734	)
Disposals		—			224			—			224

December 31, 2017		(3,054	)		(854	)		(333	)		(4,241	)

Carrying amount:
At December 31, 2017		1,453			787			317			2,557

At December 31, 2016		1,291			708			351			2,350


	2017			2016			2015
	(EUR’000)
Depreciation charges are recognized as:
Research and development costs		(701	)		(645	)		(550	)
General and administrative expenses		(33	)		(32	)		(8	)

Total depreciation charges		(734	)		(677	)		(558	)

Investments in Group Enterprises (Tables)

12 Months Ended

Dec. 31, 2017

Text block1 [abstract]

Summary of Investments in Group Enterprises

Investments in Group enterprises comprise:


Company	Domicile	Ownership
Ascendis Pharma GmbH	Germany		100	%
Ascendis Pharma, Inc.	USA		100	%
Ascendis Pharma Ophthalmology Division A/S	Denmark		100	%
Ascendis Pharma Endocrinology Division A/S	Denmark		100	%
Ascendis Pharma Bone Diseases A/S	Denmark		100	%
Ascendis Pharma Growth Disorders A/S	Denmark		100	%

Share Capital (Tables)

12 Months Ended

Dec. 31, 2017

Text block1 [abstract]

Summary of Number of Shares

The number of shares of the Company are as follows:


	2017		2016		2015		2014		2013
Changes in share capital
Beginning of year		32,421,121		25,128,242		16,935,780		10,801,948		10,801,948
Increase through cash contribution		4,563,171		7,292,879		8,192,462		6,133,832		—

End of year		36,984,292		32,421,121		25,128,242		16,935,780		10,801,948

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2017

Text block1 [abstract]

Summary of Lease Commitment under Operating Leases

The total lease commitment under operating leases was:


	2017		2016
	(EUR’000)
Within 1 year		2,951		1,608
Within 1 to 5 years		12,485		4,309
After 5 years		3,957		428

Total commitments held under operating leases		19,393		6,345

Financial Risk Management and Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Net Carrying Amounts of Monetary Assets And Liabilities Split on Currencies

The carrying amounts of our monetary assets and liabilities split on currencies at the end of the reporting period are as follows (EUR equivalents):


	2017			2016
	(EUR’000)
Danish Kroner (DKK)		2,789			404
US Dollars (USD)		183,362			118,741
Euro (EUR)		(3,767	)		52,591
British Pounds (GBP)		1,163			839
Other		(2,387	)		(1,713	)

	181,160			170,862

Ten percentage strengthening in foreign currency USD against EUR [member]

Summary of Foreign Currency Sensitivity Analysis

The following table details our sensitivity to a 10% increase and decrease in the EUR against the USD and the GBP, respectively.


	2017		2016
	(EUR’000)
Profit or loss before tax		18,336		11,874
Equity		18,336		11,874

Ten percentage strengthening in foreign currency GPB against EUR [member]

Summary of Foreign Currency Sensitivity Analysis

The following table details our sensitivity to a 10% increase and decrease in the EUR against the USD and the GBP, respectively.


	2017		2016
	(EUR’000)
Profit or loss before tax		116		84
Equity		116		84

Summary of Significant Accounting Policies - Additional Information (Detail) - 12 months ended Dec. 31, 2017	EUR (€) Segment € / shares	kr / shares
Disclosure of summary of significant accounting policies [line items]
Milestone and royalty payments received \| €	€ 0
Nominal value common shares \| kr / shares		kr 1
Number of reportable segment \| Segment	1
Ordinary shares [member]
Disclosure of summary of significant accounting policies [line items]
Nominal value common shares \| € / shares	€ 0.13

Summary of Significant Accounting Policies - Schedule of Asset's Expected Useful Life (Detail)	12 Months Ended
	Dec. 31, 2017
Bottom of range [member] \| Process plant and machinery [member]
Disclosure of detailed information about property, plant and equipment [line items]
Asset's expected useful life	5 Years
Bottom of range [member] \| Other fixtures and fittings tools and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Asset's expected useful life	3 Years
Bottom of range [member] \| Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Asset's expected useful life	3 Years
Top of range [member] \| Process plant and machinery [member]
Disclosure of detailed information about property, plant and equipment [line items]
Asset's expected useful life	10 Years
Top of range [member] \| Other fixtures and fittings tools and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Asset's expected useful life	5 Years
Top of range [member] \| Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Asset's expected useful life	5 Years

Critical Accounting Judgments and Key Sources of Estimation Uncertainty - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017 EUR (€) Tranche	Dec. 31, 2016 EUR (€)	Dec. 31, 2015 EUR (€)
Disclosure of changes in accounting estimates [line items]
Deferred income		€ 94,000
Share-based payment	€ 9,709,000	7,321,000	€ 1,713,000
Impairment loss	0	0
Goodwill	€ 3,495,000	€ 3,495,000
Warrants [member]
Disclosure of changes in accounting estimates [line items]
Description of vesting requirements	Up to 48 months
Number of tranches \| Tranche	48

Revenue - Summary of Segment Revenue (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of operating segments [line items]
Revenue from the rendering of services	€ 1,530	€ 1,628	€ 3,192
License income		2,978	4,926
Total revenue	1,530	4,606	8,118
Revenue from external customers (geographical)
Total revenue	1,530	4,606	8,118
Total revenue	1,530	4,606	8,118
USA [member]
Disclosure of operating segments [line items]
Total revenue	1,530	4,606	7,350
Revenue from external customers (geographical)
Total revenue	1,530	4,606	7,350
Total revenue	€ 1,530	€ 4,606	7,350
Germany [member]
Disclosure of operating segments [line items]
Total revenue			487
Revenue from external customers (geographical)
Total revenue			487
Total revenue			487
Switzerland [member]
Disclosure of operating segments [line items]
Total revenue			281
Revenue from external customers (geographical)
Total revenue			281
Total revenue			€ 281

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 28
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_28_a&doctype=Standard
-URIDate 2017-03-09

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 23
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_23_a&doctype=Standard
-URIDate 2017-03-09

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 32
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_32&doctype=Standard
-URIDate 2017-03-09

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 33
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_33_a&doctype=Standard
-URIDate 2017-03-09

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 34
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_34&doctype=Standard
-URIDate 2017-03-09

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2017-01-01
-Paragraph 82
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_82_a&doctype=Standard
-URIDate 2017-03-09

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2017-01-01
-Paragraph 103
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_103&doctype=Standard
-URIDate 2017-03-09

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Note Expiry date 2018-01-01
-Name IAS
-Number 18
-IssueDate 2017-01-01
-Paragraph 35
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=18&date=2017-03-02&anchor=para_35_b&doctype=Standard&book=B
-URIDate 2017-03-09

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2017-01-01
-Paragraph 102
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_102&doctype=Standard
-URIDate 2017-03-09

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2017-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2017-03-01&anchor=para_B12_b_v&doctype=Appendix&seq=2
-URIDate 2017-03-09

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2017-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2017-03-01&anchor=para_B10_b&doctype=Appendix&seq=2
-URIDate 2017-03-09

+ Details

Segment Information - Additional Information (Detail) € in Thousands	12 Months Ended
	Dec. 31, 2017 EUR (€) Customer Segment	Dec. 31, 2016 EUR (€) Customer	Dec. 31, 2015 EUR (€) Customer
Disclosure of operating segments [line items]
Number of reportable segment \| Segment	1
Revenue	€ 1,530	€ 4,606	€ 8,118
Customer one [member]
Disclosure of operating segments [line items]
Number of customers \| Customer	1	1	1
Revenue	€ 1,500	€ 4,600	€ 7,400
Percentage Of entity revenue	100.00%	100.00%	91.00%

- Definition

+ References

+ Details

Staff Cost - Summary of Staffing Cost (Detail) € in Thousands	12 Months Ended
	Dec. 31, 2017 EUR (€) Employee	Dec. 31, 2016 EUR (€) Employee	Dec. 31, 2015 EUR (€) Employee
Disclosure of employee compensation costs [line items]
Wages and salaries	€ 19,918	€ 15,288	€ 9,211
Share-based payment	9,709	7,321	1,713
Pension costs	324	49	42
Social security costs	1,156	913	697
Total costs	€ 31,107	€ 23,571	€ 11,663
Average number of employees \| Employee	121	92	63
Key management personnel of entity or parent [member]
Disclosure of employee compensation costs [line items]
Wages and salaries	€ 1,731	€ 1,449	€ 1,397
Share-based payment	3,576	2,548	508
Social security costs	70	72	74
Total costs	€ 5,377	€ 4,069	€ 1,979

Staff Cost - Summary of Staff Costs Recognized in the Statement of Profit and Loss (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of employee compensation costs [line items]
Total costs	€ 31,107	€ 23,571	€ 11,663
Research and development expenses [member]
Disclosure of employee compensation costs [line items]
Total costs	21,845	15,829	7,199
General and administrative expense [member]
Disclosure of employee compensation costs [line items]
Total costs	€ 9,262	€ 7,742	€ 4,464

Staff Cost - Warrant Activity - Additional Information (Detail)		12 Months Ended
	Dec. 31, 2017 EUR (€) shares	Dec. 31, 2017 EUR (€) shares	Dec. 31, 2016 EUR (€)	Dec. 31, 2015 EUR (€)	Dec. 31, 2014 EUR (€)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of other equity instruments outstanding in share-based payment arrangement	4,621,154	4,621,154	3,691,765	2,615,903
Minimum percentage of share capital for equity transactions		50.00%
Ratio of issuance of bonus shares	3	3
Percentage payment of dividends in excess of equity		10.00%
Warrant adjustment ratio based on bonus share issuance	3	3
Warrant exercise price adjustment ratio based on bonus share issuance	3	3
Weighted average exercise price of other equity instruments outstanding in share-based payment arrangement	€ 17.62	€ 17.62	€ 13.05	€ 10.69
Number of other equity instruments vested in share-based payment arrangement	2,034,791	2,034,791	1,439,066	864,623
Weighted average exercise price of other equity instruments vested in share-based payment arrangement	€ 11.48	€ 11.48	€ 9.36	€ 7.74
Dividend payables	€ 0	€ 0
Weighted average remaining contractual life of outstanding other equity instruments		112	109
Bottom of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average remaining contractual life of outstanding other equity instruments				102
Top of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average remaining contractual life of outstanding other equity instruments				103
Warrants [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Aggregate number of other equity instruments granted	6,440,812
Aggregate number of other equity instruments cancelled \| shares	19,580	19,580
Aggregate number of other equity instruments exercised	1,600,845
Aggregate number of other equity instruments expired	2,168
Aggregate number of other equity instruments forfeited	197,065
Number of other equity instruments authorized	1,578,592	1,578,592
Vesting description		Up to 48 months
Number of other equity instruments outstanding in share-based payment arrangement	4,621,154	4,621,154	3,691,765	2,615,903	2,999,824
Weighted average exercise price of other equity instruments outstanding in share-based payment arrangement	€ 17.62	€ 17.62	€ 13.05	€ 10.69	€ 5.70
Number of other equity instruments vested in share-based payment arrangement	2,034,791	2,034,791	1,439,066	864,623
Weighted average exercise price of other equity instruments vested in share-based payment arrangement	€ 11.48	€ 11.48	€ 9.36	€ 7.74
Description of warrant compensation		Warrant compensation costs are determined with basis in the grant date fair value of the warrants granted and recognized over the vesting period. Fair value of the warrants is calculated at the grant dates by use of the Black-Scholes Option Pricing model with the following assumptions: (1) an exercise price equal to or above the estimated market price of our shares at the date of grant; (2) an expected lifetime of the warrants determined as a weighted average of the time from grant date to date of becoming exercisable and from grant date to expiry of the warrants; (3) a risk free interest rate equaling the effective interest rate on a Danish government bond with the same lifetime as the warrants; (4) no payment of dividends; and (5) a volatility for comparable companies for a historic period equaling the expected lifetime of the warrants. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the warrants is indicative of future trends. The expected volatility has been calculated using a simple average of daily historical data of comparable publicly traded companies, as we do not have sufficient data for the volatility of our own share price.
Aggregate fair value of outstanding warrants	111,900,000	€ 111,900,000	€ 49,400,000
Warrants [member] \| Bottom of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	6.48	6.48
Warrants [member] \| Top of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	€ 31.60	€ 31.60
Warrants issued from 2008 to 2012 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting description		Warrants issued during the period from 2008 to 2012 generally vested over 36 months with 1/36 of the warrants vesting per month from the date of grant.
Vesting period		36 months
Warrants issued from 2008 to 2012 [member] \| Bottom of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period		24 months
Warrants issued after December 2012 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting description		Effective from and after December 2012, warrants granted generally vest over 48 months with 1/48 of the warrants vesting per month from the date of grant.
Vesting period		48 months
Warrants issued after December 2016 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting description		Effective from and after December 2016, certain warrants issued to board members vest over 24 months with 1/24 of the warrants vesting per month from the date of grant.
Vesting period		24 months
Outstanding warrants granted in connection with publishing annual or interim report [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of annual excercised period		2
Warrant outstanding	817,360	817,360
Warrant excercised period		21 days
Outstanding warrants granted in connection with preference D financing [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of annual excercised period		4
Warrant excercised period		21 days
Number of other equity instruments outstanding in share-based payment arrangement	476,657	476,657
Warrants granted after December 18, 2015 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of annual excercised period		4
Number of other equity instruments outstanding in share-based payment arrangement	3,327,137	3,327,137

Staff Cost - Schedule of Warrant Activity (Detail)	12 Months Ended
Staff Cost - Schedule of Warrant Activity (Detail)	Dec. 31, 2017 EUR (€)	Dec. 31, 2016 EUR (€)	Dec. 31, 2015 EUR (€)
Disclosure Of Warrant Activity [Line Items]
Beginning balance	3,691,765	2,615,903
Ending balance	4,621,154	3,691,765	2,615,903
Beginning balance	€ 13.05	€ 10.69
Vested at the balance sheet date	2,034,791	1,439,066	864,623
Ending balance	€ 17.62	€ 13.05	€ 10.69
Vested at the balance sheet date	€ 11.48	€ 9.36	€ 7.74
Warrants [member]
Disclosure Of Warrant Activity [Line Items]
Beginning balance	3,691,765	2,615,903	2,999,824
Granted during the year	1,196,000	1,202,500	1,022,908
Exercised during the year	(193,171)	(115,212)	(1,292,462)
Forfeited during the year	(73,440)	(11,426)	(112,199)
Expired during the year			(2,168)
Ending balance	4,621,154	3,691,765	2,615,903
Beginning balance	€ 13.05	€ 10.69	€ 5.70
Vested at the balance sheet date	2,034,791	1,439,066	864,623
Granted during the year	€ 30.15	€ 17.69	€ 15.68
Exercised during the year	8.49	7.63	3.34
Forfeited during the year	16.42	13.88	7.65
Expired during the year			3.06
Ending balance	17.62	13.05	10.69
Vested at the balance sheet date	€ 11.48	€ 9.36	€ 7.74

Staff Cost - Summary of Fair Values for Warrant Grants (Detail) - Warrants [member]	12 Months Ended
	Dec. 31, 2017 EUR (€) € / shares	Dec. 31, 2016 EUR (€) € / shares	Dec. 31, 2015 EUR (€) € / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price \| €	€ 30.15	€ 17.69	€ 15.67
Bottom of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	54.00%	57.00%	61.00%
Risk-free interest rate	(0.34%)	(0.32%)	0.25%
Expected life of warrants (years)	5.05	5.05	5.05
Fair value of warrants granted in the year	€ 9.65	€ 5.78	€ 8.02
Top of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	60.00%	60.00%	63.00%
Risk-free interest rate	0.25%	0.30%	0.45%
Expected life of warrants (years)	7.10	7.13	7.05
Fair value of warrants granted in the year	€ 17.29	€ 11.07	€ 9.45

Staff Cost - Summary of Warrant Compensation Cost (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total warrant compensation costs	€ 9,709	€ 7,321	€ 1,713
Warrants [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total warrant compensation costs	9,709	7,321	1,713
Research and development cost [member] \| Warrants [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total warrant compensation costs	4,775	3,722	718
General and administrative expense [member] \| Warrants [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total warrant compensation costs	€ 4,934	€ 3,599	€ 995

Staff Cost - Schedule of Weighted Average Exercise Price and Weighted Average Life of Outstanding Warrants (Detail)	12 Months Ended
	Dec. 31, 2017 EUR (€)	Dec. 31, 2016 EUR (€)	Dec. 31, 2015 EUR (€)
Disclosure of range of exercise prices of outstanding share options [line items]
Number of warrants	4,621,154	3,691,765	2,615,903
Number of warrants	2,034,791	1,439,066	864,623
Weighted average exercise price	€ 17.62	€ 13.05	€ 10.69
Weighted average exercise price	€ 11.48	€ 9.36	€ 7.74
Weighted average life	112	109
Granted in December 2012 [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Year of grant	2012	2012	2012
Number of warrants	609,383	645,655	665,188
Weighted average exercise price	€ 8.00	€ 8.00	€ 8.00
Granted in March, June, September and December 2013 [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Year of grant	2013	2013	2013
Number of warrants	91,681	128,848	137,349
Weighted average exercise price	€ 8.00	€ 8.00	€ 8.00
Granted in January, March, June and November 2014 [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Year of grant	2014	2014	2014
Number of warrants	592,953	700,614	790,458
Weighted average exercise price	€ 6.78	€ 6.89	€ 7.04
Granted in December 2015 [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Year of grant	2015	2015	2015
Number of warrants	963,658	1,016,596	1,022,908
Weighted average exercise price	€ 15.68	€ 15.68	€ 15.68
Granted in March, May, June, July, August, November and December 2016 [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Year of grant	2016	2016
Number of warrants	1,167,479	1,200,052
Weighted average exercise price	€ 17.67	€ 17.70
Weighted average life	120	120
Granted in January February March April May June July August September October November and December [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Year of grant	2017
Number of warrants	1,196,000
Weighted average exercise price	€ 30.15
Weighted average life	120
Bottom of range [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Weighted average life			102
Bottom of range [member] \| Granted in December 2012 [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Weighted average life	91	91	91
Bottom of range [member] \| Granted in March, June, September and December 2013 [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Weighted average life	91	91	91
Bottom of range [member] \| Granted in January, March, June and November 2014 [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Weighted average life	92	92	92
Bottom of range [member] \| Granted in December 2015 [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Weighted average life	119	119	119
Top of range [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Weighted average life			103
Top of range [member] \| Granted in December 2012 [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Weighted average life	92	92	92
Top of range [member] \| Granted in March, June, September and December 2013 [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Weighted average life	92	92	92
Top of range [member] \| Granted in January, March, June and November 2014 [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Weighted average life	93	93	93
Top of range [member] \| Granted in December 2015 [member]
Disclosure of range of exercise prices of outstanding share options [line items]
Weighted average life	120	120	120

Finance Income and Finance Expenses - Schedule of Finance Income and Finance Expenses (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Finance income expense [abstract]
Interest income	€ 923	€ 123	€ 13
Exchange rate gains		7,177	11,035
Total finance income	923	7,300	11,048
Interest expense	(97)	(5)	(6)
Exchange rate losses	(13,659)	(3,107)	(2,791)
Total finance expenses	€ (13,756)	€ (3,112)	€ (2,797)

Tax on Profit/Loss for the Year and Deferred Tax - Summary of Tax on Profit/Loss and Deferred Tax (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Tax on profit/(loss) for the year:
Current tax	€ (477)	€ (227)	€ (652)
Current tax expense (income) and adjustments for current tax of prior periods	(477)	(227)	(652)
Tax for the year can be explained as follows:
Profit/(loss) before tax	(124,374)	(68,732)	(33,574)
Tax at the Danish corporation tax rate of 22%	(27,362)	(15,121)	(7,890)
Tax effect of:
Non-deductible costs	1,553	1,153	359
Additional tax deductions	(356)	(65)	(703)
Tax credits	1,028	740	787
Other effects	(598)	(266)	(330)
Change in unrecognized deferred tax assets	25,258	13,332	7,125
Tax on profit/(loss) for the year	(477)	(227)	(652)
Unrecognized deferred tax asset:
Tax deductible losses	(52,084)	(27,188)	(13,404)
Deferred income	(86)	(144)	(725)
Other temporary differences	(545)	(124)	5
Unrecognized deferred tax asset	€ (52,715)	€ (27,456)	€ (14,124)

Tax on Profit/Loss for the Year and Deferred Tax - Summary of Tax on Profit/Loss and Deferred Tax (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Major components of tax expense (income) [abstract]
Applicable tax rate	22.00%	22.00%	22.00%

Tax on Profit/Loss for the Year and Deferred Tax - Additional Information (Detail) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Major components of tax expense (income) [abstract]
Income taxes refund	€ 0.7	€ 0.7

Intangible Assets - Summary of Goodwill (Detail) - EUR (€)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about intangible assets [line items]
Goodwill	€ 3,495,000	€ 3,495,000
Goodwill at beginning period	3,495,000
Impairment charge	0	0
Goodwill at ending period	3,495,000	3,495,000
Gross carrying amount [member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	3,495,000	3,495,000
Goodwill at beginning period	3,495,000	3,495,000
Additions	0	0
Goodwill at ending period	3,495,000	3,495,000
Accumulated impairment [member]
Disclosure of detailed information about intangible assets [line items]
Impairment charge	€ 0	€ 0

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	€ 2,350	€ 2,350
Property, plant and equipment at beginning period	2,350
Depreciation charge	(734)	(677)	€ (558)
Property, plant and equipment at ending period	2,557	2,350
Research and development cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation charge	(701)	(645)	(550)
General and administrative expense [member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation charge	(33)	(32)	(8)
Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	6,081	5,494	5,494
Property, plant and equipment at beginning period	6,081	5,494
Additions	941	672
Disposals	(224)	(85)
Property, plant and equipment at ending period	6,798	6,081	5,494
Accumulated depreciation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(3,731)	(3,139)	(3,139)
Property, plant and equipment at beginning period	(3,731)	(3,139)
Depreciation charge	(734)	(677)
Disposals	224	85
Property, plant and equipment at ending period	(4,241)	(3,731)	(3,139)
Plant and machinery [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	1,291	1,291
Property, plant and equipment at beginning period	1,291
Property, plant and equipment at ending period	1,453	1,291
Plant and machinery [member] \| Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	3,967	3,693	3,693
Property, plant and equipment at beginning period	3,967	3,693
Additions	540	274
Property, plant and equipment at ending period	4,507	3,967	3,693
Plant and machinery [member] \| Accumulated depreciation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(2,676)	(2,284)	(2,284)
Property, plant and equipment at beginning period	(2,676)	(2,284)
Depreciation charge	(378)	(392)
Property, plant and equipment at ending period	(3,054)	(2,676)	(2,284)
Other equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	708	708
Property, plant and equipment at beginning period	708
Property, plant and equipment at ending period	787	708
Other equipment [member] \| Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	1,494	1,227	1,227
Property, plant and equipment at beginning period	1,494	1,227
Additions	371	352
Disposals	(224)	(85)
Property, plant and equipment at ending period	1,641	1,494	1,227
Other equipment [member] \| Accumulated depreciation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(786)	(646)	(646)
Property, plant and equipment at beginning period	(786)	(646)
Depreciation charge	(292)	(225)
Disposals	224	85
Property, plant and equipment at ending period	(854)	(786)	(646)
Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	351	351
Property, plant and equipment at beginning period	351
Property, plant and equipment at ending period	317	351
Leasehold improvements [member] \| Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	620	574	574
Property, plant and equipment at beginning period	620	574
Additions	30	46
Property, plant and equipment at ending period	650	620	574
Leasehold improvements [member] \| Accumulated depreciation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(269)	(209)	(209)
Property, plant and equipment at beginning period	(269)	(209)
Depreciation charge	(64)	(60)
Property, plant and equipment at ending period	€ (333)	€ (269)	€ (209)

Investments in Group Enterprises - Summary of Investments in Group Enterprises (Detail)	12 Months Ended
	Dec. 31, 2017
Ascendis Pharma GmbH [member]
Disclosure of subsidiaries [line items]
Company	Ascendis Pharma GmbH
Domicile	Germany
Ownership	100.00%
Ascendis Pharma, Inc [member]
Disclosure of subsidiaries [line items]
Company	Ascendis Pharma, Inc.
Domicile	USA
Ownership	100.00%
Ascendis Pharma Ophthalmology Division A/S [member]
Disclosure of subsidiaries [line items]
Company	Ascendis Pharma Ophthalmology Division A/S
Domicile	Denmark
Ownership	100.00%
Ascendis Pharma Endocrinology Division A/S [member]
Disclosure of subsidiaries [line items]
Company	Ascendis Pharma Endocrinology Division A/S
Domicile	Denmark
Ownership	100.00%
Ascendis Pharma Bone Diseases A/S [member]
Disclosure of subsidiaries [line items]
Company	Ascendis Pharma Bone Diseases A/S
Domicile	Denmark
Ownership	100.00%
Ascendis Pharma Growth Disorders A/S [member]
Disclosure of subsidiaries [line items]
Company	Ascendis Pharma Growth Disorders A/S
Domicile	Denmark
Ownership	100.00%

Share Capital - Additional Information (Detail) - kr / shares	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Disclosure of classes of share capital [abstract]
Number of shares issued	36,984,292	32,421,121	25,128,242	16,935,780	10,801,948	10,801,948
Share nominal value	kr 1

Share Capital - Summary of Number of Shares (Detail) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure of classes of share capital [abstract]
Share capital beginning of year	32,421,121	25,128,242	16,935,780	10,801,948	10,801,948
Increase through cash contribution	4,563,171	7,292,879	8,192,462	6,133,832	0
Share capital end of year	36,984,292	32,421,121	25,128,242	16,935,780	10,801,948

Commitments and Contingencies - Summary of Lease Commitment under Operating Leases (Detail) - EUR (€) € in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of commitments and contingencies [line items]
Operating lease commitments	€ 19,393	€ 6,345
Within 1 year [member]
Disclosure of commitments and contingencies [line items]
Operating lease commitments	2,951	1,608
Within 1 to 5 years [member]
Disclosure of commitments and contingencies [line items]
Operating lease commitments	12,485	4,309
After 5 years [member]
Disclosure of commitments and contingencies [line items]
Operating lease commitments	€ 3,957	€ 428

Commitments and Contingencies - Additional Information (Detail) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Capital commitments [abstract]
Total expenses under operating leases	€ 1.6	€ 1.5	€ 0.9

Financial Risk Management and Financial Instruments - Schedule of Net Carrying Amounts of Monetary Assets And Liabilities Split on Currencies (Detail) - EUR (€) € in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about financial instruments [line items]
Net Carrying Amounts	€ 181,160	€ 170,862
Danish Kroner (DKK) [member]
Disclosure of detailed information about financial instruments [line items]
Net Carrying Amounts	2,789	404
US Dollars (USD) [member]
Disclosure of detailed information about financial instruments [line items]
Net Carrying Amounts	183,362	118,741
Euro (EUR) [member]
Disclosure of detailed information about financial instruments [line items]
Net Carrying Amounts	(3,767)	52,591
British Pounds (GBP) [member]
Disclosure of detailed information about financial instruments [line items]
Net Carrying Amounts	1,163	839
Other [member]
Disclosure of detailed information about financial instruments [line items]
Net Carrying Amounts	€ (2,387)	€ (1,713)

Financial Risk Management and Financial Instruments - Additional Information (Detail)	Dec. 31, 2017 EUR (€)
Disclosure of detailed information about financial instruments [line items]
Increase Decrease In Foreign Currency Exchange Rate	10.00%
Provisions for doubtful accounts	€ 0
Danish Kroner (DKK) [member]
Disclosure of detailed information about financial instruments [line items]
Foreign currency target percentage	4.50%
US Dollars (USD) [member]
Disclosure of detailed information about financial instruments [line items]
Increase Decrease In Foreign Currency Exchange Rate	10.00%
British Pounds (GBP) [member]
Disclosure of detailed information about financial instruments [line items]
Increase Decrease In Foreign Currency Exchange Rate	10.00%
Ten percentage strengthening in foreign currency USD against EUR [member]
Disclosure of detailed information about financial instruments [line items]
Increase Decrease In Foreign Currency Exchange Rate	10.00%
Ten percentage strengthening in foreign currency GPB against EUR [member]
Disclosure of detailed information about financial instruments [line items]
Increase Decrease In Foreign Currency Exchange Rate	10.00%
Euro (EUR) [member]
Disclosure of detailed information about financial instruments [line items]
Increase Decrease In Foreign Currency Exchange Rate	10.00%

Financial Risk Management and Financial Instruments - Summary of Foreign Currency Sensitivity Analysis (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Ten percentage strengthening in foreign currency USD against EUR [member]
Disclosure of detailed information about financial instruments [line items]
Profit or loss before tax	€ 18,336	€ 11,874
Equity	18,336	11,874
Ten percentage strengthening in foreign currency GPB against EUR [member]
Disclosure of detailed information about financial instruments [line items]
Profit or loss before tax	116	84
Equity	€ 116	€ 84

Ownership - Additional Information (Detail)	12 Months Ended
Ownership - Additional Information (Detail)	Dec. 31, 2017
Disclosure of beneficial ownership [line items]
Minimum beneficial ownership percentage	5.00%
Description of nature of related party relationship	Persons, or groups of affiliated persons, are known by us to beneficially own more than 5% of our outstanding ordinary shares
Description of American depository shares	The Company's American Depository Shares are held through BNY (Nominees) Limited as nominee, of The Bank of New York Mellon, UK (as registered holder of the Company's outstanding ADSs).
Entities affiliated with RA capital management LLC [member] \| USA [member]
Disclosure of beneficial ownership [line items]
Minimum beneficial ownership	Entities affiliated with RA Capital Management, LLC, USA
Orbi med private investments VLP [member] \| USA [member]
Disclosure of beneficial ownership [line items]
Minimum beneficial ownership	OrbiMed Private Investments V, L.P., USA
Entities affiliated with FMR LLC [member] \| USA [member]
Disclosure of beneficial ownership [line items]
Minimum beneficial ownership	Entities affiliated with FMR LLC, USA
Baker Bros. advisors LP [member] \| USA [member]
Disclosure of beneficial ownership [line items]
Minimum beneficial ownership	Baker Bros. Advisors LP, USA
Sofinnova venture partners IXLP [member] \| USA [member]
Disclosure of beneficial ownership [line items]
Minimum beneficial ownership	Sofinnova Venture Partners IX, L.P., USA
Entities Affiliated With Vivo Capital [Member] \| USA [member]
Disclosure of beneficial ownership [line items]
Minimum beneficial ownership	Entities affiliated with Vivo Capital, USA
EcoR1 Capital, LLC [member] \| USA [member]
Disclosure of beneficial ownership [line items]
Minimum beneficial ownership	Entities affiliated with EcoR1 Capital, LLC, USA

Subsequent Events - Additional Information (Detail) - ADSs [member] - Major ordinary share transactions [member] $ / shares in Units, € in Millions, $ in Millions	Feb. 26, 2018 EUR (€) shares	Feb. 26, 2018 USD ($) shares	Feb. 21, 2018 $ / shares shares	Feb. 22, 2018 shares
Disclosure of non-adjusting events after reporting period [line items]
Number of shares, follow-on offering			3,947,368
Follow-on public offering price \| $ / shares			$ 57.00
Share purchase price per share follow on offering \| $ / shares			$ 53.58
Option to purchase additional number of fully paid shares follow-on offering				592,105
Underwriters right to purchase shares			30 days
Number of shares issued public offering	4,539,473	4,539,473
Proceeds from issuance of public offering	€ 196.8	$ 242.5
Top of range [member]
Disclosure of non-adjusting events after reporting period [line items]
Additional number of shares granted follow-on offering			592,105