Research and development (R&D) costs for the fourth quarter were 90.9 million compared to
108.6 million during the same period in 2022. The decrease was tied to lower external development costs for TransCon hGH and Oncology programs. R&D costs for 2023 were 413.5 million compared to 379.6 million in
2022. The higher R&D costs in 2023 reflect an increase in TransCon CNP, Oncology and Ophthalmology program development activities and an increase in employee related costs attributable to organizational growth, partially offset by lower TransCon
hGH program development costs.
Selling, general, and administrative (SG&A) expenses for the fourth quarter were 64.0 million compared to
56.6 million during the same period in 2022. This increase was primarily due to higher employee related expenses attributable to organizational growth. SG&A expenses for 2023 were 264.4 million compared to
221.2 million in 2022. Higher SG&A expenses were primarily due to organizational growth including commercial personnel to support existing SKYTROFA sales in the U.S. and Germany, and in preparation for future product launches.
Total operating expenses for the fourth quarter were 154.9 million compared to 165.2 million during the same period in 2022. Total
operating expenses for 2023 were 677.9 million compared to 600.9 million in 2022.
Net finance expenses were 41.6 million
in the fourth quarter compared to 46.7 million in the same period in 2022. Net finance expenses were 0.2 million in 2023 compared to a net finance income of 1.7 million in 2022.
For the fourth quarter of 2023, Ascendis Pharma reported a net loss of 86.9 million, or 1.54 per share (basic and diluted) compared to a net
loss of 207.4 million, or 3.71 per share (basic and diluted) for the same period in 2022. For the full year 2023, Ascendis Pharma reported a net loss of 481.4 million, or 8.55 per share (basic and diluted) compared
to a net loss of 583.2 million, or 10.40 per share (basic and diluted) in 2022.
As of December 31, 2023, Ascendis Pharma had cash,
cash equivalents, and marketable securities totaling 399.4 million compared to 742.9 million as of December 31, 2022. As of December 31, 2023, Ascendis Pharma had 57,707,439 ordinary shares outstanding, including
1,093,054 ordinary shares represented by ADSs held by the company.
Conference Call and Webcast Information
Ascendis Pharma will also host a conference call and webcast today at 4:30 p.m. Eastern Time (ET) to discuss 2023 financial results.
Those who would like to participate may access the live webcast here, or register in advance for the teleconference here. The link to the live
webcast will also be available on the Investors & News section of the Ascendis Pharma website at https://investors.ascendispharma.com. A replay of the webcast will be available on this section of the Ascendis Pharma website shortly
after conclusion of the event for 30 days.
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