Ascendis Pharma A/S (NASDAQ:ASND) Q3 2023 Earnings Call Transcript

Jan Mikkelsen: Related to the GPL-1, we are in a great space. We came out with the data provided the interest that people could see the value in it both as an improved one weekly treatment, but also on a once month is treating for this important segment going up. And we basically continue the dialogue with companies that interested in [indiscernible].

Operator: The next question comes from Li Watsek with Cantor Fitzgerald.

Li Watsek: Just first one, we’ve seen daily products continue to retreat and reduce output in Q3. Can you just talk about how much of a tailwind has been for SKYTROFA and where do you see that trend to track in the coming quarters?

Jan Mikkelsen: The question you are addressing, what is really happening in the growth hormone market? And I think what we are seeing is the results of the consolidation that we had predicted, had expected to happen and that is basically what you see in the marketplace today. Four years ago, when we came up with our Phase II data and we didn’t out licensing our TransCon growth hormone, a lot of this established player basically said, okay, let us find out how we can milk this here in the best possible way. And you don’t milk by investing in production capacity. You don’t really get the highest property to investing in anything. So this is why you are seeing a daily growth hormone market. Basic only have three players left now with a sales force, infrastructure and other things like that.

So instead of having a six player, you are down to three player and likely there will be a fewer player in the coming year when really the real consolidation will happen. So some way, you are saying is that it is the shortest, but the shortage is also indicated in the way that the consolidation of the market promoted of it, because in the old days with many more company really could provide more capacity and other things, there will not have been a shortage. It is not changing the fact why SKYTROFA is the leading company, leading brand in value is because we are providing best-in-class purposes and it is getting realized by physician, by caregivers, by patient and I hope and we know that also by the reimbursement system.

Li Watsek: And then maybe just a question on TransCon IL-2. You show some pretty nice data in small cell lung cancer. So is there any plan to that is indication to our expansion cohort?

Jan Mikkelsen: That’s a great question Li. Yes, we were very encouraged by our initial signal in small cell lung cancer and we are exploring adding additional indication cohort in lung cancer to our, both extension cohort.

Operator: The next question comes from Leland Gershell with Oppenheimer.

Leland Gershell: Just wanted to ask further on the plans to for TransCon CNP for benefit outside of high velocity in terms of other comorbidities. Wondering, that if you could just maybe go into, maybe beyond muscle? Are there other measures or endpoints that you are contemplating to include in upcoming studies?

Jan Mikkelsen: We are exploring a lot of different elements. We want, I would like to group it a little bit. One is the patient reported outcome where you have both our own developed way to look at it. You have established one as a 10 and other way that really are catching how you potentially have a physical benefit of this treatment or not. So this is one what we call the patient reported outcome. The other one we are looking for is dedicated co-morbidities. Are there a clear pattern where we see less co-morbidity over a year period because you need to go through some season to be quite sure you picking up what kind of element of coal or other thing could influence it. The other one is more hardcore element where we basically have a lot of x-rays of could patient, are they really changing the scoliosis, are they changing other elements and we are looking on all different kinds of bone development and other things like that.