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