Investing.com -- Shares of Ascendis Pharma (NASDAQ:ASND) fell 1% after the company provided its full-year guidance for Skytrofa revenue, which fell short of the average analyst expectations.
During the 43rd Annual JPMorgan (NYSE:JPM) Healthcare Conference on January 13, Ascendis Pharma's CEO Jan Mikkelsen unveiled the company's forecast for Skytrofa, its growth hormone deficiency treatment. The company now expects Skytrofa revenue to reach approximately €202 million for the year, a slight increase from their previous range of €200 million to €220 million.
However, this updated guidance did not meet the Bloomberg consensus estimate of €215.7 million, prompting a negative response from the market.
The updated forecast for Skytrofa is exclusive of sales deductions related to prior years. In addition to the Skytrofa revenue, Ascendis Pharma provided a preliminary estimate for the total full-year revenue for 2024, which is expected to be around €364 million.
This figure includes a significant non-product revenue component, specifically a $100 million milestone payment from Novo Nordisk (NYSE:NVO).
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