By Stephen Nakrosis
Shares of Ascendis Pharma A/S trade higher in the after-hours market on Wednesday following news that the Food and Drug Administration has approved Skytrofa as a treatment for pediatric growth hormone deficiency.
The company said Skytrofa, or lonapegsomatropin-tcgd, is the first once-weekly treatment approved for the treatment of pediatric growth hormone deficiency.
“We are actively preparing for the commercial launch in the US of Skytrofa for the treatment of pediatric GHD, which is now the first FDA-approved weekly treatment for pediatric GHD,” said Jan Mikkelsen, the president and chief executive of the business.
At 5:55 p.m. EDT, the company’s shares were up 22.9% at $151.98. The volume at the time was 318,000 shares.
The stock ended the day’s regular trading session with a gain of 1.57% at $123.66.
After the bell Wednesday, Ascendis Pharma reported a second quarter loss per share of EUR 2.50 on sales of EUR 1.02 million. In the same period last year, the company had a loss per share of 1.97 euros on a turnover of 1.4 million euros.
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