Ascendis Pharma A/S (ASND) announced a transition from American Depositary Shares to a direct listing of its ordinary shares on the Nasdaq Global Select Market. The exchange will take effect at the opening of trading on April 20, 2026, with each existing ADS being converted into one ordinary share. The new shares will trade under the ticker “ASND” and will receive the CUSIP K08588103 and ISIN DK0060606333.
The last trading day for the company’s ADSs will be April 17, 2026, after which the ordinary shares will be the sole class of shares listed on Nasdaq. The conversion ratio of one-to-one simplifies the capital structure and eliminates the need for a separate depositary share listing.
Ascendis’ decision follows recent milestones that have positioned the company for broader investor access. The U.S. FDA approved and launched YUVIWEL® (navepegritide) for achondroplasia, and the company reported positive data from the COACH trial of its TransCon® hGH platform. These developments underscore the company’s growth trajectory and support the rationale for a direct listing to enhance liquidity and facilitate potential index inclusion.
Scott T. Smith, Chief Financial Officer, said, “As we transform into a leading global biopharma company, we believe a direct listing of our ordinary shares will broaden access to global investment in Ascendis. In addition, we believe a direct listing may also facilitate inclusion in certain equity indexes, which could result in further enhanced institutional ownership and trading liquidity for ASND shares.”
The direct listing is expected to improve trading efficiency and attract institutional investors by providing a single, straightforward share class. By aligning its listing structure with the Nasdaq Global Select Market, Ascendis positions itself for greater visibility among index constituents and a more liquid market for its shares, which may support future capital‑raising and strategic initiatives.
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