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Will Ascendis Pharma's stock price surpass $200 by December 31, 2024?
4
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Story
Ascendis Pharma's TransCon CNP Achieves Primary Objective in ApproaCH Trial, Stock Surges 19.9%
Sep 16, 2024, 12:02 PM
Ascendis Pharma (ASND) announced that its pivotal ApproaCH Trial of TransCon™ CNP (Navepegritide) achieved its primary objective, demonstrating a superior annual growth velocity (AGV) compared to placebo. The trial showed a least squares mean treatment difference of 1.49 cm/year at Week 52, with children aged 5-11 years showing a change from baseline AGV superior to placebo with a least squares mean treatment difference of 1.78 cm/year at Week 52. Following the announcement, Ascendis Pharma's stock surged by 19.9% in pre-market trading. This development poses a competitive challenge to Biomarin's Voxzogo, which was previously considered superior. Ascendis Pharma's stock was up +17% in pre-market trading, while Biomarin's stock dropped by 15%. The trial was double-blind and placebo-controlled.
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