Ascendis Pharma A/S (ASND) 3 Sep 242024 Q2 Earnings call transcript

Hello. Thank you for standing by. Welcome to Ascendis Pharma's Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. Instructions]. [Operator

like of call Pharma. Investor may now Lee, to Sir, turn begin. Director Senior Relations to would over the Tim you I at Ascendis

Quarter everyone, operator, Relations for apologize at Director, here. due issues joining thank I'm you, technical delay Results you, Ascendis some we Thank our Call. Pharma. and the Second Investor that XXXX to We Tim Financial Conference Senior for had Lee,

Executive the call Vice Executive today are President Manager. President Officer; Mikkelsen, Financial Chief Commercial Smith, of President Clinical Executive on Jan Officer; Development Camilla and Dr. Scott General Vice Executive Officer; Oncology; Global me ], President Vice Head Singel, Chief Chief Joe and and [ U.S. Joining Stina Hartvig and Harder and Kelly,

to therapeutic market in timing results of the opportunities potential regarding with outside our including pipeline our our regulatory and progress rare limited Securities that and will you planned begin, Reform Before our strategic our in of this are to like and Private [ may we forward-looking the the Act. to timing regarding contain safe U.S. be I'd goals for the the our and statements expectations candidates YORVIPATH Litigation as call the by continued Examples their and exploration intended regarding filings expectations, markets ongoing our and of of and covered and our that certain expectations regulatory statements such are provided pipeline, conference European of decisions commercialization disease. include, as harbor to remind development SKYTROFA commercialization well plans, respect statements continued of clinical financial areas clinsults endocrinology ], not but

assume actual today. by reliance forward-looking not information those to these update law. may We that our results change, from no in could these are Actual differ statements, as -- is differ on statements of should place and available These required could undue statements may circumstances as obligation materially and differ to results differ and as statements. based us on you except

information materially forward-looking factors the section recent release can February additional section actual with concerning see the our Form press in filed to in report XX-F today's annual X, cause most our on differ of For statements that Risk SEC the results XXXX. on Factors please

Products for U.S. treatment TransCon MAA and Growth is received the in for FDA the authorization please Kingdom's Commission has Commission for adults European TransCon approved and treatment marketing Regulatory the Hormone the approved chronic is in note by from product with for deficiency. PTH European of not the hGH, and are of hypoparathyroidism TransCon our Medicines that hypoparathyroidism. investigational granted Otherwise, authorization adults treatment and approved candidates the therapy the use. a as the EU replacement indicated the United growth Healthcare TransCon U.S. of commercial the for by hormone Agency for PTH FDA pediatric and has

candidates shall As regulatory product as the investigational or statements conference candidates be not safety any reviewed and viewed of approved by during have call regarding this the of product agency. effectiveness been None products, our promotional.

XXXX our call the financial second today, we'll updates. we'll quarter discuss business further and On provide results

then prepared questions. the for some up we open remarks, Following call will

me Jan. over turn let that, it With to

afternoon, Tim. Thanks, Good everyone.

YORVIPATH as and U.S. FDA-approved in of recent the treatment adults. only hypoparathyroidism of With approval the first the

rare coming in our disease in X from data the And the with major obtained achondroplasia product successfully U.S. EU. candidate out product candidate, in and markets, for of approval weeks. has expected Ascendis TransCon X endocrinology X third CNP pivotal

achieve our nearing vision are We XXXX. of all end product X approval candidates to of the by

a attempt focus. new through to differentiated to metabolic scientific best-in-class [indiscernible] And for us higher faster to disease on our product to disease. to candidates cardiovascular globe with and TransCon clinical CT our development. new strong bring rate continue make based across [ product as for candidates difference compared product with in a and potential success ], algorithm We technology therapeutic of Our areas such with the develop meaningful enabled last highly oncology, innovation development patients combined endocrine traditional the have drug

Let us [ XXX, patients begin alone, XX, living XXX In with YORVIPATH. U.S. ] an the are hypoparathyroidism. with estimated

disease. those of the associated in-depth take FDA Please the who having the For watch serious an arranged on hypoparathyroidism haven't consequence to understanding providing seen time it. website, patient of hearing this

FDA the having adult forward in look United to patients of approval can With hypo. and now the for treatment treatment States physician of a YORVIPATH, option

expertise. levering the our preparing U.S., and [indiscernible] are for infrastructure established commercial We YORVIPATH in

sales We of team treat XX% patients U.S. are around person the in with engage X,XXX with would dedicated who expanding would medical -- hypopara XX,XXX of our reps field and physician

launch initiatives underway. rollout key patient to programs our YORVIPATH. are support of Including support to designed Other the access

as patient a eligible example, commercial the For month prescription. $X as little on will [indiscernible] pay YORVIPATH for

this following care also of program. patient assistant disease, addition, we goal take introduce will with In our a all patients to

also payers have PBMs U.S. We [ started and engaging ].

expect first to pricing, with product bed responsible possible. we price annual per value XXX,XXX availability patient the of We U.S. health care U.S. system. the premier of if launched or the will XXXX in it's Consisting YORVIPATH corresponding to soon, reflecting in a the quarter with

TransCon available. our we U.S., program. patients. Germany to treatment and in continues in YORVIPATH the and physician will increase, patients continues quarter loans clinical it's around the where PT access XXX than full mix about the of on of good active XXX the patients to as patients X markets. estimated in Physician to patients as commercial of the Australia, have sales there more new In prescribers menu more And prescribing now open-label We extension in Europe, and expanded momentum was and XXX of initiating [ build. and studies. soon number commercial these first product begin an are these over a see In ] XX currently This experience patients

currently and extremely around strong rate XX%. YORVIPATH is patients with [indiscernible]

therapy, remaining now supplies is loans than ]. patients under patients year. expect the prior countries programs finishing this serving more end NPA the including patients [ interest program XX more experience and in them we have for by of As physicians increasing. YORVIPATH, expect gain more The We to bring commercial of patient in those full at to the named more on

SKYTROFA. to Moving

the blockbuster than growth our for have are to the SKYTROFA leadership product We broader largely XX,XXX year, in as completed. well first A make that in was we while and the market SKYTROFA market. sheep of more half strategy value SKYTROFA or both for label. ave assess broadened patients patients for a overall assets market simplifying expanding our proud X-year treatment include component have U.S. first the In key expanding symptoms to the to to market a set of switch as hormone

long-term the demand first short While access term, half impacted revenue. will Scott our broader will negatively to it this details. support share net in SKYTROFA more

premium value our completed. now a positioned With Xx a of as product transition net with is SKYTROFA compared around to [indiscernible]. prepatient largely markets

We the in focused now growth are aiming drive assess and overall hormone on the to demand. using data are to market new expand covers U.S. to market further Continue SKYTROFA for alone. blockbuster our reach

quarter deficiency BLA to leadership position. FDA our in the of build third the this growth submit supplement and plan to on year. to market adult in hormone We Finally,

first SKYTROFA Our expansion. label

from data in II expect Syndrome line fourth the XXXX. of top in trial quarter Turnet Phase our also We

from now extremely and result Switching fewer much about our have program in we in excited as been achondroplasia, to TransCon more approaching weeks. CNP. coming I trial the our are always the

growth in We [indiscernible] achondroplasia. address with a have of our people that that X announced candidate aim past treatment since for is living and [indiscernible] consistent develop our linear both that the years we health over our quality affect and product to life

Earlier [ X.X this saw a of after vosoritide competitive increased ] about similar year, CNP centimeter trial. XX II TransCon our months sort result for accomplish that our once-weekly velocity treatment. to Demonstrating growth annualized you Phase

addition, TransCon favorable demonstrated life the function ] first-time a ] with AX In with with also side tolerability in the [ CNP of physical quality we effect to achondroplasia, and product profile. that associated [indiscernible] of for improved placebo, of Belvin achondroplasia compared [ setting in

we trial years, to in X.X data expecting trial. II approach Now these with with [indiscernible] are in similar quarter we X [indiscernible] [indiscernible]. we our patients earlier This enrolled line The X top XX to the few that replicate hope guided. more Phase pivotal trial, can weeks, our mean and age than results next

COD We CNP II to a show [ designed [indiscernible] to Growth adding trial TransCon enrolling with group combination also start TransCon up in Phase to provide SKYTROFA ] patients in cash of continue treatment late. who could TransCon that CNP CNP for

of trial the quarter during enrollment expect quarter data fourth XX with first the to second expected We top XXXX, in of line this XXXX. in combination complete

oncology. now Turning to

Agonist combination X/X X with different We TransCon best-in-class continue I a trials believe TransCon this potential are [ TransCon resistant the to IL-X and with TLR beta/gamma the present in in X cohort pleased multiple with plan Phase chemotherapy big scenarios. the combination tried study this to progressing. our indications I'm advancing candidates, month Barcelona. tuberine product of II our from at We conference results in in later how initial IL-X plasm program from ] ESMO beta/gamma cancer award

oncology the the all Descartova parents achondroplasia. the for our With With exploration has and program obesity. In show are living able transformative. expected that the We life market of from approval ongoing areas week closing, the people TransCon innovation transform our is parents also life about patients. [ It hear Patients that of changed goal to for CNP. both. in we children data Ascendis, us as in such we opportunity with U.S. of progress ] in it's is that our tell other of that of and next YORVIPATH

an TransCon candidate. for position with sustainable We expanded continue transformative Ascendis to pipeline growth and product

Scott it now update. financial I'll a turn for to over

in revenue XX% reset second of SKYTROFA as for An to was volume an the quarter deductions as quarter These of market to EUR in well alone. volume the million XXXX offset leader recorded adjustments of to year to in doubled year-over-year. Thanks, increase last market compared in access accruals periods XXXX, while XX.X and of a EUR support deduction decrease XX.X quarter SKYTROFA broader continued U.S. Jan. potential adjustment the a reported XXXX growth second XXXX. the higher QX in second SKYTROFA compared blockbuster than was for million and by reflect sales QX value the of as sales more

quarter reduced to million sales XXXX EUR was of revenue a first EUR XXXX to QX was and of million X.X which XX.X attributable the XX.X by total, true-up million, reported In sales XX.X a the XXXX XX% XX.X EUR prior compared SKYTROFA January in for increase period same the XXXX. during revenue to first half million year-over-year totaled of to X, XXXX. million, EUR EUR

First SKYTROFA by partially X, million, accrual was more volume which EUR XXXX. offset to but prior attributable to was X.X true-up an January half periods than doubled, XXXX of

growth QX of for believe grow GHD, treated. in will indication of end hormone lots XX% market patient We of With hormone a pediatric XXXX, the growth growth that the treated penetration was under or overall to for advent of SKYTROFA patients hormone market, little still continue further broader leaving U.S. our number market the of by estimate population room access, pediatric deficiency XX% we treated overall the and the growth market expansion. single with the

results we year-to-date XXX and XXXX million. in full revenue EUR EUR the to SKYTROFA on trends, range million Based current be to expect now XXX year of

Shifting PTH. to TransCon

X.X full Second first of patient and EUR as driven as the million markets quarter second with revenue Closing of in line, YORVIPATH million, services X.X for the revenue and to well Austria Germany million license was from of revenue continuing rendering the of XX revenue initial EUR YORVIPATH EUR demand. to growing commercial revenue. in increase the top X.X by tied other reflected QX, million EUR quarter quarter revenue including total in and physician

Iconas Total operating XXXX. due XXX quarter Turning second employee million. impact the for million quarter during of to of XXX.X from to to including the costs EUR XXX tied compared TransCon PTH Agonist of expenses commercial external decline EUR as primarily million XX.X of quarter, million quarter million the second expenses increase SG&A million in the quarter totaled XX.X operating was higher were sorry, Total during XX-- during for costs, was development [ decrease as in EUR expenses. compared The ] for the TLR second the XX.X million quarter expansion. XXX.X cost lower XXXX. the XX% global totaled first for The EUR XXXX. of EUR to the expenses half second costs EUR and EUR lower the XXXX X/X well XX% to compared the spin-off. second XXXX to R&D largely TransCon were

XX.X Net in finance quarter the EUR income was of year. million EUR to compared the million second last XX.X quarter in

We items as equivalents noncash securities part As million quarter-to-quarter and XXXX. EUR compared of December convertible finance reminder, XX, ended can cash, EUR our a to cash notes. net outstanding by the the XXX second fluctuate million related with XXX driven totaling marketable line to in quarter

and entered balance, included synthetic Finally, on if not December or XXX new that million sales funding to earlier the at announced into of to details fully United therefore, within payments exchange [indiscernible] The USD XXXX, separate subsequent a cash in filed price we are X% Pharma net in a royalty capped Further Royalty June agreement with royalty today, XXXX, today. in the capped reported XX, disclosed royalty and we have for a purchase XX, are X.XXx Xx the prior States. thereafter. paid YORVIPATH also for

million, to operating which R&D the plans, SKYTROFA range the based EUR activities on breakeven for we in be XXXX EUR we of be million. achieve expenses, in to operating And Total U.S., currently full to of or the XXX year expect XXXX. XXXX, including launch million SG&A in a current in quarterly pending include to launch cash flow related the timing ahead U.S. EUR Looking and approximately XXX expect basis YORVIPATH YORVIPATH revenue XXX on

weeks, with upcoming conferences. our pivotal I we able to will operator coming want and to unfortunately, reiterate trial expected line we Before plan for Thursday. for investor over a starting it the database period approach to And top be in in turn institute results log the quiet to participate not Q&A, the we

we With ready that, to are take operator, questions. now

JPMorgan. Jessica first the [Operator question Fye from Our line Instructions] comes with of

Growth the Can in based the you GHD bit? and alone on SKYTROFA to net in project created are reset about want price said getting blockbuster you how you penetration walk a what kind and of where that U.S. I through Hormone of of you to understand better terms the a market. in broader little

here will Thanks, me I X start, today. and colleagues my have with Jess. I commercial

have the more is remarks, Currently, look we So my we the when just preferred Growth market clearly, also SKYTROFA level details see the the when Hormone where in in we clearly, see a Even it's treatment. have basic prepared Xx net other When the about are some net in X.X patient, assets, are the see our the coming I we stated the same about really you U.S. even give segment preferred don't improvement see we desired. SKYTROFA we market SKYTROFA a if that as ] we product. effort USD is as in places of really Wittropher developing we in brand, can long-acting clearly, when look up entire that per products' about because And value on market assess, value really in the on billion, market yearly potential. places the we unique where avoiding compared [ to is

Adult Hormone not we Hormone Growth in our label be So effort, pediatric the for the when We we see address will coming filing basic next Growth for we possible us expansion year, weeks, this are deficiency to only in market. Deficiency.

will do data for trials later we basket in and a it Phase turn we very a can this We manner. fast, year, initiate II have in coming

keep get expand that So asset, we indications. the full That the U.S. hormone to we level gives market we the high we can can have you call value see different cohort develop from for SKYTROFA a we will the today basically of we with can the reset to all what blockbuster the as in And the and how there. growth

my not you comments about I side. and you specific further Camilla, or more Joe want know have to in-depth get do have yes, comments or knowledge from

with comes Instructions] America Ahmad from of line Bank of question Securities. Our the [Operator next Tazeen

recent dynamics can about the price talk to this have level launch Novo products? manufacturers competitive ] that injector recent SKYTROFA, impact daily to seeing [ you for talk discounts? you the are you're also new can deeper the that offering relatively net you about us And namely regards With of of competing the -- from

Thanks question. for the

things because the us question market. in it products in the can in that the same We other one got the think Yes, to asked of everyone are question. we position have same and Genza I obvious [indiscernible]. X them today, long-acting observe first ] describe ] we -- there see databases on basic of places. other line in the some going to We extremely just [ with other effect some [ of thing with the a of that. is well U.S. that their like the tolerability doing general, we see always Sagora preferred big and PPM, see have

no opportunity. the as also the look volume we market the really we there -- doubt, but coming said seeing also different product Hormone deficiency, generally revenue with, that on you best-in-class is to expansion I'm for in quarter best only into generation is growth on see second SKYTROFA to want that Pediatric down we of continue largest is when always for what not when happened And supplier what realizing is in that had we best-in-class basically a strength a in Growth we on but build But that also hormone all get example, the the in the example, label have the also XX%. should potential what

clearly, that of more come a was of the so to there market a adapted little us system. into bit fast entire that was the many So it unexpected reset potentially

you. Thank

line with Our Derek comes Wells Fargo. of question from the next Archila

you Just I the in thus might have on U.S.? the wanted YORVIPATH to a follow-up. know feedback then what And payer have received proposed pricing far

any back. on acceptable. And is treated. to that against to we support that responsible that, support or to are have we where statement with achieve a mathematic a entire be to We're patient out hypoparathyroidism, want go. agreement That can we aim pricing total In got not with that. pricing basically this they the coming have feedback can that not We coming we came responsible pricing. we Every

you that launch? expected you penetration XXX question, do the do And believe on second to far in think Very of U.S. ahead about patients expected? how thus for call where in Austria, you're terms the the and you less just think in you market the Is that it. then you approval And size in how talked relative about the about or I on than of YORVIPATH helpful. Got you commented Germany? Germany guess, overall tracking it I patients

come can get further some Camilla. some comments and you I can with comments on initial

penetration the There we beginning. what the Our we initial that look expected would X see aim to we how was physician and patients to typical expected in per see. be how at profile we X will

Before YORVIPATH the what that of patients. this single of number of will from we that and physicians start expect see patients really really the each they benefit When physicians patients eats give can to this later more patients in to prescribe observe them. or the more year

when in have Germany we physicians look prescriber of around already and the on it. Austria, prescribed So really that prescribed XXX had number

the have we is clinical never have the the giving But We they really treatment have then I in the really that take are on What our patient think described any When really the about product for That this they you test seen state does XX%. retention, exactly them, a is as impressive what me in this observed retention providing in have patients I extremely really think physicians. benefit when thing really really of that start before. to the we is you benefit are proud unique. for really, and to [indiscernible] and and are patient trials. for And a penetration retention. to most is about basic a

Austria? Camilla, Germany in I comments [ lungs you the further know do to specific and ] in not have

I well. very, you And very think said Yes. it

uptake YORVIPATH pleased with of Germany. are very the We the in

compared rare to disease benchmarking doing other launches, we are and well are them. We very

growing depth, creating been on [ are that's the on and and and that PGHD from path is the we fast. So also the that and between hard both breadth the ones working very, mix ] very patients the to path working and well team that YORVIPATH switch is that making have

go are where in we we'll pleased future. going the all, in it's very with all So how and

stop are the Yes. different because manufacturing. where regions. patient all the, basically that say, see now. NetPower it's And more What patient ] There on a drug much is specific that we lot tendency starting from of until European the NAPA in a taking seen of being change utilized can also the coming we to countries par you [indiscernible] [ in keep to now in its we up that accumulated have see [ more, ]

and region And being been revenue one out year. contracts launched from added in We we But Germany our in X then in, hopeful direct in in X, this now speed. France have 'XX, thing rolling and In Europe in we much a we X, strategy. really faster the Austria. go next European have will generate then way here to the this

Thank by question. you. our Please for stand next

Cantor. Watsek comes line question next Our Li from with the of

understand Maybe just assumptions SKYTROFA. the lower guidance help on this schedule a follow-up for for for year. went the Maybe what into us

what's and driving million XXX looking have Just access between a on that our for dynamics more little bit broader EUR market details a talk the pricing? about And reduction. Maybe follow-up. I

position could are first like keeping as half a will that have materialize, in upside last compared the And related half. constantly come it's have throughout basically to What we year seasonal basically a the value. statement the see that assess lower We first after we with DTN what note between a observed year, potentially still we overall and QX. that to can some how QX given visit in saw that as growth basically did predict now our did it we also that the we would utilize not effect we the last the materialize. between that growth and And be the of year. but we volume rest forecasting because second portfolio, to expect we I saw we an market we

this guidance not it. potential, can And that potential We accelerate the see anything that basically we believing potentially on we that. have is taken how see best-in-class the is growth. in we in So the forward

second getting in summary provide of you first Joe will this effect for that's now that responsible is short the half implemented give the can effect a all U.S. year. that about our

providers not have extreme growth about care care a allowing documenting can now hormone-deficient reimbursement, SKYTROFA. average other height, rental SKYTROFA intolerance, So hormones, patients patients below resubmission of formulary the on is that so providers have to therefore, with health they to chance are can growth provide SKYTROFA on per growth high where health also the clarity while where a pediatric right but access

So there's stabilize left things in time in obviously, 'XX. this year, will

now of our know continue and add revenue we we the and value grow growth grow hormone So where can entire the to and expand patients net marketplace.

Okay. And I break also from there any is wonder this if you the can you that talk can SKYTROFA a perspective? year further can little And chance guidance? cost you bit even about reduce where the still lower given

is numbers. really the Scott at good

can you will Scott I are So go looking to back give then perspective some today. of way or we [indiscernible] it more the at summary and

be are operating about really expenses we the in things Pharma highly see to we effective One internal a have organization. that keep keep we our to system really proud control, is of and Ascendis good really a that we

are We also take really regions is see to revenue starting there in that as Europe specific different now.

discussing So potentially, in of related the YORVIPATH help treatment FDA how we still that a the a U.S. U.S. we we patient help can where outside have hope is We We're are can to really we in in shortage still here situation with them. a

patients. to a much earlier We we that, It our we we soon into hear do for about as everything have as you. them. launch will so will that we And taking actually voice from the everything We means are clarity get launch. we do have physicians, faster the we clients. voice the will that help to can the will come hear an back We

So a we lot have upside. of potential

how and this our our Scott, control, where strengthen different how how can is are We about looking have a of lot in operating. keeping basically we're we comments? still we revenue, expenses ways we

of to said as as patients want tied you've know, we think to what look I and time, soon don't to expenses it sacrifice you getting cost-effective company, a do we getting doing the same the well, in evaluate But as we product. to that possible. at and always product as be Jan, that course, the we aren't

have where the after not we So particularly the patients. for to XXX that's continue today they're costs, reason new announced part the USD our of additional products we the close scrutiny on getting million. to But to leading financing great

for standby question. next our Please

with from Our Gavin the line next question Evercore Clark-Gartner of ISI. comes

I First, just when a policies these into And with to more in go expect SKYTROFA, we prescriptions? did wanted pickup place? when access ask for favorable should

during was the half think it I year. first gradual

are in the the The So here compared to of start we some these potential issue in basically was increase of agreements than rebate way them in ranked that to way complex we some and QX. established can faster that really first there taking into really complexity very the some of this aligned not volume. are volume grow rebate got much

installed second all as first told will I So in half, the number the first half. QX So that now a the perspective, double-digit Joe we in volume first, coming modeling increase the second growth see before, is but from okay? expected have a in we expect between ticking and QX, we in see in, effect would really

to you rate capture wanted changes Okay. overall. Have over data That makes trends ] noticed in [ time? just sense. ask And IQVIA guys any I on

I stable. And I places. is if the of someway -- the you data it's that personally issue think a have a few keep sampling everything

in You use the sampling some PBMs, can that the perspective as different volume see different it between an [indiscernible] are often totally between different are different. If trend. you really PBMs there up from market the unpredictable difference access, a at shift overall will is

useful I give free if should still because them not it buy so to times money, you want. I the I'm think but you utilization get that, data, I all totally at showed from pay if out it, So many least were not they of these you for paying have. it, But it, for

Thank standby question. for you. next Please our

of Our Purohit Morgan next comes Vikram Stanley. from the question with line

CNP readout. COACH and the to upcoming for in readout a this currently people in sets I out the just parameters would and how CNP. which contrast compare available guess sets competitor 'XX, the you XQ also data for data ApproaCH space? We data curious report just And switching to guide were then to you TransCon expect of versus

easiest most is healthy to most to, even in go to function vosoritide different X X every mode is if the is in hours that active this a is of between cycle. think because where XX them can dosing for vosoritide aligned there because compare or you we it exposure anything of had I is very a basically say, through way the have molecule cover of continuous from an only CNP action

I want address we So last said into provide the but now our also we the I'm what because and II Phase on until we in now the as seen and look And is years, co-morbidity both disease. aim, referring of the data when X to this have have linear can same level of children, analyzed we growth we provide dosing once-weekly the with profile. high we that today caregivers patient. about the to talk is velocity of the have physician, the many talk seen vosoritide But the in a improvement seen the the at the benefit about exactly and ways have that

address can other come science we some different from basically it, improvement a then that us function. taking of can have up perspective, placebo we any effect how measuring trial, to directly we show we to this is an of they have basically can in physical on biochemical why and need the Phase shows which exposure we we And secondary CNP by our basically life endpoint, to that continuous are always And been the co-morbidities. really great that go And related hope that when for which data with behind process, never II address explanation quality of basically compare it the the key co-morbidity, into give also our love you to to why when shown product.

you next from. coming data see where we the in that gives to it week. So the need I started are

So near. it's pretty pretty, pretty,

locked. been the has database the running So People are [indiscernible].

So taken a will they're finished, room assume the I be into and see data.

you. by for Please Thank next question. stand our

Our of Kelly line next Jefferies. Shi question comes from with

U.S. of could regulators the the on of ongoing which of batches Maybe please at likely quarter for you moment. existing commercialization PTH, next regarding the launch, interactions XQ year or more with your for elaborate is first

It's a U.S. shortest been need. patients available of been net par We to patients dialogue are are extremely of unmet certainly and constructive treatment driven now by have of FDA not address situation on huge in path NATPAR longer. [ that the PTH drops patients where an The their consequence extremely time basic and seeing need today, potential the medical to with will the how be the have for serious to missing be ] because that long disrupted related

will Out in to from this recognized issue. how manner out physician the we FDA that us potentially constant working find that patient think both to an And organization, can everyone patient suffer I avoid is extremely be. help together and crises and

by stand our next Please you. question. Thank for

comes Our line Lebowitz next David question of with the from Citi.

here. two got I

sales on just with I prior up the to SKYTROFA pricing I'll that. came And quarters? First, after adjustments, to of payers. then this as on true to new net more sure you had part couple got And last in an agreement the have it, make right, you one of

QX from from net but you true mainly have the This reflecting correct. revenue think is is from taken that 'XX. X.X about revenue. net away is for revenue understood also it I true that QX up That being a basically million is up

comments? QX, calculate in you is any from if That Scott to true reported, to want basically, sales need to add revenue this get it I you right? QX. net real all Or up did So the

Jan. right, Good. it got You

time on prior essentially the Got from updates? what it. to occurred And line CNP actually accelerate has pivotal data

to to physicians, dedication PTH too. how year, such I fast believe than extremely, out same in faster SKYTROFA has also clinical product what of to this compare function, setup retention the I seeing the have much possible. have that as extremely high can ever there thought. this fast kind is operation in our say case, a come We're and this brought of as the in much, been we for we have I to get only seen data

So positive thing coming I always it patients possible. this I out dedication think think to this fast data, when one when have in, get I to people I as the as see see

Thank you.

the Alex of Our next with question comes line Thompson Stifel. from

see launch YORVIPATH the the that U.S. you the you suitable quarter? the wants to a for of again would guess, data be about potential on understand material whether in have Could sort fourth U.S. needs in the talk FDA or to in to currently order I specifically

them, data. of we really least don't and any the at we anything all most is have have all and that. supply, data to they this on believe that think fast brought to how decision, the do have take It's the be not like mainly need can to actually data I things request how material I we on the

we this So that , we really can we can expect start, entire ensure that to demand when basic we come. manage we

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Yes.

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for X.X in million about other words, it would EUR the So XXX have been or higher first half.

in your no call. This concludes gentlemen, questions participation. and showing today's Ladies Thank you for Thank conference further queue. the you. I'm

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