Ascendis Pharma A/S said it closed its previously announced offering of securities for net proceeds of about $469.3 million.

The Denmark-based biopharmaceutical company issued 4,166,667 American depositary shares at $120 apiece.

Each ADS in the offering represents one ordinary share of Ascendis Pharma.

The company had also granted the underwriters an option to buy up to 625,000 additional ADSs at the public offering price.

Ascendis Pharma's shares rose more than 70% recently after it revealed results from a late-stage study of its once-weekly TransCon Growth Hormone therapy.

The results demonstrated that the company's therapy encouraged more growth in pediatric patients with growth hormone deficiency compared to Pfizer Inc.'s daily Genotropin medicine.

The company plans to use the proceeds from the offering to commercialize its TransCon human growth hormone therapy, for the clinical development of its rare disease endocrinology programs TransCon parathyroid hormone and TransCon C-type natriuretic peptide, and for identifying new product candidates.

Ascendis will also use the funds for working capital and general corporate purposes.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and Evercore Group LLC are acting as joint book-running managers for the offering, while Wells Fargo Securities LLC, Cantor Fitzgerald & Co., Canaccord Genuity LLC and Wedbush Securities Inc. are acting as co-lead managers.