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Ascendis Pharma prices offering of American depositary shares

Ascendis Pharma A/S priced an underwritten public offering of 3,947,368 American depositary shares at $57 apiece.

The Danish biopharmaceutical company expects to raise $210.8 million in net proceeds which will be used to develop its growth hormone deficiency treatment known as TransCon, as well as to identify new product candidates in other areas.

Ascendis, which also develops therapies for pulmonary arterial hypertension and diabetes, granted the offering's underwriters an option to buy up to an additional 592,105 ADSs.

J.P. Morgan Securities LLC, BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are acting as joint book-running managers for the offering, which is expected to close by Feb. 26.

Wells Fargo Securities LLC and Stifel are acting as lead managers while Wedbush PacGrow is acting as co-manager.