Ascendis Pharma A/S closed an underwritten public offering to raise funds to develop its growth hormone deficiency treatment known as TransCon.

The Danish biopharmaceutical company issued 4,539,473 American depositary shares priced at $57 apiece to raise $242.5 million. Shares issued include the 592,105 ADS that underwriters acquired as part of their over-allotment option, which was exercised in full.

JP Morgan Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc., Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC, Stifel, Nicolaus & Co. Inc. and Wedbush Securities Inc. acted as underwriters for the offering.