Ascendis Pharma to List Ordinary Shares Directly on Nasdaq

Rhea-AI Summary

Ascendis Pharma (Nasdaq: ASND) will list its ordinary shares directly on The Nasdaq Global Select Market, effective at the open on April 20, 2026. All outstanding ADSs will be exchanged 1-for-1 for ordinary shares, which will trade under the existing ticker ASND.

The ordinary shares will use new identifiers: CUSIP K08588103 and ISIN DK0060606333. The company said the simplified listing aims to broaden investor access, potentially support index inclusion, and enhance institutional ownership and liquidity. A FAQ will be posted on the company's investor website.

Positive

• Direct Nasdaq listing effective 20 April 2026
• ADS exchange 1-for-1 into ordinary shares
• New identifiers: CUSIP K08588103 and ISIN DK0060606333

Negative

• ADS holders must complete administrative exchange to receive ordinary shares
• Brokerage and record-keeping updates required for holders and custodians

News Market Reaction – ASND

+5.77%

20 alerts

+5.77% Session close to close

$15.29B Market Cap

0.8x Rel. Volume

In the Apr 8 session, ASND gained 5.77%, reflecting a notable positive market reaction. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved +5.8% in the session following this news. A strong positive reaction aligns with how...

Analysis

The stock moved +5.8% in the session following this news. A strong positive reaction aligns with how investors have previously rewarded major corporate or capital-markets milestones, such as regulatory approvals and pivotal trial updates. A direct listing of ordinary shares on Nasdaq, with a 1:1 exchange for ADSs effective April 20, 2026, simplified the structure and could have expanded index and institutional access. Investors would still need to weigh execution on the broader clinical pipeline and financial performance when assessing durability of any gains.

Key Figures

ADS exchange ratio: 1 ordinary share per ADS Nasdaq direct listing date: April 20, 2026

2 metrics

ADS exchange ratio 1 ordinary share per ADS Exchange of all American Depositary Shares for ordinary shares

Nasdaq direct listing date April 20, 2026 Ordinary shares expected to commence trading on Nasdaq

Historical Context

5 past events · Latest: Mar 17 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 17	Phase 2 trial data	Positive	-1.3%	Phase 2 New InsiGHTS trial showed comparable efficacy and safety vs daily somatropin.
Mar 16	Pivotal trial update	Positive	+2.0%	Two-year ApproaCH Trial data showed sustained growth benefits and favorable tolerability.
Mar 02	Conference participation	Neutral	+3.7%	Announcement of participation in TD Cowen health care conference with webcast access.
Feb 27	FDA approval	Positive	+3.7%	FDA accelerated approval of once-weekly YUVIWEL for children with achondroplasia.
Feb 11	Earnings report	Neutral	-1.5%	Reported Q4 and full-year 2025 results with revenue growth but a full-year net loss.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent clinically and regulatory positive news often saw positive price reactions, though there is at least one divergence where favorable trial data coincided with a mild decline.

Recent Company History

Over the past months, ASCENDIS reported multiple pipeline and regulatory milestones, including FDA approval of YUVIWEL and positive data for TransCon hGH and TransCon CNP, alongside solid 2025 product revenue of €684 million. Reactions have varied: FDA approval and pivotal trial data on Feb 27 and Mar 16 saw gains around +2–3.68%, while other positive trial updates and earnings on Mar 17 and Feb 11 coincided with modest declines. Today’s listing-structure news fits into an ongoing period of strategic and capital-markets activity.

Key Terms

american depositary shares, ads, cusip, isin, +2 more

6 terms

american depositary shares financial

"all American Depositary Shares (ADSs) - ADS holders will receive one ordinary share"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

ads financial

"ADS holders will receive one ordinary share listed on Nasdaq for each ADS held"

Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.

cusip financial

"The ordinary shares will trade under a new CUSIP number K08588103 and ISIN DK0060606333"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

View in glossary

isin regulatory

"CUSIP number K08588103 and ISIN DK0060606333, replacing the existing ADS CUSIP and ISIN."

A 12-character International Securities Identification Number (ISIN) is a unique code that acts like a passport for a specific stock, bond or other tradable security so it can be identified worldwide. Investors and systems use it to ensure they are buying, selling and tracking the exact same instrument across exchanges and data feeds, which prevents costly mix-ups and makes portfolio reporting, settlement and regulatory checks simpler and more reliable.

View in glossary

direct listing financial

"plans to list its ordinary shares directly on Nasdaq, effective at the opening of trading"

A direct listing is a way for a company to become publicly available for trading without issuing new shares or raising additional money beforehand. Instead, existing shares are simply made available for purchase on the stock market, allowing current investors and employees to sell their holdings. This process can offer a simpler and faster way for a company to go public, giving investors quicker access to buy and sell shares.

View in glossary

nasdaq global select market financial

"direct listing of ordinary shares on The Nasdaq Global Select Market, all outstanding ADSs"

A Nasdaq Global Select Market listing is the highest tier of stocks on the Nasdaq exchange, reserved for companies that meet the strictest financial, reporting and governance standards. For investors, it acts like a premium quality label—signaling larger, more transparent and better-governed companies that tend to offer greater liquidity and lower perceived risk compared with lower-tier listings, making it easier to buy, sell and evaluate shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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 - Ordinary shares expected to commence trading on Nasdaq on April 20, 2026 following exchange of all American Depositary Shares (ADSs)

 - ADS holders will receive one ordinary share listed on Nasdaq for each ADS held

 - Simplified listing structure intended to enable enhanced depth and breadth of ownership

COPENHAGEN, Denmark, April 08, 2026 (GLOBE NEWSWIRE) -- Ascendis Pharma A/S (Nasdaq: ASND) today announced that it plans to list its ordinary shares directly on Nasdaq, effective at the opening of trading on April 20, 2026.

As part of the transition to a direct listing of ordinary shares on The Nasdaq Global Select Market, all outstanding ADSs will be exchanged for ordinary shares. Each ADS currently eligible for trading will be exchanged for one ordinary share, which will be listed and commence trading on The Nasdaq Global Select Market under the Company’s existing ticker symbol “ASND” on April 20, 2026.

“As we transform into a leading global biopharma company, we believe a direct listing of our ordinary shares will broaden access to global investment in Ascendis,” said Scott T. Smith, Chief Financial Officer of Ascendis Pharma. “In addition, we believe a direct listing may also facilitate inclusion in certain equity indexes, which could result in further enhanced institutional ownership and trading liquidity for ASND shares.”

The ordinary shares will trade under a new CUSIP number K08588103 and ISIN DK0060606333, replacing the existing ADS CUSIP and ISIN. A list of frequently asked questions related to the listing of ordinary shares and exchange of ADSs will be made available on the Investors & News section of the Ascendis Pharma website at https://investors.ascendispharma.com.

About Ascendis Pharma A/S
Ascendis Pharma is a global biopharmaceutical company focused on applying our innovative TransCon technology platform to make a meaningful difference for patients. Guided by our core values of Patients, Science, and Passion, and following our algorithm for product innovation, we apply TransCon to develop new therapies that demonstrate best-in-class potential to address unmet medical needs. Ascendis is headquartered in Copenhagen, Denmark, and has additional facilities in Europe and the United States. Please visit ascendispharma.com to learn more.

Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding Ascendis’ future operations, plans and objectives of management are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Examples of such statements include, but are not limited to, statements relating to (i) the contemplated timing and implementation of the exchange of ADSs for ordinary shares, (ii) the contemplated listing and trading of ordinary shares on The Nasdaq Global Select Market, and (iii) the anticipated benefits of the direct listing of ordinary shares. Ascendis may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions, expectations and projections disclosed in the forward-looking statements. Various important factors could cause actual results or events to differ materially from the forward-looking statements that Ascendis makes, including the following: risks that the exchange of ADSs for ordinary shares may not be completed on the anticipated timeline or at all; risks related to the eligibility of the ordinary shares for clearance and holding in The Depository Trust Company system; the possibility that ordinary shares may not be approved for listing on The Nasdaq Global Select Market, or that listing may be delayed or subject to conditions; risks that trading in ordinary shares on Nasdaq may be less liquid or result in different trading dynamics than trading in ADSs; potential adverse tax consequences to ADS holders in connection with the exchange of ADSs for ordinary shares; and risks related to the impact of the exchange of ADSs for ordinary shares on the Company’s other outstanding securities. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Ascendis’ business in general, see Ascendis’ Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (SEC) on February 11, 2026, and Ascendis’ other future reports filed with, or submitted to, the SEC. Forward-looking statements do not reflect the potential impact of any future licensing, collaborations, acquisitions, mergers, dispositions, joint ventures, or investments that Ascendis may enter into or make. Ascendis does not assume any obligation to update any forward-looking statements, except as required by law.

Ascendis, Ascendis Pharma, the Ascendis Pharma logo, and TransCon are trademarks owned by the Ascendis Pharma group.© April 2026 Ascendis Pharma A/S.

Investor Contacts:	Media Contact:
Chad Fugere	Melinda Baker
Ascendis Pharma	Ascendis Pharma
+1 (650) 519-7494	+1 (650) 709-8875

                                                           

FAQ

When will Ascendis Pharma (ASND) ordinary shares begin trading on Nasdaq?

Ordinary shares will begin trading on April 20, 2026 at Nasdaq open. According to the company, the change takes effect at the opening of trading on that date and replaces ADS trading with ordinary-share trading.

How will Ascendis Pharma (ASND) ADSs be converted to ordinary shares?

Each ADS will be exchanged for one ordinary share on a 1-for-1 basis. According to the company, all outstanding ADSs eligible for trading will be exchanged prior to the ordinary shares commencing Nasdaq trading.

Will Ascendis Pharma (ASND) keep the same ticker after the listing change?

Yes. The company will continue to trade under the ticker ASND on Nasdaq. According to the company, the existing ticker remains unchanged while the security type moves from ADSs to ordinary shares.

What new CUSIP and ISIN will Ascendis Pharma (ASND) ordinary shares use?

The ordinary shares will use CUSIP K08588103 and ISIN DK0060606333. According to the company, these identifiers replace the existing ADS CUSIP and ISIN upon listing on April 20, 2026.

Will the direct Nasdaq listing affect Ascendis Pharma (ASND) dividend or ownership rights?

Ordinary shares carry standard shareholder rights consistent with the company's capital structure. According to the company, the listing simplifies the share class but does not state any change to fundamental ownership rights or dividend policy.

Where can investors find more details about the ASND ADS exchange and listing?

A FAQ and detailed instructions will be posted on the company's investor website. According to the company, the Investors & News section will host guidance about the ADS-to-ordinary share exchange and related procedures.