Ascendis rises on positive trial data for dwarfism therapy
** U.S.-listed shares of Denmark-based Ascendis Pharma A71.F, ASND.O rise 17.3% to $139.88
** ASND says its achondroplasia therapy TransCon CNP met its main goal by showing an average growth velocity of 5.89 cm/year vs 4.41 cm/year for a placebo in a trial
** Achondroplasia is a form of short-limbed dwarfism caused by a mutation in a gene
** In 5-11 year olds TransCon delivered a 1.78cm/year average growth velocity vs 1.57 or 1.74cm/year for BioMarin's BMRN.O Voxzogo, beating expectations that assumed lower TransCon efficacy vs Voxzogo - brokerage BMO Capital Markets
** "We expect TransCon to impact Voxzogo's market share, given TransCon weekly administration, we think that the overall Voxzogo opportunity across various ages/indications is largely unaffected and the BMRN reaction is overdone" - BMO
** Shares of BMRN are down 15.1% in afternoon trade
** YTD, ASND up 11.3% and BMRN down 25.8%
Reporting by Puyaan Singh
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