Financial Data and Key Metrics Changes - The company reported a net loss of €218 million or €4.69 per share for 2019, compared to a net loss of €130.1 million or €3.17 per share in 2018, indicating a significant increase in losses [28]. - Research and development costs rose to €191.6 million in 2019 from €140.3 million in 2018, reflecting ongoing advancements in the pipeline [28]. - General and administrative expenses increased to €48.5 million in 2019 from €25.1 million in 2018, primarily due to higher personnel costs [29]. Business Line Data and Key Metrics Changes - The TransCon Growth Hormone program is on track for a U.S. BLA filing in Q2 2020 and an MAA filing in Q4 2020, with positive clinical data supporting its efficacy [12][14]. - TransCon PTH is in Phase 2 trials, with an expansion of enrollment due to the recall of NATPARA, aiming to establish it as a true replacement therapy for hypoparathyroidism [17][18]. - TransCon CNP is in a Phase 2 trial, with ongoing efforts to expand clinical programs in China, indicating a strategic focus on global reach [25][26]. Market Data and Key Metrics Changes - The adult growth hormone deficiency market is under-penetrated, with estimates suggesting only 15% to 20% penetration, presenting a significant opportunity for the company [49]. - The company is leveraging its global structure to mitigate risks associated with the pandemic, ensuring continued progress across various geographic regions [10][11]. Company Strategy and Development Direction - The company aims to become a leading biopharma company, focusing on a diverse pipeline of innovative drug candidates across multiple therapeutic areas, including endocrinology and oncology [9][26]. - The strategic goal includes establishing TransCon Growth Hormone as a new benchmark in growth hormone replacement therapy, with plans for global clinical reach and new indications [14][16]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2020 milestones despite the pandemic, citing a strong organizational structure and adaptability [10][11]. - The company anticipates increased expenses in 2020 as it continues to advance its pipeline and expand its oncology activities [30][31]. Other Important Information - The company ended 2019 with cash and cash equivalents of €598.1 million, providing a solid financial foundation for ongoing projects [29]. - The company is preparing for a potential launch of TransCon Growth Hormone in the U.S. in 2021, indicating readiness for commercialization [16]. Q&A Session Summary Question: Feedback from Pitco on growth hormone and PaTH Forward results - Management indicated they received initial feedback from Pitco, requesting more information, and they expect to hear back by the end of June [38][39]. - They plan to provide analysis related to each element of the composite primary endpoint in the PaTH Forward results [42]. Question: Requirements for European application and adult growth hormone market - Additional submissions for the MAA include an approved PIP and a risk management plan [46]. - The adult growth hormone deficiency market is significantly under-penetrated, presenting a large opportunity for the company [49]. Question: Titration regimen for long-term extension study - The high level of removal of standard of care is attributed to the physiological profile of the PTH product, which mimics continuous PTH levels [52]. - The six-month follow-up data is expected to be essential for assessing treatment effects [54]. Question: Differences in patients previously on NATPARA - Patients previously on NATPARA will be analyzed separately for certain endpoints, but not for the primary endpoint [56]. Question: Frequency of clinical visits in OLE study - The company is implementing procedures to allow for remote monitoring and follow-up, ensuring patient safety during the pandemic [64].

Endocrinology Rare Diseases Pipeline - Ascendis Pharma expects to submit the BLA for TransCon hGH for pediatric growth hormone deficiency in Q2 2020 and the MAA in Q4 2020[7, 23, 50] - The Phase 3 heiGHt Trial demonstrated superior height velocity (AHV) of TransCon hGH in pediatric GHD, with 112 cm/year compared to 103 cm/year for Genotropin, a treatment difference of 086 cm/year[25, 50] - The adverse event profile of TransCon hGH was comparable to daily hGH across Phase 3 trials, with 77% of patients experiencing treatment-emergent adverse events (TEAEs) in the TransCon hGH 024 mg/kg/week group in the heiGHt trial, compared to 70% in the Genotropin group[42] - Ascendis Pharma plans to initiate a Phase 3 trial for adult GHD in Q1 2020 and a Phase 3 trial for pediatric GHD in Japan in Q4 2020[50, 97] - Top-line Phase 2 data for TransCon PTH in hypoparathyroidism is expected by the end of March 2020, with six-month data from the open-label extension expected in Q3 2020[7, 65, 97] - Preliminary data from the first 8 subjects completing 4 weeks follow-up in open-label extension of TransCon PTH trial shows that all subjects are completely off current standard of care, 8 of 8 subjects no longer require active vitamin D, and 7 of 8 subjects no longer require calcium supplements[65] - Ascendis Pharma expects to initiate a Phase 2 trial for achondroplasia (ACH) in China in Q4 2020 through VISEN Pharmaceuticals[7, 70, 97] Oncology Pipeline - Ascendis Pharma anticipates submitting the first IND or equivalent for its oncology program in Q4 2020[7, 95, 97] - Preclinical data for TransCon IL-2 b/g in cynomolgus monkeys showed a single 1 mg dose/animal (~01 mg/kg) resulted in >3-fold enhancement of lymphocyte counts, with minimal effect on eosinophils compared to Aldesleukin[88] Financial Position - As of September 30, 2019, Ascendis Pharma had approximately €659 million in cash and cash equivalents[7]

Ascendis Pharma A/S (ASND) Q3 2019 Earnings Conference Call November 15, 2019 4:30 PM ET Company Participants Scott Smith - SVP and CFO Jan Mikkelsen - President and CEO Juha Punnonen - Head of Oncology Dana Pizzuti - Head of Development Operations Conference Call Participants Jessica Fye - JP Morgan Alethia Young - Cantor Fitzgerald Tazeen Ahmad - Bank of America Merrill Lynch David Lebowitz - Morgan Stanley Michelle Gilson - Canaccord Liana Moussatos - Wedbush Securities Josh Schimmer - Evercore ISI Josep ...

Ascendis Pharma A/S (ASND) Q2 2019 Results Earnings Conference Call August 28, 2019 4:30 PM ET Company Participants Jan Mikkelsen - President and Chief Executive Officer Dr. Jonathan Leff - Chief Medical Officer Scott Smith - SVP and Chief Financial Officer Tom Larson - Chief Commercial Officer Juha Punnonen - Head of Oncology Conference Call Participants Josh Schimmer - Evercore Tazeen Ahmad - Bank of America Merrill Lynch Jessica Fye - JPMorgan Michelle Gilson - Canaccord Genuity Jim Birchenough - Wells F ...

Ascendis Pharma A/S (ASND) Q1 2019 Earnings Conference Call May 30, 2019 4:30 PM ET Company Participants Scott Smith - Senior Vice President & Chief Financial Officer Jan Mikkelsen - President & Chief Executive Officer Jonathan Leff - Chief Medical Officer Conference Call Participants Tazeen Ahmad - Bank of America Merrill Lynch Jessica Fye - JPMorgan Michelle Gilson - Canaccord Genuity Adam Walsh - Stifel Alethia Young - Cantor Fitzgerald Operator Good day, ladies and gentlemen, and welcome to the First Qu ...

Ascendis Pharma A/S (ASND) Q1 2019 Earnings Conference Call April 3, 2019 4:30 PM ET Company Participants Scott Smith - SVP and CFO Jan Mikkelsen - President and CEO Jonathan Leff - SVP and Chief Medical Officer Conference Call Participants Michelle Gilson - Canaccord Genuity Yuko Oku - JP Morgan Adam Walsh - Stifel, Nicolaus & Company Liana Moussatos - Wedbush Securities Inc James Birchenough - Wells Fargo Securities Tiago Fauth - Credit Suisse Olivia Yang - Cantor Fitzgerald Joseph Schwartz - SVB Leerink ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTI ...