Phase 2 COACH Trial Topline Week 52 Data January 8, 2026 Treatment with TransCon CNP and TransCon hGH combination therapy is investigational. For investor communication only. Not for use in product promotion. Not for further distribution. Cautionary Note on Forward-Looking Statements This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, such as statements regarding TransCon hGH's ability to complement TransCon CNP's ho ...

– Once-weekly TransCon® CNP and TransCon® hGH combination therapy showed durable growth without compromising safety or tolerability at 52 weeks – Annualized growth velocity (AGV) exceeded the 97th-percentile of average stature children – ACH height Z-score improvements indicated a tripling of efficacy compared to TransCon CNP monotherapy – Combination therapy demonstrated benefits beyond linear growth with improvements in body proportionality and arm span, aligning with the increase in linear growth – All ...

Core Insights - Ascendis Pharma A/S will participate in the 44th Annual J.P. Morgan Healthcare Conference on January 12, 2026, providing a business update [1] - A live webcast of the presentation will be available on the Ascendis Pharma website, with a replay accessible for 30 days post-event [2] Company Overview - Ascendis Pharma is a global biopharmaceutical company focused on its innovative TransCon technology platform to develop new therapies addressing unmet medical needs [3] - The company is headquartered in Copenhagen, Denmark, with additional facilities in Europe and the United States [3]

Core Insights - Ascendis Pharma (ASND) is rumored to be a potential acquisition target in the near term, following strong earnings reported for Q3 2025 [1] Company Performance - The company reported robust Q3 2025 earnings in November, which contributed to the speculation surrounding its acquisition [1] Analyst Background - The analyst has a Master's degree in Cell Biology and extensive experience in drug discovery, which informs their investment analysis in the biotech sector [1] - The focus is on identifying innovative biotechnology companies with unique mechanisms of action and potential to reshape treatment paradigms [1] Investment Approach - The investment strategy emphasizes evaluating the science behind drug candidates, competitive landscape, clinical trial design, and market opportunities while balancing financial fundamentals [1]

Core Insights - Warren Buffett has spent nearly $78 billion on stock repurchases since July 2018, indicating a strong belief in the intrinsic value of Berkshire Hathaway [1][21] - Buffett is set to retire at the end of the year after 60 years of leadership, during which he has achieved a cumulative return of almost 5,942,000% for Berkshire Hathaway's Class A shares [2] - Despite a historically expensive stock market, Buffett has been selective in his investments, focusing on companies with sustainable competitive advantages and strong capital-return programs [5][7] Investment Strategy - Buffett's investment philosophy emphasizes value; he only buys when he believes he is getting a good deal [5] - In recent years, Buffett has sold more stocks than he has purchased, totaling nearly $184 billion in net selling over the last 12 quarters [6] - Notable recent purchases include 17,846,142 Class A shares of Alphabet (GOOGL), reflecting confidence in the company's advertising and cloud services [9][10][11] Company Performance - Alphabet holds a dominant position in global internet search, capturing 89% to 93% of the market share, which enhances its advertising pricing power [10] - Google Cloud is expected to drive significant sales and cash flow growth, with an annual sales growth rate exceeding 30% [11] - Domino's Pizza has been a consistent investment for Buffett, with a focus on brand trust and transparency, alongside a strong growth strategy [13][14][15] Share Repurchase Activity - Berkshire Hathaway's board amended buyback rules in July 2018, allowing for unlimited repurchases if the company maintains at least $30 billion in cash and believes its stock is undervalued [19] - Between July 2018 and June 2024, Buffett has repurchased shares for 24 consecutive quarters, although there has been a 16-month period without any purchases due to high share premiums [21][22] - The share premium to book value has increased to between 60% and 80% during the period of inactivity, indicating a cautious approach to valuation [22] Long-term Confidence - Buffett has consistently expressed confidence in Berkshire Hathaway as a long-term investment, emphasizing the company's ability to thrive in various economic cycles [23][24]

Company Insights - Ascendis Pharma A/S's New Drug Application (NDA) for TransCon CNP has had its review period extended by the FDA, with the new target action date set for February 28, 2026, due to a major amendment submitted on November 5 [2] - Ascendis Pharma's stock rose by 0.8% to close at $207.12 on Monday [6] Industry Trends - The consumer discretionary sector is showing signs of optimism, with growth expectations for the next year, as indicated by the selection of iShares US Consumer Discretionary ETF by NB Private Wealth [3] - Monolithic Power Systems Inc reported better-than-expected third-quarter results, with earnings of $4.73 per share surpassing the consensus estimate of $4.64, and sales of $737.176 million exceeding the estimate of $722.252 million [5] - Monolithic Power's shares gained 2.1% to close at $983.58 on Monday [6] Analyst Ratings - Morgan Stanley analyst Terence Flynn maintained an Overweight rating on Vertex and raised the price target from $516 to $564 [4]

Group 1: Market Sentiment and Trends - Consumer discretionary sector is showing increased optimism due to growth expectations for the upcoming year [2] - Semiconductor equipment names, particularly Monolithic Power Systems (MPWR), have seen significant performance, with MPWR up over 60% in the last year [2] - The semiconductor index reached a record high, indicating strong outperformance of semiconductors compared to software [3] Group 2: Technical Movements - MPWR experienced a 3.5% increase today, attributed to technical factors and a general bounce in the semiconductor equipment sector [3] - GBIQ is selling calls against the NASDAQ, indicating a strategy to capitalize on market movements, with a 10.5% increase noted but only 30-50% coverage for further upside [2]

Group 1 - The biotech sector faces significant challenges in transitioning from continuous cash burn to operational profitability, which is a critical milestone for companies in this industry [1] - There is a strong interest in high-growth companies within sectors that are expected to experience exponential growth, highlighting the potential for substantial returns through innovation [1] Group 2 - The analysis emphasizes a combination of fundamental analysis and future trend prediction as essential tools for understanding and investing in disruptive technologies [1]

Core Viewpoint - The FDA has extended the review period for Ascendis Pharma's New Drug Application for TransCon CNP, a treatment for children with achondroplasia, by three months to February 28, 2026, due to a major amendment related to post-marketing requirements [1][3]. Company Overview - Ascendis Pharma is focused on developing treatments for rare diseases, with TransCon CNP being a key product aimed at addressing achondroplasia, the most common form of skeletal dysplasia caused by a mutation in the FGFR3 gene [2][4]. - The company has reported positive results from its ApproaCH Trial, demonstrating significant improvements in annualized growth velocity and health-related quality of life for children treated with TransCon CNP compared to placebo [4][5]. Regulatory Update - The FDA's extension of the PDUFA target action date is a response to the major amendment submitted by Ascendis Pharma, which included a revised protocol for the post-marketing study [3]. - The company has addressed all outstanding requests from the FDA, indicating proactive engagement in the regulatory process [3]. Clinical Data - The pivotal week 52 results from the ApproaCH Trial were published in JAMA Pediatrics, highlighting the efficacy of TransCon CNP in improving growth metrics and overall health outcomes for children with achondroplasia [4][5]. - The treatment showed a safety and tolerability profile similar to that of placebo, reinforcing its potential as a viable therapeutic option [5]. Market Performance - Ascendis Pharma's stock price increased by 1.44%, reaching $213.03 at the time of publication, reflecting positive market sentiment regarding the company's developments [7].

Core Insights - The U.S. Food and Drug Administration (FDA) has extended its review of Ascendis Pharma's therapy aimed at treating children with a rare genetic disorder that leads to dwarfism [1] Company Summary - Ascendis Pharma is currently awaiting the FDA's decision on its therapy for a specific genetic disorder affecting children [1]