-- Q3 2026 product revenue of EUR366 million (+89% Y/Y), comprising EUR291
million for YORVIPATH(R), EUR59 million for SKYTROFA(R), and EUR16
million for YUVIWEL(R)
-- Received positive CHMP and COMP opinions recommending EU marketing
authorization and maintenance of orphan medicinal product
designation for TransCon(R) CNP
-- Final EC decision for TransCon CNP expected in Q4 2026; first EU launch
planned in Germany in Q1 2027
-- Presented Week 52 sentinel cohort data in infants with achondroplasia
aged 0 to <2 years showing TransCon CNP stabilized or improved foramen
magnum stenosis, and increased linear growth; topline pivotal data
expected Q3 2027
-- Conference call today at 8:00 a.m. ET
COPENHAGEN, Denmark, Nov. 12, 2026 (GLOBE NEWSWIRE) -- Ascendis Pharma A/S (Nasdaq: ASND) today announced financial results for the third quarter ended September 30, 2026, and provided a business update.
"By always putting patients first, Ascendis has delivered three consecutive approved rare endocrine therapies that are the foundation of our transformation into a leading global biopharmaceutical company," said Jan Mikkelsen, President and Chief Executive Officer of Ascendis Pharma. "With many label expansion programs, new country launches, and the capabilities to reach patients worldwide and develop new products efficiently, we are well positioned to deliver durable long-term growth."
Select Highlights & Anticipated Milestones
-- YORVIPATH(palopegteriparatide, developed as TransCon PTH)
-- YORVIPATH revenue for the third quarter of 2026 totaled EUR291
million (+103% Y/Y).
-- In the U.S., new patient demand was consistent with prior
quarters. Outside the U.S., new patient demand accelerated through
new commercial launches. YORVIPATH is now available commercially
or through named patient programs in more than 40 countries.
-- Presented data from pooled analysis of Phase 2 PaTH Forward and
Phase 3 PaTHway trials at ASN 2026 demonstrating sustained,
clinically meaningful improvements in kidney function in adults
with hypoparathyroidism treated with TransCon PTH for up to five
years.
-- Results from the Phase 3 PaTHway China and PaTHway Japan trials
evaluating TransCon PTH in adults with hypoparathyroidism
demonstrated efficacy and safety findings consistent with those
reported in the pivotal Phase 3 PaTHway Trial, reinforcing the
consistency of results across geographies and ethnicities.
-- SKYTROFA(lonapegsomatropin, developed as TransCon hGH)
-- SKYTROFA revenue for the third quarter of 2026 totaled EUR59
million.
-- Ongoing Phase 3 HighLiGHts basket trial across a range of
established growth hormone indications: idiopathic short stature
(ISS), SHOX deficiency, Turner syndrome, and small for gestational
age $(SGA)$. Completion of enrollment anticipated in the first half
of 2027.
-- YUVIWEL(navepegritide, developed as TransCon CNP)
-- YUVIWEL revenue for the third quarter of 2026 totaled EUR16
million.
-- In the U.S., approximately 340 unique YUVIWEL patient enrollments
by nearly 150 prescribing healthcare providers, with more than 80%
of enrollments approved for reimbursement through October 31,
2026.
-- In the EU, received positive CHMP and COMP opinions recommending
marketing authorization as a treatment of achondroplasia in
children and maintenance of orphan medicinal product designation,
respectively, for once-weekly TransCon CNP. Final EC decision
expected during the Q4 2026 with first EU launch planned in
Germany in Q1 2027.
-- In select international markets, YUVIWEL is being made available
through early access programs, and Ascendis expects to recognize
revenue from multiple countries outside of the U.S. and EU in the
coming quarters.
-- Presented infant sentinel cohort Week 52 data from the reACHin
Trial at ESPE 2026, showing that treatment with once-weekly
TransCon CNP stabilized or improved foramen magnum stenosis (a
skull bone narrowing that can lead to brain stem and spinal cord
compression), as well as linear growth benefits, in infants with
achondroplasia aged 0 to <2 years. Pivotal data expected Q3 2027.
-- Expect to enroll first patients in Phase 3 trial evaluating
TransCon CNP monotherapy in children with hypochondroplasia in Q4
2026. Expect to initiate a Phase 2 trial in adults with
achondroplasia in Q4 2026.
-- TransCon CNP + TransCon hGH Combination Therapy(navepegritide plus
lonapegsomatropin)
-- Following presentation of additional Week 78 data from the Phase 2
COACH Trial at ASBMR 2026 showing durable increase in healthy,
proportional growth in children with achondroplasia, 100% of the
21 enrolled children remain on therapy to date.
-- Initiated Phase 3 cAtCH Trial in children with achondroplasia;
expect to complete enrollment in Q2 2027.
Key Financial Highlights
-- Total product revenue for the third quarter of 2026 increased to EUR366
million, reflecting year-over-year growth of +89%.
-- Total revenue for the third quarter of 2026 was EUR370 million.
-- Operating profit for the third quarter of 2026 totaled EUR125 million,
reflecting a margin of 34%. On a non-IFRS basis, operating profit was
EUR156 million*, reflecting a margin of 42%*.
-- Net profit for the third quarter of 2026 totaled EUR74 million, or
EUR1.08 per diluted share. On a non-IFRS basis, net profit was EUR117
million*, or EUR1.71 per diluted share*.
-- Cash flow from operating activities was EUR189 million for the third
quarter of 2026; expect full year 2026 cash flow from operating
activities of at least EUR600 million.
-- As of September 30, 2026, cash and cash equivalents totaled EUR964
million, compared to cash and cash equivalents of EUR616 million as of
December 31, 2025.
-- Through September 30, 2026, repurchased 794,304 Ascendis ordinary shares
for total consideration of $186 million.
-- Year to date through November 11, 2026, repurchased 1,998,999 Ascendis
ordinary shares for total consideration of $459 million.
* See "Non-IFRS Financial Measures" below for definitions of these non-IFRS measures and a reconciliation to the most directly comparable IFRS measures.
Third Quarter 2026 Financial Results
Total revenue for the third quarter of 2026 was EUR370 million, compared to EUR214 million during the same period in 2025. The year-over-year increase in revenue was primarily attributable to the continued growth of YORVIPATH global sales.
Total Revenue Three Months Ended Nine Months Ended
(In EUR'000s) September 30, September 30,
-------------------- -------------------
2026 2025 2026 2025
--------- --------- --------- --------
Revenue
Commercial products 365,690 193,790 921,452 443,480
Other revenue
Milestones -- 12,922 17,046 12,922
Licenses, services and
clinical supply 3,967 6,922 17,045 16,230
Total revenue 369,657 213,634 955,543 472,632
========= ========= ========= ========
Revenue from Commercial Three Months Ended Nine Months Ended
Products (In EUR'000s) September 30, September 30,
-------------------- -------------------
2026 2025 2026 2025
--------- --------- --------- --------
Revenue from commercial products
YORVIPATH(R) 290,626 143,089 739,634 290,735
SKYTROFA(R) 59,424 50,701 158,595 152,745
YUVIWEL(R) 15,640 -- 23,223 --
--------- --------- --------- --------
Total revenue from
commercial products 365,690 193,790 921,452 443,480
========= ========= ========= ========
Research and development expenses for the third quarter of 2026 were EUR70 million, compared to EUR67 million during the same period in 2025. The increase was due to increased clinical trial activities within the Endocrinology Rare Disease pipeline, partially offset by reduced clinical trial activities within Oncology.
Selling, general, and administrative expenses for the third quarter of 2026 were EUR147 million, compared to EUR113 million during the same period in 2025. The increase was primarily due to the continued commercial expansion, including global launch activities.
Total operating expenses for the third quarter of 2026 were EUR217 million, compared to EUR180 million during the same period in 2025.
Operating profit for the third quarter of 2026 was EUR125 million, reflecting a margin of 34%, compared to EUR11 million, reflecting a margin of 5% during the same period in 2025. The increase was primarily driven by higher revenue from the continued growth of YORVIPATH global sales, partially offset by higher operating expenses associated with global commercial expansion.
Net finance expenses for the third quarter of 2026 were EUR4 million, compared to EUR61 million in the same period in 2025. The change was primarily driven by non-cash items.
Net profit for the third quarter of 2026 was EUR74 million, or EUR1.13 per basic share and EUR1.08 per diluted share, compared to a net loss of EUR61 million, or EUR1.00 per basic and diluted share, for the same period in 2025.
Cash flows from operating activities for the nine months ended September 30, 2026, were EUR463 million compared to EUR20 million used in operating activities during the same period in 2025. The improvement was primarily attributable to commercial revenue growth and net proceeds from the sale of the PRV of EUR158 million (net of transaction costs), partially offset by less favorable changes in working capital of approximately EUR15 million and higher interest and income taxes paid.
As of September 30, 2026, Ascendis Pharma had 66,400,738 ordinary shares outstanding, of which 805,528 were held as treasury shares.
For the third quarter of 2026, non-IFRS operating profit was EUR156 million*, compared to a non-IFRS operating profit of EUR42 million* for the same period in 2025.
For the third quarter of 2026, non-IFRS net profit was EUR117 million*, or EUR1.71 earnings per diluted share*, compared to a non-IFRS net profit of EUR24 million*, or EUR0.40 earnings per diluted share*, for the same period in 2025.
Conference Call and Webcast Information
Ascendis Pharma will host a conference call and webcast today at 8:00 a.m. Eastern Time (ET) to discuss its third quarter 2026 financial results. Those who would like to participate may access the live webcast here, or register in advance for the teleconference here. The link to the live webcast will also be available on the Investors & News section of the Ascendis Pharma website at https://investors.ascendispharma.com. A replay of the webcast will be available in this section of the Ascendis Pharma website shortly after the conclusion of the event for 30 days.
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, results, 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) anticipated timing of regulatory decisions and potential product launches, (ii) anticipated timing and plans of clinical trials and development activities, including expected timing of patient recruitment, trial initiation, completion of enrollment and availability of topline data, (iii) Ascendis' ability to apply its TransCon technology platform to make a meaningful difference for patients, (iv) Ascendis' use of TransCon to create new and potentially best-in-class therapies, (v) plans for regulatory filings, label expansions, new country launches and early access programs, (vi) expectations regarding continued patient demand, product uptake, reimbursement coverage, revenue from markets outside the U.S. and EU, future growth and market positioning, and (vii) Ascendis' capital allocation, including share repurchases, and obligations under its commercial agreements. 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, without limitation: dependence on third party manufacturers, distributors, and service providers for Ascendis' products and product candidates; risks related to regulatory review and approval, including the possibility of delays, requests for additional data or analyses, restrictions or limitations on use, approval with labeling that is more limited than expected, or failure to obtain approval in the United States, European Union, or other jurisdictions; clinical development risks, including that results from ongoing or future trials may not confirm earlier data; unforeseen safety or efficacy findings in development programs or on market products; manufacturing, supply chain, quality, or logistics issues that could delay development or commercialization; unforeseen expenses related to commercialization of any approved Ascendis products; unforeseen research and development or selling, general and administrative expenses and other costs impacting Ascendis' business generally; market acceptance, pricing, and reimbursement challenges, including payer coverage decisions and health technology assessments; competitive developments, including new or improved therapies; intellectual property protection, freedom-to-operate, and litigation risks; Ascendis' ability to obtain additional funding, if needed, to support its business activities; cybersecurity, data privacy, and information technology disruptions; and the impact of international economic, political, legal, compliance, public health, and business factors, including tariffs, trade policies, currency fluctuations, and geopolitical events. 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, the company logo, TransCon, SKYTROFA(R) , YORVIPATH(R) , and YUVIWEL(R) are trademarks owned by the Ascendis Pharma group. (c) November 2026 Ascendis Pharma A/S.
Investor Contact: Media Contact: ----------------- ----------------- Chad Fugere Melinda Baker Ascendis Pharma Ascendis Pharma +1 (650) 519-7494 +1 (650) 709-8875
FINANCIAL TABLES FOLLOW
Ascendis Pharma
A/S Unaudited
Condensed
Consolidated
Statements of
Profit or (Loss)
and Comprehensive
Income / (Loss)
(In EUR'000s,
except per share Three Months Ended Nine Months Ended
data) September 30, September 30,
-------------------- ----------------------
2026 2025 2026 2025
--------- --------- --------- -----------
Consolidated Statement of Profit or (Loss)
Revenue 369,657 213,634 955,543 472,632
Cost of sales (28,311) (22,354) (73,484) (71,317)
-------- -------- -------- --------
Gross profit 341,346 191,280 882,059 401,315
Research and
development
expenses (69,925) (66,879) (204,857) (225,470)
Selling, general,
and
administrative
expenses (146,845) (113,404) (465,416) (322,012)
-------- -------- -------- --------
Total operating
expenses (216,770) (180,283) (670,273) (547,482)
Other operating
income -- -- 158,067 --
-------- -------- -------- --------
Operating
profit/(loss) 124,576 10,997 369,853 (146,167)
Share of
profit/(loss) of
associates (6,868) (7,501) (13,283) 14,980
Finance income 7,706 6,036 16,998 89,948
Finance expenses (12,043) (66,904) (78,280) (144,707)
-------- -------- -------- --------
Profit/(loss)
before tax 113,371 (57,372) 295,288 (185,946)
Income taxes
(expenses) (39,398) (3,617) 614,995 (8,526)
-------- -------- -------- --------
Net profit/(loss)
for the period 73,973 (60,989) 910,283 (194,472)
======== ======== ======== ========
Attributable to
owners of the
Company 73,973 (60,989) 910,283 (194,472)
-------- -------- -------- --------
Basic
earnings/(loss)
per share 1.13 (1.00) 14.24 (3.22)
Diluted
earnings/(loss)
per share 1.08 (1.00) 13.63 (3.22)
-------- -------- -------- --------
Consolidated Statement of Comprehensive Income or
(Loss)
Net profit/(loss)
for the period 73,973 (60,989) 910,283 (194,472)
Other comprehensive income/(loss)
Items that may be reclassified subsequently to profit
or (loss):
Exchange
differences on
translating
foreign
operations 3,383 (1,574) 11,299 (3,048)
-------- -------- -------- --------
Other
comprehensive
income/(loss) for
the period, net
of tax 3,383 (1,574) 11,299 (3,048)
-------- -------- -------- --------
Total
comprehensive
income/(loss) for
the period, net
of tax 77,356 (62,563) 921,582 (197,520)
======== ======== ======== ========
Attributable to
owners of the
Company 77,356 (62,563) 921,582 (197,520)
-------- -------- -------- --------
Ascendis Pharma A/S Unaudited Condensed
Consolidated Statements of Financial September 30, December 31,
Position (In EUR'000s) 2026 2025
------------- --------------
Assets
Non-current assets
Intangible assets 3,657 3,710
Property, plant and equipment 134,935 146,479
Investments in associates 24,107 32,526
Other receivables 25,640 10,870
Deferred tax assets 651,891 --
840,230 193,585
------------- -----------
Current assets
Inventories 331,347 301,533
Trade receivables 225,839 141,333
Income tax receivables 11,893 1,781
Other receivables 16,684 14,582
Prepayments 36,827 33,715
Cash and cash equivalents 964,364 616,041
------------- -----------
1,586,954 1,108,985
------------- -----------
Total assets 2,427,184 1,302,570
============= ===========
Equity and liabilities
Equity
Share capital 8,914 8,322
Distributable equity 1,491,537 (171,143)
------------- -----------
Total equity 1,500,451 (162,821)
------------- -----------
Non-current liabilities
Borrowings 377,653 385,254
Contract liabilities -- 1,123
Deferred tax liabilities -- 9,623
------------- -----------
377,653 396,000
------------- -----------
Current liabilities
Convertible notes
Borrowings -- 429,391
Derivative liabilities -- 256,231
------------- -----------
-- 685,622
Other current liabilities
Borrowings 70,152 57,141
Contract liabilities 3,893 4,944
Trade payables and accrued expenses 109,716 90,657
Other liabilities 87,518 58,204
Income tax payables 12,635 6,427
Provisions 265,166 166,396
------------- -----------
549,080 383,769
------------- -----------
Total current liabilities 549,080 1,069,391
------------- -----------
Total liabilities 926,733 1,465,391
------------- -----------
Total equity and liabilities 2,427,184 1,302,570
============= ===========
Ascendis Pharma A/S Unaudited Condensed
Consolidated Statements of Cash Flows (In Nine Months Ended
EUR'000s) September 30,
----------------------
2026 2025
--------- -----------
Operating activities
Net profit/(loss) for the period 910,283 (194,472)
Reversal of finance income (16,998) (89,948)
Reversal of finance expenses 78,280 144,707
Reversal of (gain)/loss on disposal of
property, plant and equipment 21 --
Reversal of income taxes (614,995) 8,526
Adjustments for non-cash items:
Non-cash consideration relating to revenue (3,581) (3,002)
Share of (profit)/loss of associates 13,283 (14,980)
Share-based payment 91,110 86,216
Depreciation and amortization 13,431 12,872
Impairment of property, plant and equipment -- 7,508
Changes in working capital:
Inventories (29,819) (6,421)
Receivables (79,363) 25,138
Prepayments (2,839) (1,730)
Contract liabilities (2,174) (1,084)
Trade payables, accrued expenses and other
liabilities 36,408 (33,088)
Provisions 93,441 48,288
-------- --------
Cash flows generated from/(used in) operations 486,488 (11,470)
Finance income received 16,997 10,929
Finance expenses paid (24,418) (12,652)
Income taxes received/(paid) (16,313) (6,308)
-------- --------
Cash flows from/(used in) operating activities 462,754 (19,501)
-------- --------
Investing activities
Payments received under finance leases 2,003 --
Acquisition of intangible assets and property,
plant and equipment (13,711) (5,094)
Cash flows from/(used in) investing activities (11,708) (5,094)
-------- --------
Financing activities
Repayment of borrowings (25,746) (15,124)
Proceeds from exercise of warrants 73,069 71,727
Costs of capital increase (125) --
Acquisition of treasury shares (155,843) (17,396)
Payment of withholding taxes under stock
incentive programs (12,781) (11,396)
-------- --------
Cash flows from/(used in) financing activities (121,426) 27,811
-------- --------
Increase/(decrease) in cash and cash equivalents 329,620 3,216
Cash and cash equivalents at January 1 616,041 559,543
Effect of exchange rate changes on balances held
in foreign currencies 18,703 (23,667)
-------- --------
Cash and cash equivalents at September 30 964,364 539,092
-------- --------
Non-IFRS Financial Measures
In addition to the financial information prepared in accordance with IFRS Accounting Standards ("IFRS") as issued by the International Accounting Standards Board and as adopted by the European Union, this press release contains certain non-IFRS financial measures, including Non-IFRS Operating Profit/(Loss), Non-IFRS Net Profit/(Loss), Non-IFRS operating profit/(loss) margin, and Non-IFRS diluted earnings per share ("Non-IFRS Diluted EPS"). These non-IFRS measures are provided as supplemental information and should be considered in addition to, and not as a substitute for or superior to, the comparable measures prepared in accordance with IFRS. Management believes these non-IFRS measures support management's, analysts' and investors' overall understanding of the Company's underlying financial performance and trends and facilitate comparisons among current and past periods.
Since non-IFRS measures do not have standardized definitions and meanings, they may differ from the non-IFRS measures used by other companies, which reduces their usefulness as comparative financial measures. Because of these limitations, you should consider these adjusted financial measures alongside other IFRS financial measures. Because these non-IFRS measures are not prepared in accordance with IFRS, they should not be viewed as superior to IFRS reported measures, nor should they be used on their own or as replacements for the IFRS financial information included in this press release. Additionally, our non-IFRS measures may differ from similarly labeled measures used by other companies due to variations in calculation methods or the size and nature of adjusted items. Investors should note that several of the items excluded from these non-IFRS measures have been recognized in prior periods and may continue to be recognized in future periods.
The Company reports Non-IFRS Operating Profit/(Loss), Non-IFRS Net Profit/(Loss), Non-IFRS operating profit/(loss) margin and Non-IFRS Diluted EPS as non-IFRS measures, which exclude the following specified items:
(i) Share-based compensation costs. Although share-based compensation is a recurring expense, the Company excludes it from non-IFRS measures because the amount and timing of recognition depend on the value of the underlying equity instruments, which can fluctuate based on factors unrelated to the Company's operating performance during the period.
(ii) Other operating income from sale of PRV. The Company excludes income recognized from the sale of its PRV because it does not reflect the Company's ongoing operating activities.
(iii) Share of (profit)/loss of associates. The Company excludes its share of the profit or loss of equity-method investees because these amounts are not within the control of the Company and do not reflect the Company's core operating performance.
(iv) Remeasurement (gain)/loss of derivative liabilities. The Company excludes the fair-value remeasurement of derivative liabilities associated with its convertible notes because these amounts depend on movements in the Company's share price and other market inputs and are not indicative of the Company's underlying operating performance.
(v) Remeasurement (gain)/loss of royalty funding liabilities. The Company excludes gains and losses arising from the remeasurement of royalty funding liabilities as these amounts are driven by changes in estimates of future royalty payment obligations under the Company's royalty funding agreements and do not reflect the Company's underlying operating performance.
(vi) Recognition of previously unrecognized deferred tax assets and prior-period tax adjustments. The Company excludes the recognition of previously unrecognized deferred tax assets, and current and deferred tax adjustments relating to prior periods because these items reflect a reassessment of the recoverability of historical tax attributes or adjustments of prior-period tax positions rather than the Company's current period operating performance.
Income taxes related to the foregoing items are adjusted accordingly, considering the individual impact of each item, the relevant tax jurisdiction, applicable tax rates, and the deductibility of the item.
For further details regarding valuation of derivative liabilities, and the recognition of previously unrecognized deferred tax assets, please refer to "Note 3 -- Significant Accounting Judgments and Estimates," and "Note 11 -- Financial Assets and Liabilities," contained in our Interim Report on Form 6-K for the period ended September 30, 2026, and "Note 3 -- Significant Accounting Judgments and Estimates," contained in our Annual Report on Form 20-F for the year ended December 31, 2025.
The following table provides a reconciliation of the most directly comparable IFRS measures to Non-IFRS Operating Profit/(Loss), Non-IFRS operating profit/(loss) margin, Non-IFRS Net Profit/(Loss) and Non-IFRS Diluted EPS.
Reconciliation of unaudited IFRS to Non-IFRS Financial
Information
(In EUR'000s, except number of shares and per share
data)
Three Months Ended Nine Months Ended
September 30, September 30,
2026 2025 2026 2025
-------------- -------------- -------------- --------------
IFRS operating
profit/(loss) 124,576 10,997 369,853 (146,167)
Share-based
compensation
costs 31,146 30,636 91,110 86,216
Other operating
income from
sale of PRV -- -- (158,067) --
---------- ---------- ---------- ----------
Total non-IFRS
adjustments to
operating
profit/(loss) 31,146 30,636 (66,957) 86,216
---------- ---------- ---------- ----------
Non-IFRS operating
profit/(loss) 155,722 41,633 302,896 (59,951)
========== ========== ========== ==========
IFRS operating
profit/(loss)
margin (%)(1) 33.7% 5.1% 38.7% (30.9%)
Non-IFRS operating
profit/(loss)
margin (%)(1) 42.1% 19.5% 31.7% (12.7%)
IFRS Net
profit/(loss) 73,973 (60,989) 910,283 (194,472)
Share-based
compensation
costs 31,146 30,636 91,110 86,216
Other operating
income from
sale of PRV -- -- (158,067) --
Share of
(profit)/loss
of associates 6,868 7,501 13,283 (14,980)
Remeasurement
(gain)/loss of
derivative
liabilities -- 47,183 25,938 83,091
Remeasurement
(gain)/loss of
royalty
funding
liabilities -- -- -- (1,398)
Recognition of
previously
unrecognized
deferred tax
assets and
prior-period
tax
adjustments 9,304 20 (696,115) 11
Tax effects of
adjustments (4,048) -- 22,779 --
---------- ---------- ---------- ----------
Total non-IFRS
adjustments to net
profit/(loss) 43,270 85,340 (701,072) 152,940
---------- ---------- ---------- ----------
Non-IFRS net
profit/(loss) 117,243 24,351 209,211 (41,532)
========== ========== ========== ==========
Net profit/(loss) per diluted share:
IFRS 1.08 (1.00) 13.63 (3.22)
Diluted per
share impact of
total non-IFRS
adjustments 0.63 1.40 (10.50) 2.53
Non-IFRS 1.71 0.40 3.13 (0.69)
Shares used in
diluted per share
calculation (IFRS
and non-IFRS): 68,709,423 60,756,015 66,781,342 60,412,419
1Defined as either IFRS or non-IFRS operating profit/(loss) divided by total revenue.
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