Ascendis jumps on Phase III readout for once-weekly growth hormone

Ascendis gained $51.29 (74%) to $120.60 on Monday after reporting that its TransCon Growth Hormone met the primary endpoint in the Phase III heiGHt trial to treat pediatric growth hormone deficiency. The company plans to submit a BLA to FDA in 1H20 for the once-weekly human growth hormone (hGH) prodrug that uses TransCon prodrug technology for sustained release.

The stock move added more than $2.1 billion to the company's market cap...