Ascendis Pharma: Initial Yuviwel prescriber survey shows promising early trends; Reit. Buy

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Ascendis Pharma: Initial Yuviwel prescriber survey shows promising early trends; Reit. Buy

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Ascendis Pharma

Initial Yuviwel prescriber survey shows

promising early trends; Reit. Buy

Reiterate Rating: BUY | PO: 306.00 USD | Price: 265.22 USD

Survey shows 10% Yuviwel share <6 months into launch 14 July 2026

We surveyed 17 physicians who treat 152 pediatric achondroplasia patients. Although <6 Equity

months from the Apr launch (late-Feb approval), we think the data are a directional guide

of Yuviwel’s (Yuvi) progress. Our results are in line with our expectations and physician

feedback (see physician call note), citing differentiation based on weekly dosing and

share coming mainly from Voxzogo. Notably, 8 physicians reported writing 15 Yuvi

scripts (1Q: 5, 2Q: 10), representing 10% of their patients, and they expect another 35

scripts over the next 12 months. There have been no payor denials so far. We think the

early script data, future use expectations, and payor reimbursement are encouraging this

early into the launch (see inside for more). On the 1Q call, ASND reported >60 Yuvi start TazeenResearchAhmadAnalyst

forms from >35 unique prescribers. On the 2Q call, we look for color on the pace of BofAS

tazeen.ahmad@bofa.com

additional start forms and on timelines from script written to payor reimbursement. We

currently model €2mn in Yuviwel 2Q26 revenues (cons: €4.6mn) and €46mn in FY26 DanielResearchGiraldoAnalyst

sales (cons: €42mn). We reiterate our Buy rating with $306 PO and highlight the biggest BofAS

contributor to our ASND SOTP model remains Yorvipath (see Yorvipath survey). Jeremiah Lorentz

Research Analyst

Yuviwel growth expected to come from Voxzogo switches BofAS Wesley Yon