Ascendis Pharma Announces Transition to Direct Nasdaq Listing of Ordinary Shares and Mandatory ADS Exchange

On April 8, 2026, Ascendis Pharma A/S announced its plan to transition from American Depositary Shares (ADSs) to a direct listing of its ordinary shares on The Nasdaq Global Select Market. The transition is expected to be effective at the opening of trading on April 20, 2026. Under the plan, all outstanding ADSs will be mandatorily exchanged for ordinary shares on a one-for-one basis. The last day of trading for ADSs under the ticker symbol 'ASND' is expected to be April 17, 2026, with the ordinary shares commencing trading under the same symbol on the effective date. The Bank of New York Mellon, acting as the Depositary, will manage the surrender and exchange process. For holders using the Depository Trust Company (DTC) or brokers, the exchange will occur automatically. The company noted several risks associated with the transition, including potential liquidity changes, tax consequences for holders, and regulatory clearances required for the listing.