Ascendis Pharma to redeem all $575M convertible notes by May 6, 2026, offering cash or share conversion.

Ascendis Pharma announced it will redeem all $575 million of its 2.25% convertible senior notes due 2028 on May 6, 2026, following a stock price trigger. Holders can convert notes into shares at an increased conversion rate until May 4, 2026, or receive cash equal to principal plus accrued interest on redemption. This move may lead to share dilution if many holders convert, but it allows Ascendis to manage its debt amid favorable stock performance. The company emphasized its ongoing focus on innovative therapies using its TransCon technology platform.