Why Is Ascendis Pharma Stock Trading Lower on Tuesday?
Ascendis Pharma shares dip as it reclaims TransCon technology rights from Novo Nordisk and initiates a $400 million share repurchase program.
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Ascendis Pharma shares are trading lower after the company announced it will regain the exclusive rights to develop, manufacture, and commercialize TransCon technology-based products in metabolic and cardiovascular diseases, including obesity. Also, Raymond James downgraded the stock from Strong Buy to Outperform.
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