Ascendis Pharma (ASND) announced that its board of directors has authorized the company to use approximately $25M to fund a share repurchase program and net settle certain RSUs. The board of directors has authorized the company to repurchase up to $18.25M of the company’s American depositary shares, each of which represents one ordinary share of Ascendis Pharma. The company plans to execute the repurchases in compliance with Rules 10b-18 and 10b5-1 of U.S. securities regulations. In addition, the company plans to apply net settlement of the tax-withholding obligation in certain jurisdictions related to the vesting of approximately 450,000 RSUs for a total cash amount of approximately $9M preserving approximately 75,000 ADSs held as treasury shares. Together, the share repurchase program and the net settlement of RSUs are intended to preserve approximately 200,000 ADSs held as treasury shares.
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