0001193125-22-062998 | 20-F | XBRL Viewer

Financial Risk Management and Financial Instruments

12 Months Ended

Dec. 31, 2021

Financial Risk Management and Financial Instruments

Note 17—Financial Risk Management and Financial Instruments

Financial assets and financial liabilities comprise the following:


	2021		2020

	(EUR’000)
Financial assets
Trade receivables		2,200		387
Other receivables		12,276		2,251
Marketable securities		343,358		249,558
Cash and cash equivalents		446,267		584,517

Financial assets measured at amortized cost		804,101		836,713

Financial liabilities
Lease liabilities		104,961		91,975
Trade payables and accrued expenses		59,417		21,897

Financial liabilities measured at amortized cost		164,378		113,872

Finance income and expenses are specified below:


	2021		2020		2019

	(EUR’000)
Finance income
Interest income		692		1,812		10,056
Exchange rate gains		59,026		—		7,747

Total finance income		59,718		1,812		17,803

Finance expenses
Interest expenses		3,911		1,918		1,221
Exchange rate losses		—		78,924		—

Total finance expenses		3,911		80,842		1,221

Interest income and interest expenses relate to financial assets and liabilities measured at amortized cost. Exchange rate

gains

and

losses primarily relate to U.S. Dollar/Euro fluctuations pertaining to the Company’s, cash, cash equivalents and marketable securities.

Capital Management

The Company manages capital to ensure that all group enterprises will be able to continue as going concerns while maximizing the return to shareholders through the optimization of debt and equity balances. The overall strategy in this regard has remained unchanged since 2012.

Capital Structure

The Company’s capital structure consists only of equity comprising issued capital, reserves and retained earnings/accumulated deficits. Although the Company is not subject to any externally imposed capital requirements, the capital structure is reviewed on an ongoing basis. Since the Company does not hold external debt, such review currently comprises a review of the adequacy of the Company’s capital compared to the resources required for carrying out ordinary activities.

Development in the Company’s share capital and treasury shares reserves are described in the following sections. Other equity reserves are described in Note 2 “Summary of Significant Accounting Policies”.

Share Capital

The share capital of Ascendis Pharma A/S consists of 56,937,682 fully paid shares at a nominal value of DKK 1, all in the same share class.

The number of outstanding shares of the Company are as follows:


	2021		2020		2019		2018		2017
Changes in share capital
At January 1		53,750,386		47,985,837		42,135,448		36,984,292		32,421,121
Increase through cash contributions		3,187,296		5,764,549		5,850,389		5,151,156		4,563,171

At December 31		56,937,682		53,750,386		47,985,837		42,135,448		36,984,292

Treasury Shares Reserve

On September 29, 2021, the Company’s Board of Directors authorized the Company to repurchase up to $25 million of the Company’s ADSs, each of which represents one ordinary share of Ascendis Pharma A/S (the “Share Repurchase Program”). The program was executed under Rules

10b-18

and

10b5-1

of the U.S. securities regulations. The purpose of the Share Repurchase Program allowed the Company to acquire ADSs needed in connection with the Company’s RSU Program, without any obligation to acquire any particular amount of ADSs. The Company’s Share Repurchase Program was funded through existing cash

deposits and ended on November 9, 2021.

The holding of treasury shares are as follows:


	Nominal value		Holding		Holding in % of total outstanding shares

	(EUR’000)		(Number)
Treasury shares
At January 1, 2021		—		—		—
Acquired from third-parties		21		154,837		—

At December 31, 2021		21		154,837		0.3%

Financial Risk Management Objectives

The Company regularly monitors the access to domestic and international financial markets, manages the financial risks relating to its operations, and analyze exposures to risk, including market risk, such as foreign currency risk and interest rate risk, credit risk and liquidity risk.

The Company’s financial risk exposure and risk management policies are described in the following sections.

Market Risk

The Company’s activities expose the group enterprises to the financial risks of changes in foreign currency exchange rates and interest rates. Derivative financial instruments are not applied to manage exposure to such risks.

Foreign Currency Risk Management

The Company is exposed to foreign currency exchange risks arising from various currency exposures, primarily with respect to the U.S. Dollar (“USD”), the British Pound (“GBP”)

and

the Danish Krone (“DKK”). There is an official target zone of 4.50% between DKK and EUR, which limits the likelihood of significant fluctuations between those two currencies in a short timeframe.

Foreign currency exchange risks are unchanged to prior year, and primarily relate to purchases in foreign currencies, and cash, cash equivalents and marketable securities, denominated in USD. The exposure from foreign currency exchange risks is managed by maintaining cash positions in the currencies in which the majority of future expenses are denominated, and payments are made from those reserves.

Foreign Currency Sensitivity Analysis

The following table details how a strengthening of the USD and the GBP would impact profit and loss and equity before tax at the reporting date. A similar weakening of the USD and the GBP would have the opposite effect with similar amounts. A positive number indicates an increase in profit or loss and equity before tax, while a negative number indicates the opposite. The sensitivity analysis is deemed representative of the inherent foreign currency exchange risk associated with the operations.


	Nominal positions (net)		Hypothetical impact on consolidated financial statements
	Nominal positions (net)		Increase in foreign currency exchange rate		Profit and loss before tax		Equity before tax

	(EUR ‘000)
December 31, 2021
USD/EUR		549,243		10%		54,924		54,924
GBP/EUR		6,686		10%		669		669
December 31, 2020
USD/EUR		797,927		10%		79,793		79,793
GBP/EUR		1,555		10%		155		155

Interest Rate Risk Management

The Company has no interest-bearing debt to third parties. In addition, since the Company holds no derivatives or financial assets and liabilities measured at fair value, the exposure to interest rate risk primarily relates to the interest rates for cash, cash equivalents and marketable securities. Future interest income from interest-bearing bank deposits and marketable securities may fall short of expectations due to changes in interest rates.

Rate structure of marketable securities are specified below:


	December 31, 2021				December 31, 2020
	Carrying amount		Fair value		Carrying amount		Fair value

	(EUR’000)
Marketable securities specified by rate structure
Fixed rate		323,176		322,556		175,757		175,732
Floating rate		17,975		17,968		16,975		16,972
Zero-coupon		2,207		2,207		56,826		56,826

Total marketable securities		343,358		342,731		249,558		249,530

The effects of interest rate fluctuations are not considered a material risk to the Company’s financial position. Accordingly, no interest sensitivity analysis has been presented.

Credit Risk Management

The Company has adopted an investment policy with the primary purpose of preserving capital, fulfilling liquidity needs and diversifying the risks associated with cash, cash equivalents and marketable securities. This investment policy establishes minimum ratings for institutions with which the Company holds cash, cash equivalents and marketable securities, as well as rating and concentration limits for marketable securities held.

All material counterparties are considered creditworthy. While the concentration of credit risk may be significant, the credit risk for each individual counterpart is considered to be low. The exposure to credit risk primarily relates to cash, cash equivalents, and marketable securities. The credit risk on bank deposits is limited because the counterparties, holding significant deposits, are banks with high credit-ratings (minimum

A3/A-)

assigned by international credit-rating agencies. The banks are reviewed on a regular basis and deposits may be transferred during the year to mitigate credit risk. In order to mitigate the concentration of credit risks on bank deposits and to preserve capital, a portion of the bank deposits have been placed into primarily U.S. government bonds, treasury bills, corporate bonds, and commercial papers. The Company’s investment policy, approved by the Board of Directors, only allows investment in marketable securities having investment grade credit-ratings, assigned by international credit-rating agencies. Accordingly, the risk from probability of default is low. On each reporting date, the Company considers the risk of expected credit loss on bank deposits and marketable securities, including the hypothetical impact arising from the probability of default, which is considered in conjunction with the expected loss caused by default by banks or securities with similar credit-ratings and attributes. In line with previous periods, this assessment did not reveal a material impairment loss, and accordingly no provision for expected credit loss has been recognized.

Marketable securities specified by investment grade credit rating are specified below:


	December 31, 2021				December 31, 2020
	Carrying amount		Fair value		Carrying amount		Fair value

	(EUR’000)
Marketable securities specified by investment grade credit rating
Prime		—		—		7,716		7,714
High grade		144,307		144,030		142,339		142,352
Upper medium grade		196,909		196,566		99,503		99,464
Lower medium grade		2,142		2,135		—		—

Total marketable securities		343,358		342,731		249,558		249,530

At the reporting dates, there are no significant overdue trade receivable balances. As a result, write-down to accommodate expected credit-losses is not deemed material.

Liquidity Risk Management

Historically, the risk of insufficient funds has been addressed through proceeds from sale of the Company’s securities in private and public offerings.

Liquidity risk is managed by maintaining adequate cash reserves and banking facilities, and by matching the maturity profiles of marketable securities with cash-forecasts. The risk of shortage of funds is monitored, using a liquidity planning tool, to ensure sufficient funds are available to settle liabilities as they fall due.

Besides marketable securities and deposits, the Company’s financial assets are recoverable within twelve months after the reporting date. The composition of the marketable securities portfolio and its fair values are specified in the following table.


	December 31, 2021				December 31, 2020
	Carrying amount		Fair value		Carrying amount		Fair value

	(EUR’000)
Marketable securities specified by security type
U.S. Treasury bills		—		—		46,243		46,245
U.S. Government bonds		95,408		95,211		62,088		62,101
Commercial papers		2,207		2,207		10,583		10,581
Corporate bonds		226,771		226,379		121,282		121,234
Agency bonds		18,972		18,934		9,362		9,369

Total marketable securities		343,358		342,731		249,558		249,530

Classified based on maturity profiles
Non-current assets		107,561		107,175		115,280		115,277
Current assets		235,797		235,556		134,278		134,253

Total marketable securities		343,358		342,731		249,558		249,530

Fair values are based on quoted market prices or for marketable securities with short-term and infrequent market trades on mathematical calculations applying observable inputs (Level 1 or 2 in the fair value hierarchy).

Marketable securities have a weighted average duration of 5.8 and 16.7 months, for current (i.e., those maturing within twelve months after the reporting date) and

non-current

positions, respectively. The entire portfolio of marketable securities (current and

non-current)

has a weighted average duration of 9.2 months.

Maturity analysis

Maturity analysis for financial liabilities recognized in the consolidated statements of financial position are specified below.


	< 1 year		1-5 years		>5 years		Total contractual cash-flows		Carrying amount

	(EUR’000)
December 31, 2021
Lease liabilities		7,098		51,442		68,378		126,918		104,961
Trade payables and accrued expenses		59,417		—		—		59,417		59,417

Total financial liabilities		66,515		51,442		68,378		186,335		164,378


	< 1 year		1-5 years		>5 years		Total contractual cash-flows		Carrying amount

	(EUR’000)
December 31, 2020
Lease liabilities		6,974		38,321		68,516		113,811		91,975
Trade payables and accrued expenses		21,897		—		—		21,897		21,897

Total financial liabilities		28,871		38,321		68,516		135,708		113,872

Ownership

12 Months Ended

Dec. 31, 2021

Text block [abstract]

Ownership

Note 20—Ownership

The following investors, or groups of affiliated investors, are known by us to beneficially own more than 5% of the Company’s outstanding ordinary shares at December 31, 2021:

•

T. Rowe Price Associates, Inc., USA

•

Entities affiliated with RA Capital Management, LLC, USA

•

Entities affiliated with Artisan Partners Limited Partnership, USA

•

Entities affiliated with FMR LLC, USA

•

Baker Bros. Advisors LP, USA

•

Entities affiliated with Wellington Management Group LLP, USA

•

Entities affiliated with Janus Henderson Group plc, United Kingdom

The Company’s American Depository Shares are held through BNY (Nominees) Limited as nominee, of The Bank of New York Mellon, UK (as registered holder of the Company’s outstanding ADSs).

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Text block [abstract]

Changes in Accounting Policies and Disclosures

Several amendments to and interpretations of IFRS applied for the first time in 2021, which has not had an impact on the accounting policies applied by the Company. Thus, the accounting policies applied when preparing these consolidated financial statements have been applied consistently to all the periods presented.

Basis of Consolidation

The consolidated financial statements include the parent company, Ascendis Pharma A/S, and all enterprises over which the parent company has control. Control of an enterprise exists when the Company has exposure, or rights to, variable returns from its involvement with the enterprise and has the ability to control those returns through its power over the enterprise. Accordingly, the consolidated financial statements include Ascendis Pharma A/S and the subsidiaries listed in Note 19 “Investment in Group Enterprises”.

Consolidation Principles

Subsidiaries, which are enterprises the Company control at the reporting date, are fully consolidated from the date upon which control is transferred to the Company. They are deconsolidated from the date control ceases.

Control over an enterprise is reassessed if facts and circumstances indicate that there are changes to one or more of the three elements of control, respectively:

•

The contractual arrangement(s) with the other vote holders of the enterprise;

•

The Company’s voting rights and potential voting rights; and

•

Rights arising from other contractual arrangements.

All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between group enterprises are eliminated in full on consolidation.

Subsidiaries apply accounting policies in line with the Company’s accounting policies. When necessary, adjustments are made to bring the entities’ accounting policies in line with those of the Company.

Investment in Associates

An associate is an entity over which the Company has significant influence over financial and operational decisions but without having control or joint control. The Company’s associate is accounted for using the equity method. Under the equity method, the associate is initially recognized at cost. Thereafter, the carrying amount of the investment is adjusted to recognize changes in the Company’s share of net assets of the associate since the acquisition or establishment date.

The consolidated statements of profit or loss include the Company’s share of result after tax of the associate after any adjustments made to bring the associates accounting policies in line with those of the Company. Transactions between the associate and the Company are eliminated proportionally according to the Company’s interest in the associate. Unrealized gains and losses resulting from transactions between the Company and its associate is eliminated to the extent of the Company’s interest in the associate.

On each reporting date, the Company determines whether there is objective evidence that the associate is impaired. If there is such evidence, the amount of impairment is calculated as the difference between the recoverable amount of the associate and its carrying amount. Any impairment loss is recognized in the consolidated statements of profit or loss.

Prepayments

Prepayments comprise advance payments relating to a future financial period. Prepayments are measured at cost.

Allowance for Expected Credit Losses on Financial Assets

Financial assets comprise receivables (excluding receivables relating to VAT, other indirect tax and income tax), marketable securities and cash and cash equivalents. Impairment of financial assets is determined on the basis of a forward-looking Expected Credit Loss (“ECL”) Model. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and the cash flows expected to be received, discounted by an approximation of the original effective interest rate.

For receivables, a simplified approach in calculating ECLs is applied. Therefore, changes in credit risks are not tracked, but instead, a loss allowance based on lifetime ECL is assessed at each reporting date. Lifetime ECLs are assessed on historical credit loss experience, adjusted for forward-looking factors specific to the counterparts and the economic environment.

For cash, cash equivalents and marketable securities, ECLs are assessed for credit losses that result from default events that are possible within the next twelve months (12-month ECL). Credit risk is continuously tracked and monitored in order to identify significant deterioration. For those credit exposures for which there have been a significant increase in credit risk since initial recognition, an allowance is recognized for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default.

Shareholders' Equity

Shareholders’ Equity

The share capital comprises the nominal amount of the parent company’s ordinary shares, each at a nominal value of DKK 1, or approximately €0.13. All shares are fully paid.

Share premium comprises the amounts received, attributable to shareholders’ equity, in excess of the nominal amount of the shares issued at the parent company’s capital increases, reduced by any expenses directly attributable to the capital increases. Under Danish legislation, share premium is an unrestricted reserve that is available to be distributed as dividends to a company’s shareholders. Also, under Danish legislation, the share premium reserve can be used to offset accumulated deficits.

Treasury shares reserve comprise own equity instrument which are recognized at cost and included within equity. No gain or loss is recognized in profit or loss on the purchase, sale, transfer or cancellation of the Company’s own equity instruments. The treasury shares reserve is part of unrestricted reserves and accordingly, reduce the amount available to be distributed as dividends to the Company’s shareholders.

Foreign currency translation reserve includes exchange rate adjustments relating to the translation of the results and net assets of foreign operations from their functional currencies to the presentation currency. The accumulated reserve of a foreign operation is reclassified to the consolidated statement of profit or loss at the time the Company loses control, and thus cease to consolidate such foreign operation. The foreign currency translation reserve is an unrestricted reserve that is available to be distributed as dividends to the Company’s shareholders.

Share-based payment reserve represents the corresponding entries to the share-based payment recognized in the consolidated statement of profit or loss, arising from warrant programs and restricted stock units programs. The share-based payments reserve is an unrestricted reserve that is available to be distributed as dividends to the Company’s shareholders.

Retained earnings/(accumulated deficit) represents the accumulated profits or losses from the Company’s operations. A positive reserve is available to be distributed as dividends to the Company’s shareholders.

Other Liabilities

Other liabilities comprise payables to public authorities, short-term employee benefits, and sales rebates. Other liabilities are measured at their

net-realizable

values.

Contract Liabilities

Contract liabilities comprise deferred income from collaboration and license agreements, where consideration received does not match the individual deliverables with respect to amount and satisfied performance obligations.

Contract liabilities

are

measured at the fair value of the consideration received and is recognized as revenue in the consolidated statement of profit or loss when the relevant performance obligation, to which the deferred income relates, is satisfied.

Diluted EPS

Diluted Earnings per Share

Diluted EPS is calculated as the consolidated net income or loss from continuing operations for the period divided by the weighted average number of ordinary shares outstanding adjusted for the weighted average effect of changes in treasury shares during the year, and the dilutive effect of outstanding warrants. If the consolidated statement of profit or loss shows a net loss, no adjustment is made for the dilutive effect, as such effect would be anti-dilutive.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

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Schedule of Asset's Expected Useful Life

Depreciation is calculated on a straight-line basis, based on an asset’s expected useful life, being within the following ranges:


Process plant and machinery			5 - 10 years
Other equipment			3 - 5 years
Leasehold improvements			3 - 11 years
Right-of-use assets			2 - 11 years

Revenue (Tables)

12 Months Ended

Dec. 31, 2021

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Schedule of Revenue Recognized in Consolidated Statement of Profit or Loss

Revenue has been recognized in the consolidated statements of profit or loss with the following amounts:


	2021		2020		2019

	(EUR’000)
Revenue from external customers
Commercial sale of products		943		—		—
Rendering of services		751		2,140		9,919
Sale of clinical supply		3,719		2,206		804
“Right-to-use” licenses		2,365		2,607		2,652

Total revenue		7,778		6,953		13,375

Attributable to
Commercial customers		943		—		—
Collaboration partners and license agreements (1)		6,835		6,953		13,375

Total revenue		7,778		6,953		13,375

Specified by timing of recognition
Recognized over time		751		2,140		9,919
Recognized at a point in time		7,027		4,813		3,456

Total revenue		7,778		6,953		13,375

Specified per geographical location
North America		6,856		2,679		2,652
China		922		4,274		10,723

Total revenue		7,778		6,953		13,375

(1)

Revenue from collaboration partners and license agreements includes recognition of previously deferred revenue/internal profit from associate of €2.4

million, €3.5

million and €6.5

million for the years ended December 31, 2021, 2020 and 2019, respectively. Revenue from one collaboration partner amounted to 95

% of total revenue from collaboration partners and license agreements.

Employee Cost (Tables)

12 Months Ended

Dec. 31, 2021

Statement [LineItems]

Summary of Employee Cost

Compensation to Key Management Personnel included within total employee costs is summarized below:


	Board of Directors (1)						Executive Board (2)						Non-executive Senior Management
	2021		2020		2019		2021		2020		2019		2021		2020		2019

	(EUR ‘000)
Compensation
Wages and salaries		296		250		265		2,699		2,372		1,815		5,547		5,272		4,706
Share-based payment		2,032		1,913		1,864		8,770		6,359		5,303		14,906		13,912		11,123
Pensions (defined contribution plans)		—		—		—		23		—		—		120		89		54
Social security costs		—		—		—		49		100		94		60		122		84

Total compensation		2,328		2,163		2,129		11,541		8,831		7,212		20,633		19,395		15,967

(1)	The Board of Directors comprised six to seven persons in 2021. At December 31, 2021, the Board of Directors comprised six persons. For 2020 and 2019, the Board of Directors comprised seven persons.

(2)	The Executive Board comprised two to four persons in 2021. At December 31, 2021, the Executive Board comprised four persons. For 2020 and 2019, the Executive Board comprised two persons.

Share-based Payment (Tables)

12 Months Ended

Dec. 31, 2021

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Summary Of Share Based Payment

RSUs were granted for the first time in December 2021. The following table specifies the number of RSUs granted, their fair value at grant date, and outstanding RSUs at December 31, 2021:


	Total RSUs		Fair Value EUR
Outstanding at January 1, 2021		—		—

Granted, December 2021		148,148		123.46

Outstanding at December 31, 2021		148,148		123.46

Vested at the reporting date		—		—

Schedule of Weighted Average Exercise Price and Weighted Remaining Contractual Life for Outstanding Warrants

The following table specifies the weighted average exercise prices and weighted average remaining contractual life for outstanding warrants at December 31, 2021 per grant year.


	Number of Outstanding Warrants		Weighted Average Exercise Price EUR		Weighted Average Remaining Life (months)
Granted in 2012-2017		2,059,718		20.96		53
Granted in 2018		1,209,072		54.52		82
Granted in 2019		1,071,441		97.23		93
Granted in 2020		1,310,094		137.89		104
Granted in 2021		1,434,748		122.03		118

Outstanding at December 31, 2021		7,085,073		80.30		87

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

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Summary of Depreciation Charges

Depreciation charges are specified below:


	2021		2020		2019

	(EUR’000)
Depreciation charges
Cost of sales		252		—		—
Research and development costs		10,102		7,311		5,282
Selling, general and administrative expenses		4,592		2,137		1,406

Total depreciation charges		14,946		9,448		6,688

Inventories (Tables)

12 Months Ended

Dec. 31, 2021

Text block [abstract]

Summary of Inventories Explanatory


	2021

	(EUR’000)
Inventories
Raw materials and consumables		2,248
Work in progress		68,865
Finished goods		4,292

Total inventories		75,405

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Text block [abstract]

Summary of Development In Lease Liabilities

Development in lease liabilities are specified below:


	Beginning of period		Cash payments						Non-cash items							End of period
	Beginning of period		Payment of principal portion of liabilities			Payment of interest			Additions		Accretion of interest		Foreign exchange adjustment			End of period

	(EUR’000)
Lease liabilities
December 31, 2021		91,975		(6,429	)		(1,326	)		10,812		3,396		6,533			104,961

December 31, 2020		36,619		(4,781	)		(1,209	)		64,582		1,617		(4,853	)		91,975

Summary of Expenses, Relating To Lease Activities In The Consolidated Statements

The following expenses relating to lease activities are recognized in the consolidated statements of profit or loss:


	2021		2020		2019

	(EUR’000)
Lease expense
Depreciation		10,963		6,857		5,237
Expenses relating to short term leases and leases of low value assets		186		470		202
Lease interest		3,396		1,617		1,014

Total lease expenses		14,545		8,944		6,453

Financial Risk Management and Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Text block [abstract]

Schedule of Financial Assets and Liabilities

Financial assets and financial liabilities comprise the following:


	2021		2020

	(EUR’000)
Financial assets
Trade receivables		2,200		387
Other receivables		12,276		2,251
Marketable securities		343,358		249,558
Cash and cash equivalents		446,267		584,517

Financial assets measured at amortized cost		804,101		836,713

Financial liabilities
Lease liabilities		104,961		91,975
Trade payables and accrued expenses		59,417		21,897

Financial liabilities measured at amortized cost		164,378		113,872

Summary of Foreign Currency Sensitivity Analysis


	Nominal positions (net)		Hypothetical impact on consolidated financial statements
	Nominal positions (net)		Increase in foreign currency exchange rate		Profit and loss before tax		Equity before tax

	(EUR ‘000)
December 31, 2021
USD/EUR		549,243		10%		54,924		54,924
GBP/EUR		6,686		10%		669		669
December 31, 2020
USD/EUR		797,927		10%		79,793		79,793
GBP/EUR		1,555		10%		155		155

Schedule Of Marketable Securities Specified BY Investment Grade Credit Rating

Marketable securities specified by investment grade credit rating are specified below:


	December 31, 2021				December 31, 2020
	Carrying amount		Fair value		Carrying amount		Fair value

	(EUR’000)
Marketable securities specified by investment grade credit rating
Prime		—		—		7,716		7,714
High grade		144,307		144,030		142,339		142,352
Upper medium grade		196,909		196,566		99,503		99,464
Lower medium grade		2,142		2,135		—		—

Total marketable securities		343,358		342,731		249,558		249,530

Summary of Marketable securities


	December 31, 2021				December 31, 2020
	Carrying amount		Fair value		Carrying amount		Fair value

	(EUR’000)
Marketable securities specified by security type
U.S. Treasury bills		—		—		46,243		46,245
U.S. Government bonds		95,408		95,211		62,088		62,101
Commercial papers		2,207		2,207		10,583		10,581
Corporate bonds		226,771		226,379		121,282		121,234
Agency bonds		18,972		18,934		9,362		9,369

Total marketable securities		343,358		342,731		249,558		249,530

Classified based on maturity profiles
Non-current assets		107,561		107,175		115,280		115,277
Current assets		235,797		235,556		134,278		134,253

Total marketable securities		343,358		342,731		249,558		249,530

Summary of Maturity Analysis For Financial Liabilities

Maturity analysis for financial liabilities recognized in the consolidated statements of financial position are specified below.


	< 1 year		1-5 years		>5 years		Total contractual cash-flows		Carrying amount

	(EUR’000)
December 31, 2021
Lease liabilities		7,098		51,442		68,378		126,918		104,961
Trade payables and accrued expenses		59,417		—		—		59,417		59,417

Total financial liabilities		66,515		51,442		68,378		186,335		164,378


	< 1 year		1-5 years		>5 years		Total contractual cash-flows		Carrying amount

	(EUR’000)
December 31, 2020
Lease liabilities		6,974		38,321		68,516		113,811		91,975
Trade payables and accrued expenses		21,897		—		—		21,897		21,897

Total financial liabilities		28,871		38,321		68,516		135,708		113,872

Employee Cost - Additional Information (Detail) - Employee	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of employee compensation costs [line items]
Number of persons	4	2	2

Share-Based Payment - Additional Information (Detail)	12 Months Ended
Share-Based Payment - Additional Information (Detail)	Dec. 31, 2021 shares
Warrants Granted 2012 Until November 2021 [member]
Statement [LineItems]
Vesting period	24 months
Warrants Granted From December 2021 [member]
Statement [LineItems]
Vesting period	12 months
Board members of group [member]
Statement [LineItems]
Number of additional shares granted	1,316,588
Board members of group [member] \| Warrants Granted From December 2021 [member]
Statement [LineItems]
Percentage of warrants vested	75.00%
Employees and consultants [member] \| Warrants Granted From December 2021 [member]
Statement [LineItems]
Percentage of warrants vested	75.00%

Leases - Summary of Development In Lease Liabilities (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Text block [abstract]
Additions	€ 10,812	€ 64,582

Financial Risk Management and Financial Instruments - Summary of Holding of Treasury Shares (Detail) € in Thousands	12 Months Ended
	Dec. 31, 2021 EUR (€) shares
Disclosure Of Holding Of Treasury Shares [Line Items]
Acquired from third-parties (Nominal value) \| €	€ 21
At January 1, 2021 (Holding)	0
Acquired from third-parties (Holding)	154,837
At December 31, 2021 (Holding)	154,837
At January 1, 2021 (Holding in % of total outstanding shares)	0.00%
Acquired from third-parties (Holding in 1% total outstanding shares)	0.00%
At December 31, 2021 (Holding in % of total outstanding shares)	0.30%

Ownership - Additional Information (Detail)	12 Months Ended
Ownership - Additional Information (Detail)	Dec. 31, 2021
Disclosure of beneficial ownership [line items]
Minimum beneficial ownership percentage	5.00%
Minimum beneficial ownership	Entities affiliated with Janus Henderson Group plc, United Kingdom

Label

Element

Value

Number of other equity instruments vested in share-based payment arrangement

asnd_NumberOfOtherEquityInstrumentsVestedInSharebasedPaymentArrangement

2,705,693

Number of other equity instruments vested in share-based payment arrangement

asnd_NumberOfOtherEquityInstrumentsVestedInSharebasedPaymentArrangement

3,044,827

Number of other equity instruments vested in share-based payment arrangement

asnd_NumberOfOtherEquityInstrumentsVestedInSharebasedPaymentArrangement

4,022,011

Weighted average exercise price of other equity instruments vested in sharebased payment arrangement

asnd_WeightedAverageExercisePriceOfOtherEquityInstrumentsVestedInSharebasedPaymentArrangement

€ 24.93

Weighted average exercise price of other equity instruments vested in sharebased payment arrangement

asnd_WeightedAverageExercisePriceOfOtherEquityInstrumentsVestedInSharebasedPaymentArrangement

37.29

Weighted average exercise price of other equity instruments vested in sharebased payment arrangement

asnd_WeightedAverageExercisePriceOfOtherEquityInstrumentsVestedInSharebasedPaymentArrangement

€ 52.63

Elimination of Internal Profit Recognized

asnd_EliminationOfInternalProfitRecognized

€ 21,110,000

Elimination of Internal Profit Recognized

asnd_EliminationOfInternalProfitRecognized

7,678,000

Additional Tax Deduction

asnd_AdditionalTaxDeduction

4,800,000

Additional Tax Deduction

asnd_AdditionalTaxDeduction

16,300,000

Additional Tax Deduction

asnd_AdditionalTaxDeduction

10,200,000

Share of equity after eliminations

asnd_ShareOfEquityAfterEliminations

38,345,000

Share of equity after eliminations

asnd_ShareOfEquityAfterEliminations

9,176,000

Contractual Undiscounted Cashflow Of Financial Lease Liabilities

asnd_ContractualUndiscountedCashflowOfFinancialLeaseLiabilities

126,918,000

Contractual Undiscounted Cashflow Of Financial Lease Liabilities

asnd_ContractualUndiscountedCashflowOfFinancialLeaseLiabilities

€ 113,811,000

Lease Term

asnd_LeaseTerm

2 years

Lease Term

asnd_LeaseTerm

11 years

Lease Extension Period

asnd_LeaseExtensionPeriod

2 years

Lease Extension Period

asnd_LeaseExtensionPeriod

5 years

Costs of capital increase (decrease)