0001193125-22-147494 | 6-K | XBRL Viewer

Treasury Shares

3 Months Ended

Mar. 31, 2022

Note 9—Treasury Shares

The holding of treasury shares is specified below:


	Nominal values		Holding		Holding in % of total outstanding shares

	(EUR’000)		(Number)
Treasury shares
At January 1, 2022		21		154,837		0.27	%
Acquired from third-parties		134		1,000,000		—

At March 31, 2022		155		1,154,837		2.03	%

Share-based Payment (Tables)

3 Months Ended

Mar. 31, 2022

Text block [abstract]

Summary Of Share Based Payment

The following table specifies the number of RSUs granted, and outstanding RSUs at March 31, 2022:


	Total RSUs
Outstanding at January 1, 2022		148,148

Granted during the period		—
Settled during the period		—
Transferred during the period		—
Forfeited during the period		(1,338	)

Outstanding at March 31, 2022		146,810

Specified by vesting date
December, 2022		48,937
December, 2023		48,937
December, 2024		48,936

Outstanding at March 31, 2022		146,810

The fair value of RSUs at the date of grant was €123.46 for the years ended December 31, 2021, which was the first date of granting RSUs.

Significant Events in the Reporting Period	3 Months Ended
Significant Events in the Reporting Period	Mar. 31, 2022
Text block [abstract]
Significant Events In The Reporting Period	Note 4—Significant Events in the Reporting Period COVID-19 Pandemic The COVID-19 pandemic has affected countries where we are operating, where we have planned or have ongoing clinical trials, and where we rely on third-parties to manufacture preclinical, clinical and commercial supply. COVID-19 did not have a direct material impact on the unaudited condensed consolidated interim financial statements. Conflict in the Region Surrounding Ukraine and Russia The ongoing conflict in the region surrounding Ukraine and Russia has impacted our ability to continue clinical trial activities in those countries. The conflict did not have a direct material impact on the unaudited condensed consolidated interim financial statements. Leases An additional facility lease in Germany with an enforceable lease term of four years commenced in January 2022, and an initial lease liability and corresponding right-of-use asset of €2.3 million was recognized . In addition, in February 2022, the Company entered into a facility lease in Germany with an enforceable lease term of 15 years, which is expected to commence in 2025. Subject to changes in terms and conditions and development in interest rates, an initial lease liability and corresponding right-of-use asset of €55.2 million is expected to be recognized at the commencement date. Convertible Senior Notes Offering On March 29, 2022 (trade date, March 25, 2022), the Company issued an aggregate principal amount of $575.0 million of fixed rate 2.25% convertible notes. The net proceeds from the offering were $557.9 million (€503.3 million), after deducting the initial purchasers’ discounts and commissions and estimated offering expenses. Further details are disclosed in Note 10, “Financial Assets and Financial Liabilities ”. Acquisition of Treasury Shares The Company used $116.7 million (€105.2 million) of the net proceeds from the offering of the convertible notes to repurchase 1,000,000 ADSs representing the Company’s ordinary shares. Total holding of treasury shares is disclosed in Note 9, “Treasury Shares”.

Share-Based Payment - Summary Of Share Based Payment (Detail) - Restricted Stock Units [Member]	3 Months Ended
	Mar. 31, 2022
Sharebased Payment Arrangement, Restricted Stock Unit, Activity [Line Items]
Settled during the period	0
Transferred during the period	0

Financial Assets and Financial Liabilities (Tables)

3 Months Ended

Mar. 31, 2022

Text block [abstract]

Schedule of Financial Assets and Liabilities

Financial assets and liabilities comprise the following:


	March 31, 2022		December 31, 2021

	(EUR’000)
Financial assets by category
Trade receivables		5,808		2,200
Other receivables (excluding VAT receivables)		8,093		12,276
Marketable securities		309,542		343,358
Cash and cash equivalents		755,643		446,267

Financial assets measured at amortized cost		1,079,086		804,101

Total financial assets		1,079,086		804,101

Classified in the statement of financial position
Non-current assets		88,309		109,369
Current assets		990,777		694,732

Total financial assets		1,079,086		804,101


	March 31, 2022		December 31, 2021

	(EUR’000)
Financial liabilities by category
Borrowings
Convertible senior notes		365,562		—
Lease liabilities		108,100		104,961
Trade payables and accrued expenses		70,683		59,417

Financial liabilities measured at amortized cost		544,345		164,378

Derivative liabilities		141,379		—

Financial liabilities measured at fair value through profit or loss		141,379		—

Total financial liabilities		685,724		164,378

Classified in the statement of financial position
Non-current liabilities		606,115		97,966
Current liabilities		79,609		66,412

Total financial liabilities		685,724		164,378

Summary of Marketable securities

The composition of the portfolio is specified in the following table:


	March 31, 2022				December 31, 2021
	Carrying amount		Fair value		Carrying amount		Fair value

	(EUR’000)
Marketable securities
U.S. Government bonds		89,376		88,341		95,408		95,211
Commercial papers		—		—		2,207		2,207
Corporate bonds		200,806		199,189		226,771		226,379
Agency bonds		19,360		19,198		18,972		18,934

Total marketable securities		309,542		306,728		343,358		342,731

Classified based on maturity profiles
Non-current assets		86,487		84,909		107,561		107,175
Current assets		223,055		221,819		235,797		235,556

Total marketable securities		309,542		306,728		343,358		342,731

Specified by rate structure
Fixed rate		293,837		291,035		323,176		322,556
Floating rate		15,705		15,693		17,975		17,968
Zero-coupon		—		—		2,207		2,207

Total marketable securities		309,542		306,728		343,358		342,731

Specified by investment grade credit rating
High grade		127,447		126,100		144,307		144,030
Upper medium grade		179,921		178,472		196,909		196,566
Lower medium grade		2,174		2,156		2,142		2,135

Total marketable securities		309,542		306,728		343,358		342,731

Summary of Maturity Analysis For Financial Liabilities

Maturity analysis (on an undiscounted basis) for

non-derivative

financial liabilities recognized in the unaudited condensed consolidated statements of financial position at March 31, 2022 is specified below.


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

	(EUR’000)
March 31, 2022
Borrowings
Convertible senior notes		11,654		46,617		529,626		587,897		365,562
Lease liabilities		9,079		53,620		66,995		129,694		108,100
Trade payables and accrued expenses		70,683		—		—		70,683		70,683

Total financial liabilities		91,416		100,237		596,621		788,274		544,345

Treasury Shares - Summary of Holding of Treasury Shares (Detail) € in Thousands	3 Months Ended
	Mar. 31, 2022 EUR (€) shares
Disclosure Of Holding Of Treasury Shares [Line Items]
At January 1, 2022 (Nominal values) \| €	€ 21
Acquired from third-parties (Nominal values) \| €	134
At March 31, 2022 (Nominal values) \| €	€ 155
At January 1, 2022 (Holding) \| shares	154,837
Acquired from third-parties (Holding) \| shares	1,000,000
At March 31, 2022 (Holding) \| shares	1,154,837
At January 1, 2022 (Holding in % of total outstanding shares)	0.27%
Acquired from third-parties (Holding in % of total outstanding shares)	0.00%
At March 31, 2022 (Holding in % of total outstanding shares)	2.03%

Label	Element	Value
Weighted Average Duration Of Marketable Securities Noncurrent Explanatory	asnd_WeightedAverageDurationOfMarketableSecuritiesNoncurrentExplanatory	15 months 15 days
Weighted Average Duration Of Marketable Securities Noncurrent Explanatory	asnd_WeightedAverageDurationOfMarketableSecuritiesNoncurrentExplanatory	16 months 21 days
Number of other equity instruments vested in share-based payment arrangement	asnd_NumberOfOtherEquityInstrumentsVestedInSharebasedPaymentArrangement	4,248,774
Upfront Payment Received Non Cash Consideration Towards License Revenue	asnd_UpfrontPaymentReceivedNonCashConsiderationTowardsLicenseRevenue	$ 40,000,000.0
Cash Deposits	asnd_CashDeposits	$ 754,497,000
Cash Deposits	asnd_CashDeposits	$ 495,047,000
Weighted Average Duration Of Marketable Securities Explanatory	asnd_WeightedAverageDurationOfMarketableSecuritiesExplanatory	8 months 12 days
Weighted Average Duration Of Marketable Securities Explanatory	asnd_WeightedAverageDurationOfMarketableSecuritiesExplanatory	9 months 6 days
Net Proceeds From Convertible Senior Notes	asnd_NetProceedsFromConvertibleSeniorNotes	$ (504,454,000)
Net Proceeds From Convertible Senior Notes	asnd_NetProceedsFromConvertibleSeniorNotes	0
Distributable equity	asnd_DistributableEquity	665,167,000
Distributable equity	asnd_DistributableEquity	875,989,000
Reimbursement From Acquisition of Property Plant and Equipment	asnd_ReimbursementFromAcquisitionOfPropertyPlantAndEquipment	3,794,000
Reimbursement From Acquisition of Property Plant and Equipment	asnd_ReimbursementFromAcquisitionOfPropertyPlantAndEquipment	0
Contractual Undiscounted Cashflow Of Convertible Senior Notes	asnd_ContractualUndiscountedCashflowOfConvertibleSeniorNotes	587,897,000
Short Term Marketable Securities	asnd_ShortTermMarketableSecurities	1,146,000
Short Term Marketable Securities	asnd_ShortTermMarketableSecurities	$ 0
Basic And Diluted Earnings Loss Per Shares	asnd_BasicAndDilutedEarningsLossPerShares	$ (2.21)
Basic And Diluted Earnings Loss Per Shares	asnd_BasicAndDilutedEarningsLossPerShares	$ (1.17)
Contractual Undiscounted Cashflow Of Financial Liabilities	asnd_ContractualUndiscountedCashflowOfFinancialLiabilities	$ 788,274,000
Marketable Securities Explanatory	asnd_MarketableSecuritiesExplanatory	309,542,000
Marketable Securities Explanatory	asnd_MarketableSecuritiesExplanatory	$ 343,358,000
Weighted average exercise price of other equity instruments vested in sharebased payment arrangement	asnd_WeightedAverageExercisePriceOfOtherEquityInstrumentsVestedInSharebasedPaymentArrangement	$ 55.53
Share Price Applied For Valuation	asnd_SharePriceAppliedForValuation	$ 47.98
Number of reportable operating segments	asnd_NumberOfReportableOperatingSegments	1
Fair Value of Convertible Notes	asnd_FairValueOfConvertibleNotes	$ 379,800,000
Potential Conversion Of Convertible Senior Notes Into Number Of Ordinary Shares	asnd_PotentialConversionOfConvertibleSeniorNotesIntoNumberOfOrdinaryShares	7,060,788
Potential Conversion Of Convertible Senior Notes Into Number Of Ordinary Shares	asnd_PotentialConversionOfConvertibleSeniorNotesIntoNumberOfOrdinaryShares	3,456,785
Potential Conversion Of Convertible Senior Notes Into Number Of Ordinary Shares	asnd_PotentialConversionOfConvertibleSeniorNotesIntoNumberOfOrdinaryShares	6,109,942
Payment Term Of Customers	asnd_PaymentTermOfCustomers	30 days
Revenue From Sale Of Clinical Supply	asnd_RevenueFromSaleOfClinicalSupply	$ 3,936,000
Revenue From Sale Of Clinical Supply	asnd_RevenueFromSaleOfClinicalSupply	$ 0
Weighted Average Duration Of Marketable Securities Current Explanatory	asnd_WeightedAverageDurationOfMarketableSecuritiesCurrentExplanatory	5 months 21 days
Weighted Average Duration Of Marketable Securities Current Explanatory	asnd_WeightedAverageDurationOfMarketableSecuritiesCurrentExplanatory	5 months 24 days
Goodwill And Other Intangible Assets	asnd_GoodwillAndOtherIntangibleAssets	$ 5,161,000
Goodwill And Other Intangible Assets	asnd_GoodwillAndOtherIntangibleAssets	5,272,000
Contractual Undiscounted Cashflow Of Financial Lease Liabilities	asnd_ContractualUndiscountedCashflowOfFinancialLeaseLiabilities	129,694,000
Contractual Undiscounted Cashflow Of Trade Payables And Other Payables	asnd_ContractualUndiscountedCashflowOfTradePayablesAndOtherPayables	70,683,000
Adjustments For Non Cash Consideration Regarding Revenue	asnd_AdjustmentsForNonCashConsiderationRegardingRevenue	632,000
Adjustments For Non Cash Consideration Regarding Revenue	asnd_AdjustmentsForNonCashConsiderationRegardingRevenue	577,000
Increase Decrease In Derivative Financial Liabilities Fair Value	asnd_IncreaseDecreaseInDerivativeFinancialLiabilitiesFairValue	$ 23,600,000
Conversion Price Per Share	asnd_ConversionPricePerShare	$ 166.34
Convertible Senior Notes [Member]
Borrowings Threshold Percentage Of Sale Price Per Share For Redemption	asnd_BorrowingsThresholdPercentageOfSalePricePerShareForRedemption	130.00%
Borrowings In Arrears Default Payment Start Date	asnd_BorrowingsInArrearsDefaultPaymentStartDate	Oct. 01, 2022
Borrowings Threshold Trading Days For Redemption	asnd_BorrowingsThresholdTradingDaysForRedemption	20
Borrowings Threshold Consecutive Trading Days For Redemption	asnd_BorrowingsThresholdConsecutiveTradingDaysForRedemption	30
Borrowings Redemption Period	asnd_BorrowingsRedemptionPeriod	April 7, 2025
Borrowings Condition For Redemption	asnd_BorrowingsConditionForRedemption	but only if the last reported sale price per ADS exceeds 130% of the conversion price on (i) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related optional redemption notice; and (ii) the trading day immediately before the date the Company sends such notice.
Conversion Rate Per Note	asnd_ConversionRatePerNote	$ 6.0118
Collaboration partners and license agreements [Member]
Deferred Revenue From Associate	asnd_DeferredRevenueFromAssociate	$ 600,000
Deferred Revenue From Associate	asnd_DeferredRevenueFromAssociate	600,000
Foreign Currency Conversion Option [Member]
Increase Decrease In Derivative Financial Liabilities Fair Value	asnd_IncreaseDecreaseInDerivativeFinancialLiabilitiesFairValue	$ 15,500,000
Convertible Senior Notes [Member]
Potential Conversion Of Convertible Senior Notes Into Number Of Ordinary Shares	asnd_PotentialConversionOfConvertibleSeniorNotesIntoNumberOfOrdinaryShares	575,000

Significant Events in the Reporting Period - Additional Information (Detail) - shares	Jan. 31, 2022	Dec. 31, 2021
Disclosure Of Summary Of Significant Accounting Policies [line items]
Treasury Stock Common Shares		1,000,000
Enforceable Lease Term	4 years

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2022
Text block [abstract]
Convertible Senior Notes	Convertible Senior Notes Convertible senior notes (“convertible notes”) are separated into a financial liability and an embedded derivative component based on the terms and conditions of the contract. The embedded derivative component is accounted for separately if this is not deemed closely related to the financial liability. The convertible notes include an embedded equity conversion option which is not deemed closely related to the financial liability, and initially recognized and measured separately at fair value as derivative liabilities based on the stated terms upon issuance of the convertible notes. The conversion option is classified as a foreign currency conversion option and thus not convertible into a fixed number of shares for a fixed amount of cash. Accordingly, the conversion option is subsequently recognized and measured as a derivative liability at fair value through profit or loss, with any subsequent remeasurement gains or losses recognized as part of financial income or expenses. In addition, the convertible notes include a redemption option, which entitle the Company to redeem the notes at a cash amount equal to the principal amount of the convertible notes, plus accrued and unpaid interest. The redemption option is closely related to the financial liability, and not separately accounted for. The initial carrying amount of the financial liability component including the redemption option is the residual amount of the proceeds, net of transaction costs, after separating the derivative component. Transaction costs are apportioned between the financial liability and derivative component based on the allocation of proceeds when the instrument is initially recognized. Transaction costs apportioned to the financial liability component form part of the effective interest and are amortized over the expected lifetime of the liability. Transaction costs allocated to the derivative component are expensed as incurred. The financial liability is subsequently measured at amortized cost until it is extinguished on conversion, optional redemption or upon repayment at maturity. The financial liability is presented as part of borrowings on the statement of financial position.

Summary of Significant Accounting Policies - Additional Information (Detail) - EUR (€) € in Thousands	Mar. 31, 2022	Dec. 31, 2021
Disclosure of summary of significant accounting policies [line items]
Convertible Senior Notes	€ 529,626	€ 0

Revenue (Tables)

3 Months Ended

Mar. 31, 2022

Text block [abstract]

Schedule of Revenue Recognized in Consolidated Statement of Profit or Loss


	Three Months ended March 31,
	2022		2021

	(EUR’000)
Revenue from external customers
Commercial sale of products		1,888		—
Rendering of services		372		169
Sale of clinical supply		3,936		—
Licenses		632		577

Total revenue		6,828		746

Attributable to
Commercial customers		1,888		—
Collaboration partners and license agreements (1)		4,940		746

Total revenue		6,828		746

Specified by timing of recognition
Recognized over time		372		169
Recognized at a point in time		6,456		577

Total revenue		6,828		746

Specified by geographical location
Europe		135		—
North America		6,456		686
China		237		60

Total revenue		6,828		746

(1)	For the three months ended March 31, 2022 and 2021, “Total revenue” includes recognition of previously deferred revenue/internal profit from associate of €0.6 million and €0.6 million, respectively.