Why Is Ascendis Pharma Stock Trading Lower on Tuesday?

BioMarin Stops Voxzogo Development for Noonan Syndrome

BioMarin Pharmaceutical announced it is discontinuing development of Voxzogo for Noonan syndrome due to study feasibility and treatment landscape concerns, though not due to safety or efficacy issues. Despite this setback, Voxzogo generated $472 million in first-half 2026 sales (up 9% YoY) and is on track to achieve blockbuster status with expected 2026 sales of $1.00-$1.05 billion. The drug faces increasing competition from Ascendis Pharma's Yuviwel and BridgeBio's infigratinib, though BioMarin secured a royalty-bearing settlement with Ascendis.

10-Year Yield Tops 5%, Oil Storms Past $105: Stock Market Today

The 10-year Treasury yield broke 5% for the first time since 2007 as WTI surged past $105 on Saudi pipeline outages, pressuring stocks ahead of the Fed.

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.

Congressman Ditches Magnificent Seven Stocks for Consumer Staples: Here's What He Bought

A US congressman sold some Magnificent Seven stocks and replaced them with a couple consumer staples. Here's the trades.

Reported Earlier: Sandoz Canada Launches Lower-Cost Generic Version Of Novo Nordisk’s Ozempic, Expanding Access to Semaglutide for Type 2 Diabetes

PrSandoz® Semaglutide, a generic version of PrOzempic®, approved for the treatment of adult patients with type 2 diabetesThis lower-cost alternative supports improved affordability and access to type 2 diabetes

Novo's Denecimig Gets CHMP Nod for Hemophilia A in the European Union

Novo announced that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) issued a positive opinion recommending approval of denecimig (Mim8) for hemophilia A treatment in adults and children. The bispecific antibody offers flexible dosing options via subcutaneous prefilled pen and demonstrated low bleeding rates in FRONTIER clinical trials. Novo expects to launch the drug under the brand name Frehemgo in select European countries in Q4 2026, with broader EU rollout in early 2027. The drug is also under FDA review in the United States.