Yorvipath revenue surge and broadening access
Q4 2025 Yorvipath revenue of €187,000,000, up from €140,000,000 in Q3 2025 (+33.6% quarter-over-quarter); full-year 2025 revenue €477,000,000. More than 5,300 US patients prescribed by ~2,400 prescribers; insurance approval rate ~70% with majority approved within eight weeks. Yorvipath available commercially or via named-patient programs in >30 countries, with full commercial reimbursement in multiple markets and 10 additional full commercial launches expected in 2026.
Skytrofa solid commercial performance
Skytrofa Q4 2025 revenue €53,000,000 and full-year 2025 revenue €206,000,000; achieved ~7% overall US market share. Launched Phase III basket trial to expand indications (ISS, SHOX deficiency, Turner syndrome, SGA) representing up to ~50% of the growth hormone market.
Company revenue, cash and operating cash flow
Total Q4 2025 revenue €248,000,000 (including €7,000,000 collaboration revenue); total 2025 revenue €720,000,000. Year-end cash and cash equivalents €616,000,000, up from €560,000,000 (+~10%). Q4 operating cash flow €73,000,000.
Pipeline and regulatory momentum
TransCon CNP NDA under FDA review with a PDUFA date of Feb 28, 2026; Phase II 52-week combination data showed 3–4x linear growth improvement versus monotherapy and meaningful benefits in body proportionality and arm span without compromising safety. End-of-Phase-2 and scientific advice meetings with FDA/EU were positive and Phase III alignment achieved. Progress on once-weekly TransCon PTH preclinical PK/PD supporting a weekly profile comparable to daily therapy; Phase III/label-expansion programs moving forward. Strategic partnerships (e.g., Novo Nordisk for once-monthly semaglutide) are advancing toward the clinic.
Ambitious financial outlook
Management expects operating cash flow of ~€500,000,000 in 2026 and aspires to at least €5,000,000,000 in annual product revenue by 2030, reflecting strong confidence in the commercial rollout and pipeline value.