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Ascendis Pharma A/S (NASDAQ:ASND) reported Tuesday that its board of directors granted a total of 41,220 warrants to certain employees on Monday. Each warrant allows the holder to subscribe for one ordinary share at an exercise price of $201.16 per share, which matches the closing price of Ascendis Pharma’s American Depositary Shares on the date of the grant.
According to a statement released through a SEC filing, the warrants were issued under Appendix 1a of the company’s Articles of Association. The terms specify that 25% of the warrants will vest on the one-year anniversary of the grant, with the remaining 75% vesting in equal monthly installments over the following three years, contingent on continued employment. The warrants may vest earlier in the event of certain exit events as defined by the company.
Following this grant, Ascendis Pharma’s board retains the ability to issue warrants for up to 1,753,053 additional shares under its Articles of Association.
This information is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, ON Semiconductor’s third-quarter results have garnered attention, with the company exceeding expectations and providing guidance in line with market forecasts. This performance has led to various analyst actions, including TD Cowen raising its price target to $60, citing stabilizing demand and a favorable share reaction compared to peers. Similarly, Benchmark has maintained a Buy rating with a $60 price target, highlighting the company’s strong third-quarter performance and stable core markets. Truist Securities also adjusted its price target to $51, acknowledging the modest beat in results.
Meanwhile, Piper Sandler has lowered its price target for ON Semiconductor to $55, maintaining an Overweight rating, attributing the adjustment to "lower multiples across the space." In corporate governance news, ON Semiconductor announced that Alan Campbell, the chair of its board, plans to retire at the end of his term, which concludes before the 2026 annual meeting. The company clarified that Campbell’s decision was not due to any disagreement with its operations or policies. These developments reflect a mix of analyst perspectives and corporate updates as the company navigates its current market environment.
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