NAMS · NewAmsterdam Pharma Company N.V.

NewAmsterdam Pharma announced its first quarter 2026 financial results alongside significant clinical progress on obicetrapib, a CETP inhibitor targeting LDL-C reduction in high-risk CVD patients. Cash reserves stood at $707.3 million as of March 31, 2026, down from $728.9 million at year-end 2025, reflecting R&D and SG&A outflows offset by option/warrant exercises, providing a robust runway for ongoing Phase 3 trials. Revenue remained steady at $3.0 million, shifting from deferred R&D recognition under the Menarini license to supply agreement fulfillment. R&D expenses declined 15% to $38.0 million, driven by completion of earlier Phase 3 trials like BROOKLYN and BROADWAY, though personnel and manufacturing costs rose; share-based payments within R&D increased to $6.8 million. SG&A fell 14% to $23.5 million on lower marketing, legal, and IP spend, with share-based payments up slightly to $11.2 million. Net loss expanded to $48.4 million from $39.5 million year-over-year, influenced by higher personnel costs, foreign exchange losses, and warrant liability changes, partially mitigated by interest income. CEO Michael Davidson highlighted strong execution, noting completed REMBRANDT enrollment, RUBENS topline data by year-end 2026, and PREVAIL interim analysis in 4Q2026 after positive blinded review showing lower-than-expected MACE rates. New ACC data reinforced obicetrapib's renal benefits and safety. Regulatory milestones include 2H2026 decisions from EMA, UK, and Switzerland, enabling potential 4Q2026 launches by Menarini in Germany/UK. These updates signal advancing commercialization and outcomes data critical for investor assessment of obicetrapib's market potential.