NewAmsterdam Pharma’s 2024 Financial Results and Clinical Progress

Newamsterdam Pharma Company N.V. ( (NAMS) ) has released its Q4 earnings. Here is a breakdown of the information Newamsterdam Pharma Company N.V. presented to its investors.

NewAmsterdam Pharma Company N.V. is a late-stage clinical biopharmaceutical company focused on developing oral, non-statin medicines for patients at risk of cardiovascular disease with elevated low-density lipoprotein cholesterol, where existing therapies are not effective or well-tolerated. The company recently released its full-year 2024 financial results, highlighting significant progress in its clinical trials and financial performance.

In 2024, NewAmsterdam Pharma reported transformative results from three pivotal Phase 3 trials—BROOKLYN, TANDEM, and BROADWAY—demonstrating significant LDL-C lowering effects of its drug candidate obicetrapib. The company also announced a successful $479 million upsized financing, bolstering its cash reserves to $834.2 million by year-end, which will support its operations and potential commercial launch of obicetrapib in the U.S. and Europe, pending regulatory approval.

Key financial metrics for 2024 include a revenue increase to $45.6 million from $14.1 million in 2023, driven by clinical success milestones and development cost reimbursements. Research and development expenses slightly decreased to $151.4 million, while selling, general, and administrative expenses rose to $70.4 million as the company expanded its commercial capabilities. The net loss for the year widened to $241.6 million, reflecting increased operational activities and non-cash losses related to derivative liabilities.

Looking ahead, NewAmsterdam Pharma plans to continue advancing its clinical programs, with additional data from ongoing trials expected in 2025. The company remains focused on regulatory submissions and scaling up its commercial capabilities to deliver potentially transformative therapies to cardiovascular disease patients worldwide.