NewAmsterdam Pharma Company (NAMS) Q1 2026 earnings summary

Executive summary

• Focused on late-stage development of obicetrapib, a CETP inhibitor for LDL-C lowering, with multiple Phase 3 trials completed and additional data expected in 2026.

• Regulatory decisions for obicetrapib and its fixed-dose combination expected in 2H26, with potential launches in Germany and the UK by Q4 2026.

• PREVAIL cardiovascular outcomes trial completed enrollment; interim analysis planned for Q4 2026, with results anticipated in Q1 2027 and possible trial completion by end of 2027 if not stopped early.

• U.S. commercialization to be pursued independently, with additional partnerships considered for other regions.

• Additional analyses from BROOKLYN and BROADWAY Phase 3 trials presented, highlighting renal and cardiovascular outcomes.

Financial highlights

• Revenue for Q1 2026 was $3.0 million, flat year-over-year, primarily from supply agreements.

• Net loss for Q1 2026 was $48.4 million, compared to $39.5 million in Q1 2025.

• Research and development expenses decreased 15% year-over-year to $38.0 million, mainly due to completion of Phase 3 trials.

• Selling, general and administrative expenses decreased 14% year-over-year to $23.5 million.

• Cash, cash equivalents, and marketable securities totaled $707.3 million as of March 31, 2026.

Outlook and guidance

• Anticipates regulatory decisions for obicetrapib and its FDC in Europe in the second half of 2026, with potential launches in Germany and the UK in Q4 2026.

• PREVAIL interim analysis in Q4 2026 may lead to early trial termination for efficacy or futility; final results expected by end of 2027 if not stopped early.

• Topline data from RUBENS Phase 3 anticipated by year-end 2026; new Alzheimer's prevention trial to begin in 2026.