Business
NewAmsterdam Pharma Reports Full Year 2022 Financial Results and Provides Corporate Update
-- Completed business combination with FLAC and closed concurrent, oversubscribed approximately $235 million PIPE, led by Frazier Healthcare Partners and Bain
About this update from Newamsterdam Pharma Company N.v.
[{"type":"text","content":"-- Completed business combination with FLAC and closed concurrent, oversubscribed approximately $235 million PIPE, led by Frazier Healthcare Partners and Bain Capital Life Sciences, extending expected cash runway through 2026 -- -- Announced positive topline results from ROSE2 Phase 2 clinical trial evaluating obicetrapib in combination with ezetimibe as an adjunct to high-intensity statin therapy; plan to present full data at NLA Scientific Sessions in June 2023 -- -- Initiated Phase 2 dose-finding study evaluating obicetrapib in Japanese patients; expect to report topline results in 2H 2023 -- -- Pivotal Phase 3 BROOKLN, BROADWAY and PREVAIL trials on-track -- NAARDEN, The Netherlands and MIAMI, March 31, 2023 (GLOBE NEWSWIRE) -- NewAmsterdam Pharma Company N.V. (Nasdaq: NAMS or “NewAmsterdam” or the “Company”), a clinical-stage company focused on the research and development of transformative oral therapies for major cardiometabolic diseases, today announced its financial results for the full year ended December 31, 2022 and provided a corporate update. “2022 was a transformative year for NewAmsterdam, and we are thrilled to have achieved significant corporate and clinical milestones that have propelled our company forward. From securing a major pharmaceutical partner to support potential commercialization efforts in Europe, to going public through a successful deSPAC and concurrent oversubscribed PIPE financing, we have fortified our position as a leader in the cardiometabolic space,” said Michael Davidson, M.D., Chief Executive Officer of NewAmsterdam. “Our positive topline data readout in the ROSE2 Phase 2 clinical trial, the initiation of a Phase 2 dose-finding study in Japanese patients, and the advancement of our three pivotal Phase 3 BROOKLYN, BROADWAY and PREVAIL trials underscore our commitment to developing innovative treatments for patients worldwide. With the capital we believe is needed to support our clinical operations through completion of these pivotal trials, we are confident in our ability to unlock the full potential of obicetrapib and deliver value to the millions of people in need of an effective and convenient LDL-C lowering therapy.” Fourth Quarter and Recent Business Highlights: Clinical Pipeline Updates NewAmsterdam is developing obicetrapib, an oral, low-dose and once-daily CETP inhibitor, as the pr...