NewAmsterdam Pharma Company (NAMS) Q2 2026 earnings summary

Executive summary

• Positive CHMP opinion recommending marketing authorization for obicetrapib and its fixed-dose combination in Europe, with potential launches in Germany and UK in Q4 2026 and a final decision expected later in 2026.

• Focused on late-stage development of obicetrapib, with positive Phase 3 results in BROADWAY, BROOKLYN, and TANDEM trials, and ongoing PREVAIL, REMBRANDT, and RUBENS trials targeting cardiovascular and Alzheimer's disease.

• Statistically significant reductions in plasma p-tau217, an Alzheimer's biomarker, observed in BROADWAY Phase 3 trial, supporting expansion into neurodegenerative disease.

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

• Pipeline expansion includes trials in diabetes and Alzheimer's disease, with new studies planned for 2026.

Financial highlights

• Revenue for Q2 2026 was $3.7M, down 81% year-over-year due to non-recurring milestone payments; six-month revenue was $6.7M, down 70%.

• Net loss for Q2 2026 was $64.1M, up from $17.4M in Q2 2025; six-month net loss was $112.6M, up from $56.9M.

• R&D expenses rose to $41.7M in Q2 2026, driven by clinical trials and increased personnel costs.

• SG&A expenses were $26.9M in Q2 2026, slightly down year-over-year, reflecting lower marketing and IP costs offset by higher share-based compensation.

• Cash, cash equivalents, and marketable securities totaled $678.3M as of June 30, 2026.

Outlook and guidance

• Awaiting regulatory decisions on EU marketing applications for obicetrapib and FDC; potential launches in late 2026.

• PREVAIL interim analysis expected in Q4 2026, with DSMB recommendation in Q1 2027; topline data from RUBENS Phase 3 trial expected by year-end 2026.

• Sufficient liquidity to fund operations and obligations, with no sales under the $250M at-the-market program in H1 2026.

• Additional analyses from BROOKLYN and BROADWAY studies to be presented throughout 2026.

• New clinical trial for Alzheimer's prevention with obicetrapib planned for 2026.