NewAmsterdam Pharma Company (NAMS) Stifel 2026 Healthcare Conference 2026 summary

AHA takeaways and obicetrapib positioning

• ZEUS enrolled a very sick population; Davidson said treatment may have come too late and maintained that the inflammation hypothesis remains open, with ARTEMIS studying a less sick population.

• HORIZON showed higher risk among patients with LDL >100 mg/dL; the cited event risk was 18% over the study versus lower risk with LDL <100 mg/dL.

• Management said HORIZON supports possible added Lp(a)-lowering benefit in PREVAIL’s higher-LDL population; obicetrapib’s other differentiators include HDL increase, small-particle reductions, and combination LDL lowering above 50%.

• Management sees potential for obicetrapib in primary prevention, especially for younger patients with elevated Lp(a); other ongoing studies will examine primary prevention.

PREVAIL efficacy expectations

• BROADWAY lipid changes modeled for PREVAIL suggest relative risk reduction of ~20% based on LDL, ~22% based on HDL, and ~18% based on ApoB; separate analyses also pointed to 18%-22%.

• Management cited an 18 mg/dL ApoB reduction and statin-trial evidence of 12% relative risk reduction per 10 mg/dL ApoB drop; REVEAL’s non-HDL results were viewed as relevant for another CETP inhibitor.

• PREVAIL and BROADWAY populations were described as closely matched; management cited nearly 90% overlap with REVEAL’s upper tertile as a useful comparator.

• BROADWAY showed ~2.5% relative reduction for MACE-3 and ~5% for MACE-4; management said PREVAIL’s first-year blinded event rates tracked closely with BROADWAY.

Blinded trends and interim review

• Management said annualized MACE-3 and MACE-4 rates are declining over time, while first-year PREVAIL rates and external-trial benchmarks support its interim outlook.

• MACE-3 components MI and CHD death, plus all-cause mortality, were described as trending favorably; management said stroke may separate later and cited blinded trends suggesting a catch-up phase.

• Management said PREVAIL is well powered at the interim for a BROADWAY-like effect size, but retained an additional year to reduce random variability and maximize the chance of a successful trial.

• The DSMB recommendation is expected in 1Q; an initial announcement will state whether the trial stops or continues, with unblinding only after study closeout and database lock.

• An interim stop could bring market entry forward by a year; management described the opportunity as worth the risk while emphasizing the goal of a successful trial.