NewAmsterdam Pharma announced its financial results for the full year ended December 31, 2024, reporting a robust $834.2 million in cash, cash equivalents, and marketable securities. This strong liquidity position is expected to fund operations beyond the PREVAIL cardiovascular outcomes trial readout and potential U.S. commercial launch of obicetrapib.
The company reiterated its expectation for an EMA submission in the second half of 2025 by its partner Menarini, following compelling data from its Phase 3 BROOKLYN, TANDEM, and BROADWAY trials. The Phase 3 PREVAIL cardiovascular outcomes trial remains on track, with enrollment of over 9,500 patients completed in April 2024.
A significant intellectual property development was the issuance of a new patent by the United States Patent and Trademark Office covering the solid form of obicetrapib. This patent provides intellectual property protection for obicetrapib until July 2043 in the United States, enhancing the drug's long-term market potential.
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