NewAmsterdam Pharma reported a strong balance sheet with $422.7 million in cash as of September 30, 2024. This financial position is expected to fund the company through its pivotal Phase 3 readouts and support its mission to commercialize obicetrapib.
The company announced that topline data from its pivotal Phase 3 TANDEM trial is now expected in the fourth quarter of 2024, earlier than anticipated due to faster than expected enrollment. Additionally, NewAmsterdam Pharma remains on track to announce topline data from its Phase 3 BROADWAY study by year-end 2024.
A significant development for the company's intellectual property was the issuance of a new patent by the United States Patent and Trademark Office covering the solid form of obicetrapib. This patent provides exclusivity for obicetrapib until July 2043 in the United States, strengthening its market position if approved.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.