NewAmsterdam Pharma Posts Q2 Revenue of $19.1mln, Beating Consensus by 49.6%, Amid Milestone Payments and R&D Expenses Decline.

NewAmsterdam Pharma (NAMS) Q2 revenue jumped 49% to $19.1 million, exceeding consensus by 49.6%, driven by recognition of partnership milestone payments. R&D expenses declined 28.4%, while SG&A rose 65.5%. Cash reserves totaled $783.3 million as of Q2 2025, supporting ongoing clinical and pre-commercial activities. The company's focus areas include demonstrating the efficacy and safety of its lead product candidate, obicetrapib, and advancing regulatory approvals.

NewAmsterdam Pharma (NAMS) delivered its Q2 2025 earnings report on August 6, 2025, revealing a significant increase in revenue and notable financial trends. The company's GAAP revenue jumped to $19.1 million, exceeding the consensus estimate of $12.8 million by 49.6%. This substantial outperformance was primarily driven by the recognition of a $16.1 million milestone payment from its Menarini partnership in Europe [1].

While revenue surged, NewAmsterdam Pharma also reported a decline in research and development (R&D) expenses by 28.4% compared to Q2 2024. This reduction was largely due to the winding down of late-stage clinical trials. Conversely, selling, general, and administrative (SG&A) expenses increased by 65.5%, reflecting the company's growing commercial investment and preparation for a potential product launch. The company's cash reserves totaled $783.3 million as of Q2 2025, providing a solid financial foundation for ongoing clinical and pre-commercial activities [1].

NewAmsterdam Pharma's lead product candidate, obicetrapib, an oral cholesteryl ester transfer protein (CETP) inhibitor for lowering LDL-C, continued to show promise in clinical trials. The company reported new data from its BROADWAY trial, demonstrating statistically significant reductions in the Alzheimer’s biomarker plasma p-tau217 in high-risk patients. The product also maintained a safety profile similar to placebo, which is crucial for regulatory and payer acceptance [1].

On the regulatory front, NewAmsterdam Pharma confirmed that its European marketing authorization application for obicetrapib is on track for the second half of 2025. Additionally, the company announced plans to launch the RUBENS Phase 3 study, testing obicetrapib in combination with ezetimibe in patients with type 2 diabetes and metabolic syndrome [1].

Looking ahead, NewAmsterdam Pharma's management did not provide precise financial guidance for the next quarter or full fiscal 2025. The company reiterated its focus on progressing regulatory applications, preparing for commercial launch, and advancing its clinical development pipeline. Investors should closely monitor key regulatory milestones, clinical trial readouts, and the company's cash runway management as it gears up for potential market entry [1].

References:
[1] https://www.nasdaq.com/articles/newamsterdam-nams-q2-revenue-jumps-49
[2] https://seekingalpha.com/news/4480366-novavax-raises-2025-revenue-target-to-1_05b-with-milestone-payments-and-streamlined-expenses