US LNG exports surge but will buyers in China turn up?
On Tuesday, RBC Capital analysts reiterated their Outperform rating for NewAmsterdam Pharma Co NV (NASDAQ: NAMS), maintaining a price target of $38.00. This target aligns with the broader analyst consensus, as InvestingPro data shows analyst targets ranging from $37.24 to $52.68. This decision comes as the firm evaluates the potential of obicetrapib, a drug developed by NewAmsterdam Pharma, following the completion of phase III LDL lowering studies.
The analysis involved a survey of 56 healthcare providers to gauge the positioning of obicetrapib in the LDL lowering market. The survey results indicated that a significant number of patients are currently undertreated and require additional LDL lowering options. Obicetrapib’s small oral pill format, combined with its notable LDL lowering and metabolic benefits, has garnered considerable interest among physicians. With a market capitalization of $2.13 billion and strong liquidity position evidenced by a current ratio of 19.98, NewAmsterdam appears well-positioned to support its drug development initiatives.
According to RBC Capital, healthcare providers are inclined to incorporate obicetrapib early in their treatment plans, possibly as a first switch or addition. This potential integration into treatment regimens suggests a promising market presence for obicetrapib.
RBC Capital projects that obicetrapib could achieve U.S. sales between $1.6 billion and $2.7 billion, as it positions itself alongside other LDL lowering treatments such as PCSK9 inhibitors and ezetimibe. The firm’s analysis underscores the drug’s potential impact on the competitive landscape in the LDL lowering space.
In other recent news, NewAmsterdam Pharma Company N.V. has reported promising results from its Phase 3 studies of obicetrapib, an oral medication aimed at reducing LDL-C for cardiovascular disease patients. The BROADWAY trial, published in The New England Journal of Medicine, showed a 33% reduction in LDL-C compared to placebo, while the TANDEM trial, published in The Lancet, demonstrated a 48.6% reduction. Furthermore, the drug showed potential in reducing major adverse cardiovascular events, with a 21% relative reduction in such events noted. In another development, NewAmsterdam Pharma has appointed Adele Gulfo as an independent director to its Board of Directors. Gulfo brings over 30 years of experience in the pharmaceutical industry, with a strong track record in the commercialization of major medicines. Her appointment comes as the company prepares for the potential launch of obicetrapib in the upcoming year. The company continues to focus on addressing the unmet need for effective LDL-C lowering therapies, with ongoing trials and strategic board appointments reflecting its commitment.
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