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In a recent move, Forbion Capital Fund IV Cooperatief U.A. executed a series of sales involving NewAmsterdam Pharma Co N.V. (NASDAQ:NAMS) shares, amounting to approximately $2.3 million. The transactions, which took place between December 20 and December 24, 2024, involved the sale of a total of 91,068 ordinary shares. The stock has shown remarkable momentum, delivering a 132% return year-to-date, with shares currently trading near their 52-week high of $27.29.
The shares were sold at prices ranging from $25.4904 to $26.1274. Following these transactions, Forbion Capital Fund IV and its affiliated entities, including ForGrowth NAP B.V. and Forbion Growth Opportunities Fund I Cooperatief U.A., now hold a total of 10,760,928 shares in NewAmsterdam Pharma. According to InvestingPro data, analyst price targets for NAMS range from $29.12 to $52.55, suggesting potential upside from current levels.
These sales were conducted under a Rule 10b5-1 trading plan, a prearranged plan that allows major shareholders to sell a predetermined number of shares at a predetermined time, helping to avoid concerns about insider trading. Get access to 13 additional InvestingPro Tips and comprehensive financial analysis for NAMS and 1,400+ other stocks.
In other recent news, NewAmsterdam Pharma Co NV has made significant strides in its clinical trials. The company's leading drug candidate, obicetrapib, demonstrated positive results in Phase 3 clinical trials, showing a significant reduction in LDL-C, or bad cholesterol, in patients with hyperlipidemia. In addition, the drug showed a 21% reduction in major adverse cardiovascular events (MACE) within a year of oral monotherapy. These results led Scotiabank (TSX:BNS) to increase the probability of obicetrapib's approval from 70% to 90%.
NewAmsterdam also reported positive results from its BROADWAY and TANDEM trials, which led to an increase in price targets by Leerink Partners and Scotiabank. The company also announced the termination of a $150 million share sale plan and restated its financial statements for the years ending 2022 and 2021 due to identified errors in the calculation of net loss per ordinary share.
The company welcomed new board members Mark C. McKenna and Wouter Joustra. Looking ahead, NewAmsterdam is preparing for the Phase 3 HORIZON trial of pelacarsen in 2025 and the Phase 3 BROADWAY trial readout, expected in 2024. These are recent developments for NewAmsterdam Pharma Co NV.
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