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Douglas F. Kling, Chief Operating Officer of NewAmsterdam Pharma Co N.V. (NASDAQ:NAMS), a biopharmaceutical company with a market capitalization of $2.59 billion, recently sold 100,000 ordinary shares of the company, according to a filing with the Securities and Exchange Commission. The stock has shown strong momentum, gaining over 47% in the past six months, according to InvestingPro data. The shares were sold at prices ranging from $23.16 to $23.66 per share, resulting in a total transaction value of approximately $2.36 million.
In addition to the sale, Kling also exercised options to acquire 118,880 ordinary shares. These shares were acquired at a price range between $0 and $10 per share, totaling $118,880. Following these transactions, Kling holds 44,000 ordinary shares directly.
The sale was executed under a prearranged trading plan in compliance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
In other recent news, NewAmsterdam Pharma has reported significant developments related to its cholesterol-lowering drug candidate, obicetrapib. The company is preparing for regulatory submissions following positive results from three Phase 3 trials, including BROADWAY, TANDEM, and BROOKLYN. These trials demonstrated obicetrapib’s ability to significantly lower LDL-C levels, with reductions of 33%, 36%, and 40% respectively. The BROADWAY trial also showed a notable 21% reduction in major adverse cardiovascular events (MACE) at one year.
Financially, NewAmsterdam Pharma is in a strong position, with a cash balance of $835 million, which is expected to support its operations until commercialization. Analyst George Farmer from Scotiabank (TSX:BNS) raised the company’s price target to $52, citing the drug’s promising clinical profile and the extension of its intellectual property to 2043. Additionally, H.C. Wainwright initiated coverage with a Buy rating and a $48 price target, highlighting obicetrapib’s potential as a preferred treatment for patients not meeting cholesterol goals with current therapies.
The company is also establishing manufacturing capacities in anticipation of U.S. and European launches, pending regulatory approval. NewAmsterdam Pharma’s strategic focus remains on improving care for patients with metabolic diseases, as it continues to present trial data at medical conferences and in high-impact journals.
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