NewAmsterdam Pharma Reports Full Year 2023 EPS $(2.15) Vs $(1.19) YoY; Revenue $14.1M Vs $102.7M YoY
Portfolio Pulse from Benzinga Newsdesk
NewAmsterdam Pharma (NAMS) reported a significant increase in its full-year 2023 net loss to $176.9 million, or $2.15 per share, from $11.5 million, or $1.19 per share in 2022. Revenue plummeted to $14.1 million from $102.7 million YoY, mainly due to a one-time payment from Menarini in 2022. The company's cash position also declined to $340.5 million from $467.7 million, attributed to increased R&D and SG&A expenses, despite a milestone payment from Menarini and cash from warrants and options.
February 28, 2024 | 1:14 pm
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NewAmsterdam Pharma's full-year 2023 results show a significant increase in net loss and a decrease in revenue, with a reduced cash position due to higher operational expenses.
The substantial increase in net loss and decrease in revenue, coupled with the reduced cash position, are likely to negatively impact investor sentiment towards NAMS in the short term. The financial results indicate significant operational spending without proportional revenue growth, which could raise concerns about the company's financial health and sustainability.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100