NewAmsterdam Pharma Q1 EPS $(1.06) Vs $(0.51) YoY
Portfolio Pulse from Benzinga Newsdesk
NewAmsterdam Pharma reported a Q1 EPS of $(1.06), widening from $(0.51) YoY. Cash increased to $481.1M, driven by a follow-on offering and warrant exercises. Revenue fell to $1.4M from $8.6M, with no clinical milestones achieved. R&D expenses rose to $42.4M, and SG&A expenses increased to $14.5M, reflecting growth and preparation for obicetrapib's potential launch. The net loss deepened to $93.8M from $42.0M.
May 09, 2024 | 1:04 pm
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NewAmsterdam Pharma's Q1 report shows a significant increase in net loss and operational expenses, despite a strong cash position.
The widened net loss and increased expenses indicate financial pressure, which could concern investors. However, the strong cash position may provide some reassurance. The decrease in revenue and the significant investment in R&D and SG&A for obicetrapib's potential launch are critical factors. These elements suggest a short-term negative impact on the stock price, as the market may focus on the increased losses and expenses before any potential long-term benefits from obicetrapib.
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