-- Marketing Authorization Applications for obicetrapib and FDC of obicetrapib plus ezetimibe accepted for review by European Medicines Agency --
-- BROOKLYN and BROADWAY pooled MACE analysis published in the Journal of the American College of Cardiology, while the BROADWAY pre-specified Alzheimer's substudy was published in the Journal of Prevention of Alzheimer's Disease --
-- $756.0 million in cash, cash equivalents and marketable securities at September 30, 2025 --
NAARDEN, the Netherlands and MIAMI, Nov. 05, 2025 (GLOBE NEWSWIRE) -- NewAmsterdam Pharma Company N.V. (Nasdaq: NAMS or "NewAmsterdam" or the "Company"), a late-stage, clinical biopharmaceutical company developing oral, non-statin medicines for patients at risk of cardiovascular disease ("CVD") with elevated low-density lipoprotein cholesterol ("LDL-C"), for whom existing therapies are not sufficiently effective or well-tolerated, today announced financial results for the quarter ended September 30, 2025 and provided a corporate update.
"We remain acutely focused on our mission to deliver obicetrapib, as a novel, well-tolerated, and conveniently administered therapy for millions of patients with cardiometabolic disease who continue to struggle to reach their LDL-C goals," said Michael Davidson, M.D., Chief Executive Officer of NewAmsterdam. "In the third quarter, we achieved a significant regulatory milestone with the European Medicines Agency's ("EMA") acceptance for review of the marketing authorization applications ("MAAs"), by our partner Menarini, for both obicetrapib monotherapy and the fixed-dose combination ("FDC") with ezetimibe. These submissions, supported by data from our pivotal BROADWAY, BROOKLYN and TANDEM trials, represent an important step toward bringing obicetrapib to patients across Europe."
"In parallel, we continue to advance our broader clinical development strategy, including PREVAIL, our ongoing cardiovascular outcomes trial ("CVOT"), and REMBRANDT, our Phase 3 imaging trial," continued Dr. Davidson. "We are also making meaningful progress building our global infrastructure to support the potential launch of obicetrapib, if approved. As we engage with the investment and medical communities through upcoming conference and medical meetings, we look forward to sharing new pooled efficacy and safety data and to further highlighting our strategic vision for obicetrapib as a differentiated therapy in a large and growing market."
Clinical Development Updates
NewAmsterdam is developing obicetrapib, an oral, low-dose and once-daily investigational cholesteryl ester transfer protein ("CETP") inhibitor, as the preferred LDL-C lowering therapy to be used in patients at risk of CVD for whom existing therapies are not sufficiently effective or well-tolerated.
-- In July 2025, NewAmsterdam announced additional results from the
prespecified Alzheimer's disease ("AD") biomarker analysis in the Phase 3
BROADWAY trial, presented at the 2025 Alzheimer's Association
International Conference ("AAIC"), which NewAmsterdam believes further
support the potential of obicetrapib to modify key biomarkers of AD
pathology over a 12-month period in patients with atherosclerotic
cardiovascular disease ("ASCVD").
-- In ApoE4/E4 carriers, the highest risk category for Alzheimer's
disease, obicetrapib was observed to reduce p-tau217 levels by
20.5%, over 12 months, compared to placebo (p=0.010, n=29).
-- In October 2025, the data was published in the Journal of
Prevention of Alzheimer's Disease.
-- In August 2025, NewAmsterdam presented pooled efficacy and safety data
from its pivotal Phase 3 BROADWAY and BROOKLYN trials at the European
Society of Cardiology Congress ("ESC") 2025, along with the simultaneous
publication in the Journal of the American College of Cardiology,
highlighting obicetrapib's performance across diverse lipid-lowering
backgrounds observed in these trials. The presentation and publication
underscore the Company's continued momentum in advancing obicetrapib as a
differentiated oral therapy for patients with elevated LDL-C.
-- In November 2025, NewAmsterdam expects to present additional data at the
American Heart Association's Scientific Sessions 2025, highlighting
obicetrapib's impact on LDL particles observed in BROADWAY and BROOKLYN.
Upcoming Milestones and Ongoing Trials:
Following the successful completion and positive topline results of the Phase 3 BROADWAY, TANDEM, and BROOKLYN trials, NewAmsterdam plans to announce additional data from these trials relating to obicetrapib and the FDC of obicetrapib plus ezetimibe.
The following Phase 3 trials are currently ongoing:
-- PREVAIL Phase 3 trial: PREVAIL is a CVOT evaluating obicetrapib in
patients with a history of ASCVD, whose LDL-C is not adequately
controlled despite being on maximally tolerated lipid-lowering therapy.
NewAmsterdam completed enrollment of over 9,500 patients in April 2024.
-- REMBRANDT Phase 3 trial: The trial will utilize coronary computed
tomography angiography imaging to evaluate the effect of obicetrapib plus
ezetimibe FDC on coronary plaque. The placebo-controlled, double-blind,
randomized, Phase 3 trial is being conducted in adult participants with
high-risk ASCVD with evidence of coronary plaque who are not adequately
controlled by their maximally tolerated lipid-modifying therapy, to
assess the impact of the obicetrapib 10 mg plus ezetimibe 10 mg FDC daily
on coronary plaque and inflammation characteristics. The trial is
expected to enroll 300 patients.
NewAmsterdam also plans to initiate the RUBENS Phase 3 clinical trial to evaluate obicetrapib in combination with ezetimibe in patients with type 2 diabetes or metabolic syndrome that require additional lowering of LDL-C despite treatment with available therapy. The RUBENS trial is expected to initiate in the fourth quarter of 2025.
Corporate Updates
-- In August 2025, the EMA accepted for review the MAAs for obicetrapib 10
mg monotherapy and the FDC of 10 mg obicetrapib plus 10 mg ezetimibe for
the treatment of primary hypercholesterolemia, including heterozygous
familial and non-familial or mixed dyslipidemia. The EMA's validation of
the submissions, made by NewAmsterdam's partner, A. Menarini
International Licensing S.A. ("Menarini"), represents a key regulatory
milestone. The submissions are supported by data from the BROADWAY,
BROOKLYN, and TANDEM pivotal Phase 3 trials.
Third Quarter Financial Results
-- Cash Position: As of September 30, 2025, NewAmsterdam recorded cash, cash
equivalents and marketable securities of $756.0 million, compared to
$834.2 million as of December 31, 2024. The decrease was primarily driven
by ongoing operating expenditures.
-- Revenue: NewAmsterdam recognized $0.3 million in revenue for the quarter
ended September 30, 2025, compared to $29.1 million in the same period in
2024. The decrease was primarily attributable to the recognition of $27.3
million of revenue from a license agreement with Menarini related to a
clinical development milestone which was earned in the quarter ended
September 30, 2024 while there were no clinical milestones earned in the
quarter ended September 30, 2025.
-- Research and Development ("R&D") Expenses: R&D expenses were $31.0
million in the quarter ended September 30, 2025, compared to $35.7
million for the same period in 2024. This decrease was primarily due to a
decrease in clinical expenses and manufacturing expenses, partially
offset by an increase in personnel expenses, including share-based
compensation and non-clinical expenses related to pipeline expansion and
product lifecycle management. Share-based compensation expenses included
with R&D expenses totaled $5.0 million in the quarter ended September 30,
2025, compared to $3.0 million for the same period in 2024.
-- Selling, General and Administrative ("SG&A") Expenses: SG&A expenses were
$24.5 million in the quarter ended September 30, 2025, compared to $18.4
million for the same period in 2024. This increase was primarily due to
an increase in personnel expenses, including share-based compensation.
Share-based compensation expenses included with SG&A expenses totaled
$10.0 million in the quarter ended September 30, 2025, compared to $5.0
million for the same period in 2024.
-- Net loss: Net loss for the quarter ended September 30, 2025, was $72.0
million, compared to net loss of $16.6 million for the same period in
2024. The individual components of the change are described above in
addition to non-cash losses related to changes in the fair value of our
derivative liabilities.
About Obicetrapib
Obicetrapib is a novel, oral, low-dose CETP inhibitor that NewAmsterdam is developing to overcome the limitations of current LDL-lowering treatments. In each of the Company's Phase 2 trials, ROSE2, TULIP, ROSE, and OCEAN, as well as the Company's Phase 3 BROOKLYN, BROADWAY and TANDEM trials, evaluating obicetrapib as monotherapy or combination therapy, the Company observed statistically significant LDL-lowering combined with a side effect profile similar to that of placebo. The Company commenced the Phase 3 PREVAIL cardiovascular outcomes trial in March 2022, which is designed to assess the potential of obicetrapib to reduce occurrences of MACE. The Company completed enrollment of PREVAIL in April 2024 and randomized over 9,500 patients. Commercialization rights of obicetrapib in Europe, either as a monotherapy or as part of a fixed-dose combination with ezetimibe, have been exclusively granted to the Menarini Group, an Italy-based, leading international pharmaceutical and diagnostics company.
About Cardiovascular Disease
Cardiovascular disease remains the leading cause of death globally, despite the availability of lipid-lowering therapies ("LLTs"). By 2050 more than 184 million U.S. adults are expected to be affected by CVD and hypertension, including 27 million with coronary heart disease and 19 million with stroke. In the United States from 2019 through 2022, CVD age-adjusted mortality rates increased by 9%, reversing the trend observed since 2010 and undoing nearly a decade of progress. Despite the availability of high-intensity statins and non-statin LLTs, LDL-C target level attainment remains low, contributing to residual cardiovascular risk, and underscoring a significant clinical need for improved therapeutic regimens. Even with 269 million LLT prescriptions written over the last 12 months, 30 million under-treated US adults are not at their risk-based LDL-C goal, of which 13 million have ASCVD. Less than 1 in 4 patients with ASCVD achieve an LDL-C goal of less than 70 mg/dL and only 10% of very high risk ASCVD patients achieve the goal below 55 mg/dL. In addition to the 30 million under-treated U.S. adults, there are 10 million patients diagnosed with elevated LDL-C who are not taking any LLTs including statins. Beyond LDL-C, additional factors are at play, such as lifestyle choices, tobacco use, and obesity, as well as inflammation, thrombosis, triglyceride levels, elevated Lp(a) levels, and type 2 diabetes.
Alzheimer's Analysis
In BROADWAY, a pre-specified analysis was designed to assess plasma biomarkers of Alzheimer's disease ("AD") in patients enrolled in the BROADWAY trial and evaluated the effects of longer duration of therapy (12 months) with a prespecified ApoE population, based on phenotypic analysis. The analysis included 1,535 patients, including 367 ApoE4 carriers (ApoE3/E4 or ApoE4/E4), whose ApoE status was able to be determined. Because this analysis was based on a subset of patients from BROADWAY (which was designed to evaluate LDL-C reductions in an ASCVD and/or HeFH population), the AD analysis was not controlled for baseline differences between the treatment and placebo populations, but statistical analyses were adjusted for baseline biomarker values and age. The absolute and percent change over 12 months in p-tau217, a key biomarker of AD pathology, was measured among patients with baseline and end of study datapoints above the lower limit of quantitation. Additional outcome measures included NFL, GFAP, p-tau181, and A<BETA>42/40 ratio absolute and percent change over 12 months. NewAmsterdam observed statistically significant lower absolute changes in p-tau217 compared to placebo over 12 months in both the full analysis set (p=0.025; n= 1,535) and in ApoE4 carriers (p=0.022; n=367) as well as favorable trends in the other AD biomarkers. Although a safety analysis was not performed in the AD analysis population, in BROADWAY obicetrapib was observed to be well-tolerated, with safety results comparable to placebo.
About NewAmsterdam
NewAmsterdam Pharma (Nasdaq: NAMS) is a late-stage clinical biopharmaceutical company whose mission is to improve patient care in populations with metabolic diseases where currently approved therapies have not been adequate or well tolerated. We seek to fill a significant unmet need for a safe, well-tolerated and convenient LDL-lowering therapy. In multiple phase 3 trials, NewAmsterdam is investigating obicetrapib, an oral, low-dose and once-daily CETP inhibitor, alone or as a fixed-dose combination with ezetimibe, as LDL-C lowering therapies to be used as an adjunct to statin therapy for patients at risk of CVD with elevated LDL-C, for whom existing therapies are not sufficiently effective or well tolerated.
Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the Company's business and strategic plans; the Company's commercial opportunity; the therapeutic and curative potential of the Company's product candidates; the Company's clinical trials and the timing for commencing trials, enrolling patients and completing trials; the timing and forums for announcing data; the achievement and timing of regulatory filings and approvals; and plans for commercialization. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions. Many actual events and circumstances are beyond the control of the Company.
These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; risks related to the approval of the Company's product candidates and the timing of expected regulatory and business milestones, including potential commercialization; whether topline, initial or preliminary results from a particular clinical trial will be predictive of the final results of that trial and whether results of early clinical trials will be indicative of the results of later clinical trials, or whether projections regarding clinical outcomes will reflect actual results in future clinical trials or clinical use of our product candidates, if approved; the potential for varying interpretation of the results of clinical trials and analyses; the impact of competitive product candidates; and those risks, uncertainties and other factors discussed under the caption "Item 1A. Risk Factors" and elsewhere in the Company's most recent Form 10-K, Form 10-Q and other public filings with the Securities and Exchange Commission, which are available at www.sec.gov. Additional risks related to the Company's business include, but are not limited to: uncertainty regarding outcomes of the Company's ongoing clinical trials, particularly as they relate to regulatory review and potential approval for its product candidates; risks associated with the Company's efforts to commercialize its product candidates; the Company's ability to negotiate and enter into definitive agreements on favorable terms, if at all; the impact of competing product candidates on the Company's business; risks and uncertainties relating to intellectual property and regulatory exclusivities; the Company's ability to attract and retain qualified personnel; and the Company's ability to continue to source the raw materials for its product candidates. If any of these risks materialize or the Company's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company does not presently know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.
In addition, forward-looking statements reflect the Company's expectations, plans, or forecasts of future events and views as of the date of this press release and are qualified in their entirety by reference to the cautionary statements herein. The Company anticipates that subsequent events and developments may cause the Company's assessments to change. These forward-looking statements should not be relied upon as representing the Company's assessment as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Neither the Company nor any of its affiliates undertakes any obligation to update these forward-looking statements, except as may be required by law.
Company Contact
Matthew Philippe
P: 1-917-882-7512
matthew.philippe@newamsterdampharma.com
Media Contact
Real Chemistry on behalf of NewAmsterdam
Christian Edgington
P: 1-513-310-6410
cedgington@realchemistry.com
Investor Contact
Precision AQ on behalf of NewAmsterdam
Austin Murtagh
P: 1-212-698-8696
austin.murtagh@precisionaq.com
NewAmsterdam Pharma Company N.V.
Condensed Consolidated Balance Sheet
(Unaudited)
September 30, December 31,
2025 2024
-------------- ------------
(In thousands of USD)
Assets
Current assets:
Cash and cash equivalents 538,407 771,743
Prepayments and other receivables 28,074 24,272
Employee receivables -- 4,951
Marketable securities, current 164,539 62,447
Restricted cash 1,308 --
------------- ------------
Total current assets 732,328 863,413
Marketable securities, net of
current portion 53,091 --
Property, plant and equipment, net 323 242
Operating right of use asset 246 431
Intangible assets 439 534
------------- ------------
Total assets 786,427 864,620
============= ============
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable 3,632 4,744
Accrued expenses and other current
liabilities 10,098 13,608
Deferred revenue, current -- 6,008
Lease liability, current 181 246
Derivative earnout liability,
current -- 44,798
Derivative warrant liabilities 44,361 37,514
------------- ------------
Total current liabilities 58,272 106,918
Lease liability, net of current
portion 85 202
------------- ------------
Total liabilities 58,357 107,120
============= ============
Commitments and contingencies (Note
12)
Shareholders' Equity (deficit):
Ordinary shares, EUR0.12 par value;
400,000,000 shares authorized;
113,172,684 and 108,064,340 shares
issued and outstanding as at
September 30, 2025 and December
31, 2024, respectively 14,107 13,444
Additional paid-in capital 1,396,790 1,298,160
Accumulated loss (687,467) (558,571)
Accumulated other comprehensive
income 4,640 4,467
------------- ------------
Total shareholders' equity 728,070 757,500
------------- ------------
Total liabilities and shareholders'
equity 786,427 864,620
============= ============
NewAmsterdam Pharma Company N.V.
Condensed Consolidated Statements of Operations and
Comprehensive Loss
(Unaudited)
For the three For the nine months
months ended ended September
September 30, 30,
2025 2024 2025 2024
-------- ------- -------- --------
(In thousands of USD,
except per share
amounts)
Revenue 348 29,111 22,471 32,791
Operating expenses:
Research and
development
expenses 30,971 35,702 103,238 116,511
Selling, general and
administrative
expenses 24,520 18,412 78,936 49,340
------- ------- -------- --------
Total operating
expenses 55,491 54,114 182,174 165,851
------- ------- -------- --------
Operating loss (55,143) (25,003) (159,703) (133,060)
Other income
(expense):
Interest income 6,713 4,443 21,119 12,396
Fair value change --
earnout -- (5,414) 3,992 (11,020)
Fair value change --
warrants (23,792) 4,644 (7,440) (19,008)
Loss on disposal of
property, plant and
equipment (1) -- (1) --
Foreign exchange
gains/(losses) 218 4,682 13,137 1,270
------- ------- -------- --------
Loss before tax (72,005) (16,648) (128,896) (149,422)
Income tax expense
(benefit) -- (1) -- (1)
------- ------- -------- --------
Loss for the period (72,005) (16,647) (128,896) (149,421)
Other comprehensive
income/(loss)
Unrealized
gain/(loss) on
available-for-sale
securities, net of
tax 313 -- 173 --
------- ------- -------- --------
Total comprehensive
loss for the period,
net of tax (71,692) (16,647) (128,723) (149,421)
------- ------- -------- --------
NewAmsterdam Pharma Company N.V.
Condensed Consolidated Statements of Mezzanine Equity
and Shareholders' Equity
(Unaudited)
Accumulated
(In thousands of Additional Other Total
USD, except Paid-In Accumulated Comprehensive Shareholders'
share amounts) Shares Amount Capital Loss Income Equity
------------ ------ ---------- ----------- ------------- -------------
Balance at
December 31,
2023 82,469,768 10,173 590,771 (316,973) 4,422 288,393
=========== ====== ========== =========== ============= =============
Issuance of
Ordinary
Shares and
Pre-Funded
Warrants, net
of issuance
costs 5,871,909 759 189,207 -- -- 189,966
Exercise of
warrants 926,698 121 19,674 -- -- 19,795
Exercise of
stock options 452,461 60 (609) -- -- (549)
Share-based
compensation -- -- 7,965 -- -- 7,965
Total loss and
comprehensive
loss for the
period -- -- -- (93,767) -- (93,767)
----------- ------ ---------- ----------- ------------- -------------
As at March 31,
2024 89,720,836 11,113 807,008 (410,740) 4,422 411,803
=========== ====== ========== =========== ============= =============
Exercise of
warrants 294,521 38 6,268 -- -- 6,306
Share-based
compensation -- -- 8,337 -- -- 8,337
Total loss and
comprehensive
loss for the
period -- -- -- (39,007) -- (39,007)
----------- ------ ---------- ----------- ------------- -------------
As at June 30,
2024 90,015,357 11,151 821,613 (449,747) 4,422 387,439
=========== ====== ========== =========== ============= =============
Exercise of
Pre-Funded
Warrants 2,105,248 279 (279) -- -- --
Exercise of
stock options 45,000 5 53 -- -- 58
Share-based
compensation -- -- 8,012 -- -- 8,012
Total loss and
comprehensive
loss for the
period -- -- -- (16,647) -- (16,647)
----------- ------ ---------- ----------- ------------- -------------
As at September
30, 2024 92,165,605 11,435 829,399 (466,394) 4,422 378,862
=========== ====== ========== =========== ============= =============
Balance at
December 31,
2024 108,064,340 13,444 1,298,160 (558,571) 4,467 757,500
=========== ====== ========== =========== ============= =============
Issuance of
Earnout
Shares 1,743,136 226 40,581 -- -- 40,807
Exercise of
Pre-Funded
Warrants 1,293,938 162 (162) -- -- --
Exercise of
warrants 15,942 2 410 -- -- 412
Exercise of
stock options 909,140 116 2,875 -- -- 2,991
Vesting of RSUs 142,795 18 (18) -- -- --
Share-based
compensation -- -- 15,213 -- -- 15,213
Total loss and
comprehensive
loss for the
period -- -- -- (39,527) (33) (39,560)
----------- ------ ---------- ----------- ------------- -------------
As at March 31,
2025 112,169,291 13,968 1,357,059 (598,098) 4,434 777,363
=========== ====== ========== =========== ============= =============
Exercise of
warrants 100 -- 2 -- -- 2
Exercise of
stock options 340,317 46 3,378 -- -- 3,424
Vesting of
RSUs 206 -- -- -- -- --
Share-based
compensation -- -- 15,179 -- -- 15,179
Total loss and
comprehensive
loss for the
period -- -- -- (17,364) (107) (17,471)
----------- ------ ---------- ----------- ------------- -------------
As at June 30,
2025 112,509,914 14,014 1,375,618 (615,462) 4,327 778,497
=========== ====== ========== =========== ============= =============
Exercise of
warrants 23,826 4 633 -- -- 637
Exercise of
stock options 638,944 89 5,529 -- -- 5,618
Share-based
compensation -- -- 15,010 -- -- 15,010
Total loss and
comprehensive
loss for the
period -- -- -- (72,005) 313 (71,692)
----------- ------ ---------- ----------- ------------- -------------
As at September
30, 2025 113,172,684 14,107 1,396,790 (687,467) 4,640 728,070
=========== ====== ========== =========== ============= =============
NewAmsterdam Pharma Company N.V.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
For the nine months ended September 30,
2025 2024
-------------------- ------------------
(In thousands of USD)
Operating activities:
Loss for the period (128,896) (149,421)
Non-cash adjustments to
reconcile loss before
tax to net cash flows:
Depreciation and
amortization 161 62
Non-cash rent
expense 3 8
Fair value change -
derivative earnout
and warrants 3,448 30,028
Loss on disposal of
property, plant and
equipment 1 --
Foreign exchange
(gains)/losses (13,137) (1,270)
Amortization of
premium/discount on
available-for-sale
debt securities (1,381) --
Share-based
compensation 45,402 24,204
Changes in working
capital:
Changes in
prepayments and
other receivables (3,216) (8,769)
Changes in accounts
payable (409) (9,751)
Changes in accrued
expenses and other
current
liabilities (2,876) (708)
Changes in deferred
revenue (6,008) (5,466)
------------------- ------------------
Net cash used in
operating activities (106,908) (121,083)
------------------- ------------------
Investing activities:
Purchase of
property, plant and
equipment,
including internal
use software (146) (669)
Maturities of
marketable
securities 71,563 --
Purchases of
marketable
securities (225,192) --
------------------- ------------------
Net cash used in
investing activities (153,775) (669)
------------------- ------------------
Financing activities:
Proceeds from
February 2024
offering of
Ordinary Shares and
Pre-Funded
Warrants -- 190,481
Transaction costs on
February 2024 issue
of Ordinary Shares
and Pre-Funded
Warrants -- (515)
Transaction costs on
December 2024 issue
of Ordinary Shares
and Pre-Funded
Warrants (1,586) --
Proceeds from
exercise of
warrants 458 13,421
Proceeds from
exercise of
options 16,964 498
Payment of
withholding taxes
related to net
share settlement of
exercised options -- (989)
------------------- ------------------
Net cash provided by
financing activities 15,836 202,896
------------------- ------------------
Net change in cash, cash
equivalents and
restricted cash (244,847) 81,144
Foreign exchange
differences 12,819 1,135
Cash, cash equivalents
and restricted cash at
the beginning of the
period 771,743 340,450
------------------- ------------------
Cash, cash equivalents
and restricted cash at
the end of the period 539,715 422,729
=================== ==================
Noncash financing and
investing activities
Right-of-use assets
obtained in
exchange for new
operating lease
liabilities -- 562
Issuance of earnout
shares 40,807 --
Reconciliation of cash,
cash equivalents and
restricted cash to the
Condensed Consolidated
Balance Sheets
Cash and cash
equivalents 538,407 422,729
Restricted cash 1,308 --
------------------- ------------------
539,715 422,729
======================= =================== ==================
(END) Dow Jones Newswires
November 05, 2025 08:00 ET (13:00 GMT)
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