NewAmsterdam Pharma's Obicetrapib Could Capture Market Share, RBC Capital Markets Says

MT Newswires Live06-30

NewAmsterdam Pharma's (NAMS) obicetrapib could be a strong second option for patients with high LDL cholesterol, particularly if an ongoing phase 3 trial can recapitulate a 20% reduction in major adverse cardiovascular events, RBC Capital Markets said in a note Tuesday.

The brokerage said its survey showed 23% of 174 patients are not satisfied with existing treatment regimens, while a "significant" niche of patients may use obicetrapib as an add-on or switch therapy, suggesting an addressable market of up to $40 billion. RBC said it now estimates US sales of about $2.1 billion by 2035.

Additional benefits offered by obicetrapib are potential differentiators that may appeal to key opinion leaders, but the brokerage said its survey showed that these will not be a major driver of use.

RBC Capital Markets raised its price target on NewAmsterdam Pharma to $51 from $47, with an outperform, speculative risk rating.

Price: 33.86, Change: -0.01, Percent Change: -0.03

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