ARTICLE | Finance
NewAmsterdam’s CETP readout leads to week’s largest follow-on
By Jeff Cranmer, Executive Editor
December 14, 2024 1:54 AM UTC
At least six biotechs parlayed mid-to-late stage data into financings, with two of the companies, NewAmsterdam and CG, raising more than $200 million a piece.
NewAmsterdam Pharma Co. N.V. (NASDAQ:NAMS) brought in the most at $416.5 million. The raise came after obicetrapib hit the primary endpoint in the Phase III BROADWAY study, with the CETP inhibitor reducing LDL-C by 33% (p<0.0001) in patients at risk of CV disease with elevated LDL-C for whom existing therapies aren’t effective or well-tolerated. The data lifted the biotech’s stock 41% on Tuesday. …
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- Source: https://www.biocentury.com/article/654481/data-spells-money-for-a-quintet-of-biotechs