William Blair starts NewAmsterdam at Outperform on obicetrapib confidence

William Blair analyst Matthew Phipps initiated coverage of NewAmsterdam Pharma with an Outperform rating and no price target. The analyst is confident obicetrapib will ultimately translate into clinically meaningful cardiovascular outcomes risk reduction in the ongoing Phase III trials. NewAmsterdam is currently conducting two Phase III trials designed to confirm the LDL-C benefit already reported in Phase II studies, with results from both expected in 2024, and a Phase III cardiovascular outcomes trial, with results expected in the first half of 2026, Phipps tells investors in a research note. He believes obicetrapib "has shown a drastically different clinical profile compared to prior programs," with LDL-C and apoB reduction approaching levels seen with PCSK9 inhibitors.