NAARDEN, the Netherlands and MIAMI - NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS), a biopharmaceutical firm focused on developing non-statin therapies for cardiovascular diseases, today announced the appointment of Juliette Audet as Chief Business Officer (CBO), effective immediately. Audet's ascension to CBO coincides with her resignation from the company's Board of Directors, a position she has held since 2020.
Audet brings to her new role over a decade of experience in the biopharmaceutical industry, including senior leadership positions. She was instrumental in the early stages of NewAmsterdam Pharma, contributing to the out-licensing of the company's key product candidate, obicetrapib, and establishing operations.
Her background includes a tenure as Partner at Forbion, a role at Novartis (SIX:NOVN) Venture Fund, and consulting for McKinsey and Company, focusing on Pharma and Biotech. She is also a Harvard Business School graduate with an M.B.A. with distinction and holds an M.Sc. in Physics from EPFL.
Michael Davidson, M.D., CEO of NewAmsterdam, expressed confidence in Audet's ability to enhance the company's growth into a global commercial organization. Davidson highlighted Audet's comprehensive perspective and trusted advisory role in her previous board position.
In her statement, Audet expressed enthusiasm for her new role and the opportunity to contribute to the company's mission to transform care for high-risk cardiovascular patients. She underscored the potential of obicetrapib, an oral CETP inhibitor, to serve millions of patients inadequately treated by current therapies.
NewAmsterdam is currently conducting multiple Phase 3 studies on obicetrapib, which is being evaluated as a preferred LDL-C lowering therapy, both alone and in combination with ezetimibe. The company expects pivotal readouts for obicetrapib later this year.
The information in this article is based on a press release statement from NewAmsterdam Pharma Company N.V.
InvestingPro Insights
As NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) welcomes Juliette Audet as its new Chief Business Officer, investors are closely monitoring the company's financial health and market performance. Here are some key insights based on real-time data from InvestingPro and InvestingPro Tips that may be of interest:
InvestingPro Data:
- The company has a market capitalization of $2.11 billion.
- NewAmsterdam's Price / Book ratio, as of the last twelve months ending Q4 2023, stands at 7.32, indicating a valuation that is high relative to the company's book value.
- Despite experiencing a significant revenue decline of 86.28% over the last twelve months, the company saw a quarterly revenue growth of 27.16% in Q4 2023.
InvestingPro Tips:
- NewAmsterdam has been highlighted for holding more cash than debt on its balance sheet, which can provide a cushion against market volatility or unexpected expenses.
- The company's liquid assets exceed short-term obligations, suggesting a strong liquidity position that could support ongoing operations and investment in research and development.
These metrics and tips are particularly relevant as NewAmsterdam Pharma continues to invest in its key product candidate, obicetrapib. While analysts anticipate a sales decline in the current year and do not expect the company to be profitable this year, the strong liquidity position could help sustain the company through its crucial Phase 3 studies.
For those looking to delve deeper into NewAmsterdam Pharma's financials and market performance, InvestingPro offers additional insights. There are more InvestingPro Tips available, providing a comprehensive analysis of the company's prospects. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription for more in-depth information.
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