NewAmsterdam Pharma Co NV
NAMSHealthcare|Biotechnology|Netherlands
$35.30
-0.66 (-1.84%)
Tangible Book
$5.70
Financials
Financial Snapshot
Market Cap
$4.13B
Enterprise Value
$636.1M
Revenue (TTM)
$22.6M
Net Income (TTM)
$-212.7M
Cash & Equivalents
—
Net Cash/Share
$4.88
Free Cash Flow (TTM)
$-142.2M
Operating CF (TTM)
$-141.9M
Debt/Equity
0
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$35.5M
Monthly Burn
$11.8M
Est. Runway
—
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $9.7M | $60.1M | $467.7M | $340.4M | $834.2M | $636.2M | $636.1M | |
| Operating Cash Flow | $-7.3M | $-29.5M | $10.7M | $-141.2M | $-158.6M | $-147.8M | $-141.9M | |
| Free Cash Flow | $-7.4M | $-29.5M | $10.4M | $-141.2M | $-159.2M | $-148.0M | $-142.2M | |
| Capital Expenditure | $-16.0K | $-24.0K | $-221.0K | $-24.0K | $-672.0K | $-246.0K | $-268.0K | |
| Financing Cash Flow | $13.9M | $84.7M | $391.9M | $8.9M | $659.5M | $29.5M | $34.1M |
R&D Spending
R&D (TTM)
$135.1M
R&D Intensity
598.7%
R&D Growth YoY
-4.8%
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $102.7M | $14.1M | $45.6M | $22.5M | $22.6M | |
| R&D Expense | $5.0M | $29.0M | $86.7M | $159.4M | $151.4M | $141.8M | $135.1M | |
| R&D % of Revenue | — | — | 84.5% | 1131.5% | 332.3% | 630.3% | 598.7% | |
| SG&A | $1.5M | $5.7M | $19.5M | $37.6M | $70.4M | $106.4M | $102.7M |
Income Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $102.7M | $14.1M | $45.6M | $22.5M | $22.6M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $102.7M | $14.1M | $45.6M | $22.5M | $22.6M | |
| R&D | $5.0M | $29.0M | $86.7M | $159.4M | $151.4M | $141.8M | $135.1M | |
| SG&A | $1.5M | $5.7M | $19.5M | $37.6M | $70.4M | $106.4M | $102.7M | |
| Operating Income | $-6.5M | $-34.7M | $-3.6M | $-183.0M | $-176.3M | $-225.7M | $-215.2M | |
| Interest Expense | $-423.0K | $-411.0K | $-287.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-7.1M | $-41.8M | $-22.6M | $-176.9M | $-241.6M | $-203.8M | $-212.7M | |
| Net Income | $-7.1M | $-41.8M | $-22.6M | $-176.9M | $-241.6M | $-203.8M | $-212.7M | |
| EPS (Diluted) | -0.09 | -0.51 | -1.19 | -2.15 | -2.56 | -1.72 | -1.79 | |
| EBITDA | $-6.6M | $-41.4M | $-22.3M | $-182.9M | $-176.2M | $-225.5M | $-214.9M | |
| Shares Out. (M) | 81.56 | 81.56 | 18.97 | 82.16 | 94.36 | 118.42 | 121.72 |
Balance Sheet
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $9.7M | $60.1M | $467.7M | $340.4M | $771.7M | $490.0M | $457.6M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $0.00 | $62.4M | $146.2M | $178.5M | |
| Total Current Assets | $11.3M | $66.7M | $478.0M | $346.8M | $863.4M | $675.7M | $658.0M | |
| Total Assets | $11.4M | $67.7M | $478.5M | $347.1M | $864.6M | $769.3M | $732.6M | |
| Total Current Liabilities | $15.8M | $11.2M | $36.1M | $49.9M | $106.9M | $85.8M | $67.4M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $15.8M | $11.3M | $48.4M | $58.7M | $107.1M | $85.9M | $67.4M | |
| Stockholders' Equity | $-4.4M | $56.4M | $430.1M | $288.4M | $757.5M | $683.4M | $665.2M | |
| Retained Earnings | $-7.5M | $-39.3M | $-140.0M | $-317.0M | $-558.6M | $-762.4M | $-810.8M |
Cash Flow Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-7.3M | $-29.5M | $10.7M | $-141.2M | $-158.6M | $-147.8M | $-141.9M | |
| Capital Expenditure | $-16.0K | $-24.0K | $-221.0K | $-24.0K | $-672.0K | $-246.0K | $-268.0K | |
| Free Cash Flow | $-7.4M | $-29.5M | $10.4M | $-141.2M | $-159.2M | $-148.0M | $-142.2M | |
| Investing Cash Flow | $-16.0K | $-24.0K | $-221.0K | $-24.0K | $-62.8M | $-174.9M | $-189.3M | |
| Financing Cash Flow | $13.9M | $84.7M | $391.9M | $8.9M | $659.5M | $29.5M | $34.1M | |
| Issuance of Stock | $0.00 | $84.7M | $397.0M | $0.00 | $645.5M | $0.00 | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $13.9M | $11.0K | $817.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $-11.0K | $-70.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $1.2M | $4.1M | $24.6M | $33.6M | $59.4M | $62.2M | |
| Net Change in Cash | $6.6M | $50.5M | $407.6M | $-127.3M | $431.3M | $-280.4M | $-289.5M |
Dilution Tracker
Shares outstanding grew 49.2% over 5 years — significant dilution
Shares Outstanding
122M
5-Year Share Growth
+49.2%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 81.56 | 81.56 | 18.97 | 82.16 | 94.36 | 118.42 | 121.72 | |
| YoY Change % | — | 0.0% | -76.7% | 333.2% | 14.8% | 25.5% | 2.8% | |
| Stock Issuance | $0.00 | $84.7M | $397.0M | $0.00 | $645.5M | $0.00 | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $1.2M | $4.1M | $24.6M | $33.6M | $59.4M | $62.2M |
Margins & Profitability
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | -3.5% | -1298.6% | -386.9% | -1002.9% | -953.6% | |
| Net Margin % | 0.0% | 0.0% | -22.0% | -1255.8% | -530.3% | -905.7% | -942.8% | |
| EBITDA Margin % | 0.0% | 0.0% | -21.8% | -1298.2% | -386.7% | -1001.9% | -952.6% | |
| FCF Margin % | 0.0% | 0.0% | 10.2% | -1002.4% | -349.5% | -657.8% | -630.1% | |
| ROE % | 0.0% | -160.8% | -9.3% | -49.3% | -46.2% | -28.3% | -29.3% | |
| ROA % | -62.3% | -105.7% | -8.3% | -42.9% | -39.9% | -24.9% | -27.1% | |
| R&D / Revenue | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S186.75
Historical31.18 / 111.62 / 264.94
Industry Med.9.49
P/B6.19
Historical1.66 / 4.38 / 6.79
Industry Med.2.93
EV/EBITDA-16.24
Historical-32.81 / -8.07 / -3.83
Industry Med.13.02
EV/Revenue154.67
Historical20.10 / 97.86 / 213.11
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$5.70
Net Current Assets
$5.060
Net-Net Working Capital
$4.88
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | 2.01 | 65.32 | 53.21 | 184.63 | 186.75 | |
| PB Ratio | 0.00 | 0.00 | 2.07 | 3.19 | 3.67 | 5.87 | 6.19 | |
| EV/EBITDA | 0.00 | 0.00 | -18.86 | -3.18 | -11.03 | -14.98 | -16.24 | |
| EV/Revenue | 0.00 | 0.00 | 4.10 | 41.22 | 42.66 | 150.07 | 154.67 |
Analyst Estimates & Quality
Altman Z-Score
35.21
Safe
Piotroski F-Score
3
Weak
Beneish M-Score
71.37
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $29.58M | $170.31M | $423.65M |
| Net Income | $-221.26M | $-194.98M | $-3.74M |
| EPS | -1.81 | -1.58 | -0.31 |
| Book Value per Share | 0.00 | 0.00 | 0.00 |
| Operating Cash Flow per Share | 0.00 | 0.00 | 0.00 |
| Operating CF | $0.00M | $0.00M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Discovery, development and commercialization of transformative therapies for cardio-metabolic | $22.5M |
By Geography
| Segment | 2025 |
|---|---|
| Italy | $22.5M |