EU BioVoyage: Confidence In PREVAIL Interim & Obi's Differentiation Reiterated

研报英文原文证据摘录

EU BioVoyage: Confidence In PREVAIL Interim & Obi's Differentiation Reiterated

Biotechnology

NewAmsterdam Pharma

TD SECURITIES (USA) LLC QUICK TAKE: CONFERENCE TAKEAWAY

June 30, 2026

Price: $33.87 (06/29/2026) EU BioVoyage: Confidence In PREVAIL Interim

Price Target: NA & Obi's Differentiation Reiterated

BUY (1)

Tyler Van Buren THE TD COWEN INSIGHT

646 562 1343

We hosted NAMS management and a KOL to discuss recent NAMS developments. A win for

tyler.vanburen@tdsecurities.com

PREVAIL consists of a stat sig primary with a strong p-value and consistent MACE trends

Sam Rollenhagen and not necessarily a specific RRR. Confidence in the Q4 interim is bolstered by increased

212 468 7785 powering from the newer and more relevant 4-point endpoint and from positively trending

samuel.rollenhagen@tdsecurities.com

event rates from year one to year two.

Nicholas Lorusso

646 562 1390 Success Of PREVAIL Remains Most Important, Small Differences In RRR Not Found To Be

nick.lorusso@tdsecurities.com Commercially Differentiating

Greg W. Torres, Ph.D. Management emphasized that success in PREVAIL is ultimately defined by reaching statistical

646 562 1351

significance with a robust p-value and directional consistency across MACE components,

gregory.wiessner@tdsecurities.com

rather than an exact percentage reduction. Historical outcomes trials have generally

Ikenna Okafor, Ph.D. produced MACE reductions below 20% (e.g., ezetimibe ~7%, REVEAL ~9%, FOURIER/ODYSSEY

646 562 1395 ~15%, CLEAR Outcomes ~13%), reinforcing that incremental differences within the mid- to

ikenna.okafor@tdsecurities.com high-teens range are unlikely to be commercially meaningful. Once a therapy demonstrates

Key Data a positive outcomes benefit, prescribing behavior is expected to shift toward practical