NewAmsterdam Pharma (NAMS) reported Q3 2025 results characterized by a significant shift in revenue recognition methodology, increased commercial spending, and progress on key regulatory fronts, offset by sharply widened quarterly losses.
Financial Performance & Metrics (9M Ended 9/30/2025): YTD Revenue declined 31% to $22.5M, primarily due to the non-repeat of a major 2024 Menarini milestone payment. Revenue recognition in 9M 2025 was heavily skewed by the settlement of deferred R&D performance obligations (\(\sim\\)22.1M recognized). While R&D expenses declined YoY ($103.2M YTD), SG&A
...