Recent News
On Oct. 30, 2025 NewAmsterdam announced plans to present pooled safety and efficacy data from the BROOKLYN, BROADWAY and TANDEM Phase 3 trials at the AHA Scientific Sessions in New Orleans, with an oral presentation scheduled for Nov. 9, 2025; company management also confirmed participation in multiple investor conferences in early November 2025.
Technical Analysis
ADX at 31.86 indicates a strong directional environment; strength of the move presently supports conviction that the current directional bias will persist near term.
DI+ stands at 23.24 and shows a peak-and-reversal, which represents bearish directional pressure; DI‑ sits at 17.55 with a dip-and-reversal, which also reads as bearish pressure on price action.
MACD sits at 0.43 below its signal line at 1.04 and the MACD trend shows a peak-and-reversal, signalling contracting bullish momentum and a bearish momentum profile.
MRO at 19.68 registers positive, indicating price sits above the oscillator’s target and faces downside pressure consistent with a potential decrease from current levels.
RSI at 56.45 with a peak-and-reversal indicates recent loss of upward momentum while still inside neutral range, reinforcing a short-term bearish bias.
Short-term moving averages bias toward weakness: the 12‑day EMA shows a peak-and-reversal and the stock trades below the 20‑day average ($38.51) and the 50‑day average ($36.27), signalling near-term selling pressure; price remains above the 200‑day average ($24.96), which preserves longer-term support.
Bollinger bands place the close ($35.26) below the 1× lower band ($36.33) but above the 2× lower band ($34.14), indicating the share price trades within the lower volatility band and near short-term support levels.
Ichimoku components show price above Senkou A ($34.86) and Senkou B ($32.26), which provides a longer-term cloud-based support reference despite the near-term bearish signals from momentum indicators.
Fundamental Analysis
Revenue sits at $348,000 with YoY revenue growth of -108.34% and QoQ revenue growth of -118.09%, reflecting minimal top-line activity versus operating investment levels that drive current losses.
Operating income (EBIT) equals -$55,143,000 and net income equals -$72,005,000. Operating margin registers -158.46%, well below the industry peer mean of -1.19% and outside the industry peer range on the low end. Research and development expense totals $30,971,000, underscoring the clinical-stage cost base.
EPS came in at -$0.53 versus an estimate of -$0.34, producing an EPS surprise of -55.88% relative to the estimate differential of -$0.19; forward EPS sits at -$0.4725, and forward P/E remains negative at -51.10.
Liquidity proves strong on balance sheet metrics: cash equals $538,407,000 and cash and short‑term investments equal $702,946,000, supporting a cash ratio near 12.06 and a current ratio near 12.57, which together indicate substantial near-term funding for operating programs despite ongoing cash burn (operating cash flow -$32,769,000 and free cash flow -$32,811,000).
Valuation multiples appear elevated: price‑to‑sales at 9,953.86 and enterprise‑value‑to‑revenue (EVR) near 7,934.66 reflect that market capitalization ($3,463,941,979) and enterprise value ($2,761,261,979) outpace current revenue and near‑term forward revenue ($64,610). WMDST values the stock as over‑valued.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-11-05 |
| NEXT REPORT DATE: | 2026-02-04 |
| CASH FLOW | Begin Period Cash Flow | $ 563.9 M |
| Operating Cash Flow | $ -32.77 M | |
| Capital Expenditures | $ -42.00 K | |
| Change In Working Capital | $ 983.0 K | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -24.15 M | |
| End Period Cash Flow | $ 539.7 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 348.0 K | |
| Forward Revenue | $ 64.6 K | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 64.0 K | |
| Depreciation and Amortization | $ 64.0 K | |
| Research and Development | $ 31.0 M | |
| Total Operating Expenses | $ 55.5 M | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | $ -55.08 M | |
| EBIT | $ -55.14 M | |
| Operating Income | $ -55.14 M | |
| Interest Income | $ 6.7 M | |
| Interest Expense | — | |
| Net Interest Income | $ 6.7 M | |
| Income Before Tax | $ -72.00 M | |
| Tax Provision | — | |
| Tax Rate | — | |
| Net Income | $ -72.00 M | |
| Net Income From Continuing Operations | $ -72.00 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.34 | |
| EPS Actual | $ -0.53 | |
| EPS Difference | $ -0.19 | |
| EPS Surprise | -55.882 % | |
| Forward EPS | $ -0.47 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 786.4 M | |
| Intangible Assets | $ 439.0 K | |
| Net Tangible Assets | $ 727.6 M | |
| Total Current Assets | $ 732.3 M | |
| Cash and Short-Term Investments | $ 702.9 M | |
| Cash | $ 538.4 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | $ 3.6 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 58.3 M | |
| Net Debt | — | |
| Total Debt | $ 266.0 K | |
| Total Liabilities | $ 58.4 M | |
| EQUITY | ||
| Total Equity | $ 728.1 M | |
| Retained Earnings | $ -687.47 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 6.43 | |
| Shares Outstanding | 113.173 M | |
| Revenue Per-Share | $ 0.00 | |
| VALUATION | Market Capitalization | $ 3.5 B |
| Enterprise Value | $ 2.8 B | |
| Enterprise Multiple | -50.133 | |
| Enterprise Multiple QoQ | -0.022 % | |
| Enterprise Multiple YoY | -2.028 % | |
| Enterprise Multiple IPRWA | high: 52.77 median: 26.559 mean: 5.347 NAMS: -50.133 low: -79.113 |
|
| EV/R | 7934.661 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.08 | |
| Asset To Liability | 13.476 | |
| Debt To Capital | 0.0 | |
| Debt To Assets | 0.0 | |
| Debt To Assets QoQ | -15.0 % | |
| Debt To Assets YoY | -38.182 % | |
| Debt To Assets IPRWA | high: 1.045 mean: 0.214 median: 0.075 low: 0.0 NAMS: 0.0 |
|
| Debt To Equity | 0.0 | |
| Debt To Equity QoQ | -11.905 % | |
| Debt To Equity YoY | -41.27 % | |
| Debt To Equity IPRWA | high: 1.395 mean: 0.194 median: 0.09 NAMS: 0.0 low: -0.869 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 4.758 | |
| Price To Book QoQ | 46.777 % | |
| Price To Book YoY | 9.749 % | |
| Price To Book IPRWA | high: 18.42 mean: 6.995 median: 5.8 NAMS: 4.758 low: -8.555 |
|
| Price To Earnings (P/E) | -57.75 | |
| Price To Earnings QoQ | -63.58 % | |
| Price To Earnings YoY | -41.667 % | |
| Price To Earnings IPRWA | high: 56.753 mean: -3.534 median: -11.208 NAMS: -57.75 low: -93.179 |
|
| PE/G Ratio | -0.188 | |
| Price To Sales (P/S) | 9953.856 | |
| Price To Sales QoQ | 7451.827 % | |
| Price To Sales YoY | 17542.919 % | |
| Price To Sales IPRWA | NAMS: 9953.856 high: 1129.647 mean: 73.454 median: 25.506 low: 0.466 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | -51.104 | |
| Forward PE/G | -0.166 | |
| Forward P/S | 53613.094 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -0.558 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.0 | |
| Asset Turnover Ratio QoQ | -98.166 % | |
| Asset Turnover Ratio YoY | -99.346 % | |
| Asset Turnover Ratio IPRWA | high: 0.438 mean: 0.117 median: 0.107 NAMS: 0.0 low: 0.0 |
|
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 520.898 median: 189.366 mean: 166.152 NAMS: 0 low: -314.885 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.001 | |
| CapEx To Revenue | -0.121 | |
| CapEx To Depreciation | -0.656 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 728.1 M | |
| Net Invested Capital | $ 728.1 M | |
| Invested Capital | $ 728.1 M | |
| Net Tangible Assets | $ 727.6 M | |
| Net Working Capital | $ 674.1 M | |
| LIQUIDITY | ||
| Cash Ratio | 12.063 | |
| Current Ratio | 12.567 | |
| Current Ratio QoQ | -40.396 % | |
| Current Ratio YoY | 18.406 % | |
| Current Ratio IPRWA | high: 24.687 NAMS: 12.567 mean: 4.301 median: 3.195 low: 0.02 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -0.005 | |
| Cost Of Debt | 382.155 % | |
| Interest Coverage Ratio | -48.584 | |
| Interest Coverage Ratio QoQ | 54.744 % | |
| Interest Coverage Ratio YoY | 131.033 % | |
| Interest Coverage Ratio IPRWA | high: 815.709 mean: 40.425 median: 4.326 NAMS: -48.584 low: -1538.4 |
|
| Operating Cash Flow Ratio | -1.273 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -3.519 % | |
| Revenue Growth | -98.182 % | |
| Revenue Growth QoQ | -118.085 % | |
| Revenue Growth YoY | -108.339 % | |
| Revenue Growth IPRWA | high: 301.849 % mean: 8.484 % median: 4.118 % NAMS: -98.182 % low: -259.856 % |
|
| Earnings Growth | 307.692 % | |
| Earnings Growth QoQ | -642.983 % | |
| Earnings Growth YoY | -648.49 % | |
| Earnings Growth IPRWA | NAMS: 307.692 % high: 162.5 % median: -6.452 % mean: -13.16 % low: -198.545 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | -15845.69 % | |
| EBIT Margin QoQ | 8413.147 % | |
| EBIT Margin YoY | 19226.369 % | |
| EBIT Margin IPRWA | high: 3270.865 % median: 35.352 % mean: -119.446 % low: -8139.786 % NAMS: -15845.69 % |
|
| Return On Sales (ROS) | -15845.69 % | |
| Return On Sales QoQ | 8413.147 % | |
| Return On Sales YoY | 19226.369 % | |
| Return On Sales IPRWA | high: 573.037 % median: 26.151 % mean: -113.754 % low: -7977.249 % NAMS: -15845.69 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -32.81 M | |
| Free Cash Flow Yield | -0.947 % | |
| Free Cash Flow Yield QoQ | -36.698 % | |
| Free Cash Flow Yield YoY | 23.629 % | |
| Free Cash Flow Yield IPRWA | high: 30.655 % median: 0.768 % mean: 0.314 % NAMS: -0.947 % low: -57.887 % |
|
| Free Cash Growth | -13.104 % | |
| Free Cash Growth QoQ | -474.936 % | |
| Free Cash Growth YoY | -82.935 % | |
| Free Cash Growth IPRWA | high: 190.123 % mean: 27.97 % median: 21.696 % NAMS: -13.104 % low: -198.468 % |
|
| Free Cash To Net Income | 0.456 | |
| Cash Flow Margin | -21322.989 % | |
| Cash Flow To Earnings | 1.031 | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | -8.992 % | |
| Return On Assets QoQ | 322.954 % | |
| Return On Assets YoY | 139.276 % | |
| Return On Assets IPRWA | high: 30.5 % median: 0.176 % mean: -2.231 % NAMS: -8.992 % low: -66.968 % |
|
| Return On Capital Employed (ROCE) | -7.573 % | |
| Return On Equity (ROE) | -0.099 | |
| Return On Equity QoQ | 343.498 % | |
| Return On Equity YoY | 125.08 % | |
| Return On Equity IPRWA | high: 0.948 median: -0.002 mean: -0.005 NAMS: -0.099 low: -1.385 |
|
| DuPont ROE | -9.458 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |