This study will be a placebo-controlled, double-blind, randomized, Phase 3 study to evaluate the efficacy, safety, and tolerability of obicetrapib 10 mg, both as a fixed-dose combination (FDC) with ezetimibe 10 mg and as monotherapy, on top of guideline-recommended lipid-lowering therapy in patients with metabolic syndrome and/or Type 2 Diabetes Mellitus.

Inclusion Criteria:

• fasting serum LDL-C ≥ 70 mg/dL (≥1.81 mmol/L)
• Have fasting TG ≥150 mg/dL (≥1.7 mmol/L) and <400 mg/dL (<4.5 mmol/L)
• Know diagnosis of T2DM OR have metabolic syndrome defined as fasting TG ≥150 mg/dL (≥1.7mmol/L) and <400 mg/dL (<4.5 mmol/L) and at least 2 risk factors
• Are on stable guideline-recommended lipid-lowering therapy
• Estimated glomerular filtration rate ≥15 mL/min/1.73 m2

Exclusion Criteria:

• Have current or any previous history of New York Heart Association class III or IV heart failure or left ventricular ejection fraction <30%
• Have been hospitalized for heart failure within 5 years prior to Screening
• Have uncontrolled severe hypertension
• Have a formal diagnosis of homozygous familial hypercholesterolemia
• HbA1c ≥10.0% (≥0.100 hemoglobin fraction) or a fasting glucose ≥270 mg/dL (≥15.0 mmol/L) at Screening
• active liver disease