Phathom Pharmaceuticals, Inc. Stock Price, News & Analysis

Phathom Pharmaceuticals (NASDAQ: PHAT) has submitted a Citizen Petition to the FDA requesting correction of Orange Book listings for VOQUEZNA tablets. The company seeks to ensure its vonoprazan tablets receive the full 10-year New Chemical Entity (NCE) exclusivity period until May 3, 2032, aligning with the exclusivity granted to VOQUEZNA TRIPLE PAK and DUAL PAK in May 2022.

The exclusivity period includes a five-year standard period for NCEs plus an additional five years under the Generating Antibiotic Incentives Now (GAIN) Act. This would prevent submission of any Abbreviated New Drug Application or 505(b)(2) New Drug Application referencing vonoprazan during this period. The FDA must respond to the petition within 180 days.

Phathom Pharmaceuticals reported strong Q3 2024 results with net revenues of $16.4 million, showing over 120% sequential quarterly increase from Q7.3 million in Q2. The company's VOQUEZNA® products reached over 143,000 prescriptions filled to date, a 138% increase since last quarter. Commercial coverage expanded to over 80% of U.S. commercial lives, covering approximately 120 million people. The prescriber base grew to more than 13,600, up 65% from previous quarter. However, net loss increased to $85.6 million compared to $43.2 million in Q3 2023, with SG&A expenses rising significantly to $76.1 million due to commercial infrastructure buildout.

Phathom Pharmaceuticals (Nasdaq: PHAT), a biopharmaceutical company specializing in gastrointestinal treatments, has announced its management team's participation in four major healthcare investor conferences. The schedule includes Guggenheim's Inaugural Healthcare Innovation Conference in Boston (Nov 12), Stifel 2024 Healthcare Conference in New York (Nov 18), Jefferies London Healthcare Conference (Nov 20), and 7th Annual Evercore HealthCONx Conference in Coral Gables (Dec 3). Live webcasts will be available for most events, with recordings accessible for 90 days on the company's website.

Phathom Pharmaceuticals (PHAT) has announced it will report its third quarter 2024 financial results and provide a business update via live webcast on Thursday, November 7, 2024, at 8:30 am ET. The company, which focuses on developing and commercializing gastrointestinal disease treatments, will make the webcast available through their investor relations website, with a recording accessible for 90 days afterward. Phathom markets VOQUEZNA® tablets for various GERD treatments and H. pylori infection through their VOQUEZNA® TRIPLE PAK® and DUAL PAK® products.

Phathom Pharmaceuticals announced presentations of VOQUEZNA® data at the American College of Gastroenterology 2024 Annual Meeting in Philadelphia. Key highlights include results from the PHALCON-NERD-201 trial evaluating on-demand VOQUEZNA treatment, which received the ACG Outstanding Research Award in the 'Esophagus' category.

The study demonstrated that all three VOQUEZNA doses (10mg, 20mg, 40mg) effectively relieved heartburn within three hours, with significant improvements noted within one hour. Additionally, a separate presentation, awarded the ACG Presidential Poster Award, showed VOQUEZNA's effectiveness in treating nocturnal GERD symptoms, with patients experiencing significantly more heartburn-free nights compared to placebo.

Phathom Pharmaceuticals (Nasdaq: PHAT), a biopharmaceutical company specializing in gastrointestinal (GI) treatments, has announced its participation in two upcoming investor conferences in September 2024:

1. The Morgan Stanley 22nd Annual Global Healthcare Conference in New York, NY, from September 4-6, where management will engage in one-on-one meetings.

2. The H.C. Wainwright 26th Annual Global Investment Conference in New York, NY, on September 9. Management will participate in a fireside chat at 12:00 pm ET and conduct one-on-one meetings throughout the day.

A live webcast and 90-day archived recording of the fireside chat will be available on Phathom's website in the News & Events section.

Phathom Pharmaceuticals (Nasdaq: PHAT) has announced the pricing of an underwritten offering of 8,695,652 shares of common stock at $11.50 per share and 2,608,922 pre-funded warrants at $11.499 per warrant. The gross proceeds are expected to be approximately $130 million. The offering is set to close around August 20, 2024. Phathom plans to use the net proceeds for commercialization expenses, clinical development of vonoprazan, working capital, and general corporate purposes. The offering is being managed by Evercore ISI, Stifel, and Guggenheim Securities as joint bookrunning managers, with H.C. Wainwright & Co., Needham & Company, and Craig-Hallum as co-lead managers.

Phathom Pharmaceuticals (Nasdaq: PHAT) reported strong Q2 2024 results, highlighting significant growth in VOQUEZNA prescriptions and revenue. Key points include:

- Over 122,000 VOQUEZNA prescriptions written, a 184% increase since last quarter
- Net revenues of $7.3 million, up 280% from Q1 2024
- FDA approval for VOQUEZNA 10mg to treat Non-Erosive GERD heartburn
- Commercial coverage expanded to over 116 million U.S. lives (77% of total)
- Net loss of $91.4 million for Q2 2024

The company's strong performance reflects growing demand for VOQUEZNA across the GERD market. With expanded FDA approval and increased commercial coverage, Phathom is well-positioned for continued growth in the gastrointestinal treatment space.

Phathom Pharmaceuticals (Nasdaq: PHAT) announces that CVS Caremark, the largest pharmacy benefit manager in the U.S., has added VOQUEZNA® (vonoprazan) tablets to its national formularies for over 26 million commercially insured members. This addition brings the estimated total of commercially covered lives with access to VOQUEZNA to over 116 million.

VOQUEZNA is the first major innovation in Gastroesophageal Reflux Disease (GERD) treatment in over 30 years and the only FDA-approved potassium-competitive acid blocker (PCAB) available in the U.S. It is approved for the relief of heartburn associated with Non-Erosive GERD and for the treatment of all severities of Erosive Esophagitis.

Phathom's Chief Commercial Officer, Martin Gilligan, stated that an estimated 77% of total commercial lives now have access to VOQUEZNA. The company is offering savings programs for eligible patients, including a savings card program allowing eligible commercially insured patients to pay as little as $25 for their prescription.