Phathom Pharmaceuticals, Inc. Stock Price, News & Analysis

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.

Phathom Pharmaceuticals (Nasdaq: PHAT), a biopharmaceutical company focused on gastrointestinal diseases, has announced it will host a live webcast on Thursday, August 8, 2024, at 8:30 am ET to report its second quarter 2024 financial results and provide a business update. The webcast will be accessible on the company's website and will be available for 90 days following the event.

Phathom specializes in developing and commercializing novel treatments for gastrointestinal diseases. The company has exclusive rights to vonoprazan, a first-in-class potassium-competitive acid blocker (PCAB) marketed in the US as VOQUEZNA® for various GERD-related treatments and VOQUEZNA® TRIPLE PAK® and VOQUEZNA® DUAL PAK® for H. pylori infection treatment in adults.

Phathom Pharmaceuticals announces FDA approval of VOQUEZNA® (vonoprazan) 10 mg tablets for the relief of heartburn associated with Non-Erosive Gastroesophageal Reflux Disease (GERD) in adults. This marks VOQUEZNA's third FDA approval, following treatments for Erosive Esophagitis and H. pylori infection.

VOQUEZNA represents the first major innovation in GERD treatment in over 30 years, targeting the largest category of GERD affecting an estimated 45 million U.S. adults. In the Phase 3 PHALCON-NERD-301 study, VOQUEZNA demonstrated significant and rapid reduction of heartburn, with 45% heartburn-free days compared to 28% for placebo.

The approval provides a novel treatment option for millions of Non-Erosive GERD patients who remain dissatisfied with current therapies. VOQUEZNA is now available via prescription, with savings programs offered for eligible patients facing coverage or affordability issues.

Phathom Pharmaceuticals (Nasdaq: PHAT) will participate in two key investor conferences in June 2024. The company will present at the Jefferies Global Healthcare Conference in New York on June 5 at 12:30 p.m. ET, and at the Goldman Sachs 45th Annual Global Healthcare Conference in Miami Beach on June 11 at 2:40 p.m. ET. Both events will feature live webcasts and archived recordings available on Phathom's website for 90 days post-conference. Management will also hold one-on-one meetings throughout both conferences.

Phathom Pharmaceuticals will present data on VOQUEZNA® (vonoprazan) at Digestive Disease Week® (DDW) 2024, held from May 18-21 in Washington, D.C. The company will showcase Phase 3 results for Non-Erosive Reflux Disease (NERD) and research on Erosive GERD, shedding light on health care resource utilization and treatment patterns. The U.S. FDA has accepted Phathom's New Drug Application for VOQUEZNA as a daily treatment for heartburn associated with Non-Erosive GERD, with a target action date of July 19, 2024.