Phathom Pharmaceuticals, Inc. Stock Price, News & Analysis

Phathom Pharmaceuticals (Nasdaq: PHAT) announced the appointment of Molly Henderson as Chief Financial and Business Officer, effective April 5, 2022. Henderson, formerly CFO at UroGen Pharma, brings over 20 years of financial expertise, including roles at Advaxis and Iovance Biotherapeutics. Her appointment aims to enhance Phathom's corporate finance and business strategies as the company evolves into a commercial stage entity. Phathom focuses on developing innovative treatments for gastrointestinal diseases, particularly the potassium competitive acid blocker vonoprazan.

Frazier Life Sciences has successfully closed Frazier Life Sciences XI, L.P. (FLS XI), raising over $987 million, surpassing its target of $800 million. This fourth venture fund will continue focusing on biopharmaceuticals and innovative therapeutics through company creation and early-stage investments. Under the leadership of experienced partners, FLS XI follows the $617 million FLS X from 2020, adding to the firm’s total capital raised to over $3.1 billion. Frazier Life Sciences has supported numerous companies, including Phathom Pharmaceuticals (NASDAQ: PHAT) and Arcutis Biotherapeutics (NASDAQ: ARQT).

Phathom Pharmaceuticals (Nasdaq: PHAT) has submitted a new drug application (NDA) to the FDA for vonoprazan, aimed at treating erosive esophagitis (EE) and alleviating heartburn in adults. This condition affects around 20 million U.S. residents. The NDA is based on promising results from the Phase 3 PHALCON-EE trial, which demonstrated significant efficacy compared to the standard PPI treatment, lansoprazole. If approved, vonoprazan could redefine treatment for EE. Phathom has exclusive rights to vonoprazan in the U.S., Europe, and Canada, following its acquisition from Takeda.

Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT) reported financial results for Q4 and full year 2021, revealing a net loss of $35.8 million in Q4, down from $53.7 million in Q4 2020. Annual net loss increased to $143.9 million from $129.1 million in 2020. Key milestones include submission of a New Drug Application (NDA) for erosive esophagitis set for March 2022 and expected FDA approval of vonoprazan for H. pylori by May 3, 2022. The company anticipates the launch of vonoprazan-based therapies in the U.S. in late 2022, marking significant advancements in gastrointestinal treatments.

Phathom Pharmaceuticals (Nasdaq: PHAT) announced positive results from the Phase 2 PHALCON-NERD study for vonoprazan, demonstrating significant efficacy in relieving episodic heartburn associated with non-erosive gastroesophageal reflux disease (NERD). All dose levels (10 mg, 20 mg, 40 mg) achieved the primary endpoint, with relief rates of 56.0%, 60.6%, and 70.0% respectively compared to 27.3% for placebo (p<0.0001). Following these results, Phathom has launched a Phase 3 study (NERD-301) and plans discussions with the FDA regarding a pivotal Phase 3 trial for on-demand dosing. The company aims to address NERD, affecting approximately 70% of 65 million GERD patients in the U.S.

Phathom Pharmaceuticals (Nasdaq: PHAT) announced its participation in the 4th Annual Evercore ISI HealthCONx Conference on November 30, 2021, at 9:15 a.m. EST. The management team will also engage in one-on-one meetings during the event, which runs from November 30 to December 2, 2021. A live webcast and an archived recording will be available on their website for 90 days post-event. Phathom focuses on developing treatments for gastrointestinal diseases, notably with vonoprazan, a potassium competitive acid blocker.

Phathom Pharmaceuticals (Nasdaq: PHAT) announced participation in two upcoming virtual investor conferences. The first, Guggenheim Healthcare Talks, is scheduled for November 16, 2021, at 9:40 am EST. The second event, Jefferies London Healthcare Conference, will take place on November 17, 2021, at 5:00 am EST / 10:00 am GMT. Management will also engage in one-on-one meetings during the conferences. Webcast details and recordings will be available for 90 days on Phathom's website.

Phathom Pharmaceuticals (PHAT) reported positive developments, with the FDA accepting two New Drug Applications (NDAs) for vonoprazan-based treatments for H. pylori infections, granting Priority Review status. A PDUFA target date is set for May 3, 2022. Following a successful Phase 3 trial for erosive esophagitis, an NDA submission is targeted for Q1 2022. Despite a net loss of $36.7 million for Q3 2021, down from $34.1 million in Q3 2020, reduced R&D expenses were noted. Cash reserves are projected to sustain operations through mid-2023.

Phathom Pharmaceuticals (Nasdaq: PHAT) has withdrawn its previously planned public offering, citing adverse market conditions. The company announced a robust balance sheet with cash and equivalents of $225 million as of September 30, 2021, sufficient to fund operations into mid-2023, along with an additional $100 million available under its term loan facility. Phathom is focused on developing novel treatments for gastrointestinal diseases, particularly through its late-stage asset, vonoprazan. However, the cash figures are preliminary and subject to change.