FLORHAM PARK, N.J., Feb. 17, 2026 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that it will host a live webcast at 8:00 am EST on Thursday, February 26, 2026, to report its fourth quarter and full year 2025 financial results and provide a business update. A live webcast and additional information about the presentation can be accessed on the Events & Pres ...

Core Insights - The company is shifting its sales focus towards gastroenterologists, who are seen as early adopters for treating patients with gastroesophageal reflux disease (GERD) [1][5] - Phathom Pharmaceuticals expects to achieve operating profitability in the second half of 2026 [2] - The company generated $55 million in revenue in 2024 and anticipates $175 million for 2025 [3] Business Strategy - The strategic pivot towards gastroenterology aims to target patients who remain symptomatic despite existing therapies, with approximately 40% of reflux patients still experiencing pain [4][5] - The company plans to maintain tighter operating expense discipline while continuing revenue growth through this focused approach [5][6] - Phathom is refilling open territories and aims to have around 300 sales representatives by the end of March [6] Market Dynamics - A seasonal dip in January prescriptions is attributed to typical market dynamics, including insurance plan resets and prior authorization requirements [8] - The company believes it can convert 20% to 30% of gastroenterology PPI script volume to its product VOQUEZNA, potentially generating $1 billion in revenue from this segment [12][13] Pipeline and Development - Phathom is developing an eosinophilic esophagitis (EoE) program, which could provide significant economic benefits and potential exclusivity extensions [14][15] - The company is exploring longer-term business development opportunities that align with its gastroenterology focus [17] Financial Position - A recent capital raise was aimed at addressing a significant debt overhang and improving the company's capital structure [10] - The company has a new chemical entity (NCE) exclusivity that extends through May 2032, with potential for further extensions [16]

Summary of Phathom Pharmaceuticals Conference Call Company Overview - **Company**: Phathom Pharmaceuticals (NasdaqGS:PHAT) - **Product**: VOQUEZNA, the first PCAB (Potassium-Competitive Acid Blocker) in the U.S. for gastroesophageal reflux disease (GERD) treatment - **Market Size**: 65 million patients in the U.S. suffer from gastroesophageal reflux, with a historical PPI market exceeding $10 billion in revenue [2][3][9] Core Insights - **Market Opportunity**: 40% of GERD patients on standard therapy (PPIs) are still in pain, representing a significant opportunity for VOQUEZNA to convert these patients to a more effective treatment [3][4] - **Sales Growth**: - 2024 revenue: $55 million - 2025 revenue: Estimated $175 million, indicating a growth of $120 million year-over-year [9] - Expected transition to operating profitability in the second half of 2026 [10] - **Sales Strategy Shift**: Focus has shifted from primary care to gastroenterologists, who are identified as early adopters and the primary prescribers for patients in pain [10][11][14] Financial Performance - **Revenue Growth**: Consistent growth observed each quarter in 2025 despite sales force transitions and territory realignments [27][31] - **Sales Force Realignment**: - Target lists were updated to focus on gastroenterologists, removing unproductive primary care targets [20][22] - Full-strength sales organization expected by March 2026, with approximately 300 sales reps [22] Market Penetration Goals - **PPI Market Penetration**: Current penetration at 3% of the PPI script volume within gastroenterology, with a goal to convert 20%-30% of the 20 million PPI prescriptions written by gastroenterologists, potentially leading to $1 billion in revenue [78][84] Future Outlook - **2026 Strategy**: Focus on executing the current strategy without major shifts, emphasizing sales execution and customer engagement [41][42] - **EoE Market Potential**: Ongoing trials for eosinophilic esophagitis (EoE) could extend exclusivity and provide additional revenue opportunities [96][108] - **Pipeline Development**: Plans to explore additional products for launch through existing gastroenterology relationships, focusing on assets with clear human efficacy data [123][126] Additional Considerations - **Debt Management**: Recent capital raise aimed at improving the balance sheet and renegotiating debt terms to alleviate investor concerns [73] - **Seasonal Fluctuations**: January script declines attributed to seasonal factors and insurance plan resets, not indicative of underlying demand [46][50] This summary encapsulates the key points discussed during the conference call, highlighting Phathom Pharmaceuticals' strategic focus, financial performance, and future growth opportunities in the gastroenterology market.

Company Overview - Phathom Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases [3] - The company has in-licensed exclusive rights to vonoprazan, a first-in-class potassium-competitive acid blocker (PCAB), for the U.S., Europe, and Canada [3] - Phathom markets vonoprazan in the U.S. as VOQUEZNA® for various gastrointestinal conditions, including heartburn associated with Non-Erosive GERD and H. pylori infection treatment [3] Upcoming Events - Members of Phathom's management team will participate in a fireside chat at the Guggenheim Emerging Outlook Biotech Summit 2026 on February 12, 2026 [1] - The conference will take place from February 11-12, 2026, in New York, NY, and will include one-on-one meetings [2] - A live webcast and archived recordings of the event will be available on Phathom's website for 90 days following the meeting [2]

Market Overview - U.S. stock futures declined on Thursday after a mixed close on Tuesday, with only the Nasdaq 100 index ending in positive territory [1] - The Dow Jones futures fell by 0.29%, S&P 500 by 0.23%, Nasdaq 100 by 0.30%, and Russell 2000 by 0.45% [2] - The 10-year Treasury bond yielded 4.15%, while the two-year bond was at 3.47% [2] - The CME Group's FedWatch tool indicates an 88.4% likelihood of the Federal Reserve maintaining current interest rates in January [2] Stocks in Focus - AZZ Inc. (NYSE:AZZ) shares rose by 2.8% in premarket trading after reporting strong third-quarter earnings [6] - Immuneering Corp. (NASDAQ:IMRX) shares fell by 22.93% following the announcement of updated survival and safety data from its Phase 2a trial for pancreatic cancer [6] - Northrop Grumman Corp. (NYSE:NOC) shares increased by 6.84% after President Trump proposed raising the 2027 military budget from $1 trillion to $1.5 trillion [6] - Phathom Pharmaceuticals Inc. (NASDAQ:PHAT) shares dropped by 14.22% after announcing a $130 million public offering [14] - Constellation Brands Inc. (NYSE:STZ) shares rose by 2.32% after reporting better-than-expected third-quarter earnings [14] Economic Insights - Economist Paul Krugman warns that the Trump administration's economic policies may pose risks to the broader economy and stock market, suggesting that the market is pricing in unrealistic revenue streams [10][11] - Krugman highlights the potential disconnect between market exuberance and economic fundamentals, predicting a painful correction as the "oil fantasy" dissipates [12]

Group 1 - Phathom Pharmaceuticals, Inc. announced a public offering of 6,875,000 shares of common stock priced at $16.00 per share, along with pre-funded warrants for 1,250,078 shares priced at $15.999 each, aiming for gross proceeds of approximately $130 million before expenses [1][2] - The offering is expected to close on or about January 9, 2026, pending customary closing conditions [1] - The underwriters have a 30-day option to purchase an additional 1,218,761 shares at the public offering price [1] Group 2 - The net proceeds from the offering will be used for general corporate purposes, including working capital and expenses related to commercialization and research and development [2] - Guggenheim Securities and Cantor are acting as joint bookrunning managers, with Raymond James, Needham & Company, H.C. Wainwright & Co., and Craig-Hallum serving as co-managers for the offering [2] Group 3 - Phathom Pharmaceuticals focuses on developing and commercializing novel treatments for gastrointestinal diseases, including the exclusive rights to vonoprazan, a first-in-class potassium-competitive acid blocker [5] - Vonoprazan is marketed in the U.S. under the brand name VOQUEZNA® for various gastrointestinal conditions, including heartburn and H. pylori infection [5]

Core Viewpoint - Phathom Pharmaceuticals, Inc. plans to conduct an underwritten public offering of its common stock or pre-funded warrants, with a potential additional 15% option for underwriters [1][2] Group 1: Offering Details - The company intends to offer shares of its common stock or pre-funded warrants to certain investors [1] - The offering is subject to market conditions and other factors, with no assurance on completion or terms [1] - A shelf registration statement was filed with the SEC on January 7, 2026, which became effective automatically [3] Group 2: Use of Proceeds - Net proceeds from the offering will be used for general corporate purposes, including working capital and R&D expenses [2] Group 3: Company Background - Phathom Pharmaceuticals focuses on developing and commercializing treatments for gastrointestinal diseases [5] - The company has exclusive rights to vonoprazan, a potassium-competitive acid blocker, in the U.S., Europe, and Canada [5] - Vonoprazan is marketed in the U.S. for various gastrointestinal conditions, including heartburn and H. pylori infection [5]

Financial Results Announcement - Phathom Pharmaceuticals, Inc. announced preliminary unaudited financial results for Q4 and full year 2025 on January 7, 2026[4]. - A press release detailing the financial results is attached as Exhibit 99.1[6]. - The financial results include key metrics that will be elaborated in the press release[4]. Compliance and Listing Information - The company is listed on The Nasdaq Global Select Market under the symbol PHAT[2]. - The report is filed under the SEC regulations, indicating compliance with the Securities Exchange Act of 1934[5].

Core Insights - Phathom Pharmaceuticals, Inc. reported preliminary unaudited financial results for Q4 and full year 2025, indicating significant revenue growth and operational milestones [1][6]. Group 1: Preliminary Financial Results - For Q4 2025, Phathom expects net revenues of approximately $57 million to $58 million, with GAAP operating expenses of approximately $59 million to $61 million and non-GAAP operating expenses of approximately $51 million to $53 million, excluding about $8 million of stock-based compensation [8]. - For the full year 2025, net revenues are anticipated to be around $174.5 million to $175.5 million, with GAAP operating expenses of approximately $315.5 million to $317.5 million and non-GAAP operating expenses of approximately $284.5 million to $286.5 million, excluding about $31 million of stock-based compensation [8]. Group 2: Product Milestones - Phathom surpassed one million prescriptions dispensed for VOQUEZNA products in the U.S. since its launch during Q4 2025 [4]. Group 3: Future Outlook - The company anticipates achieving operating profitability in the second half of 2026, excluding stock-based compensation [5].

Core Insights - Biotech companies experienced significant gains in after-hours trading, driven by investor interest despite limited news catalysts [1] Company Updates - GH Research PLC (GHRS) saw the largest increase, rising 22.36% to $16.20 ahead of a key update on its Investigational New Drug Application (IND) for GH001 with the FDA, scheduled for January 5, 2026 [2] - Phathom Pharmaceuticals, Inc. (PHAT) increased by 5.03% to $16.50, with the rise attributed to investor positioning rather than new announcements [3] - Forte Biosciences, Inc. (FBRX) gained 3.56%, closing at $24.45, continuing its upward trend in the biotech sector without any new updates [3] - OKYO Pharma Limited (OKYO) advanced 5.38% to $2.35, influenced by prior disclosures regarding share acquisitions by its Executive Chairman [4] - Zai Lab Limited (ZLAB) rose 5.60% to $18.30, reflecting ongoing investor interest in international biotech firms [5] - LifeMD, Inc. (LFMD) added 3.15% to $3.60, with no corporate updates released [5] - Werewolf Therapeutics, Inc. (HOWL) climbed 3.58% to $0.67, indicating speculative interest in smaller-cap biotech stocks [6] - Corvus Pharmaceuticals, Inc. (CRVS) increased by 7.24% to $7.85, extending its upward momentum without any new announcements [6]