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) [3] - Vonoprazan is marketed in the U.S. as VOQUEZNA® for various gastrointestinal conditions, including Non-Erosive GERD and H. pylori infection [3] Upcoming Events - Management will host a live webcast on May 1, 2025, at 8:00 am EDT to report first quarter 2025 financial results and provide a business update [1] - Additional information and access to the webcast can be found on the Events & Presentations section of the Phathom website [2] - A recording of the webcast will be available for 90 days following the event [2]

FLORHAM PARK, N.J., April 03, 2025 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases, announced today that members of the management team will participate in a fireside chat at the 24th Annual Needham Virtual Healthcare Conference on Tuesday, April 8th, 2025, at 10:15 am ET. Company management will also participate in one-on-one meetings during the conference, which will r ...

Company Overview - Phathom Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases [4] - The company has in-licensed exclusive rights to vonoprazan, a first-in-class potassium-competitive acid blocker (PCAB) [4] Leadership Appointment - Steven Basta has been appointed as President and Chief Executive Officer of Phathom Pharmaceuticals [1] - The Board of Directors approved inducement awards in connection with Mr. Basta's appointment [1] Inducement Awards - Mr. Basta will receive a non-qualified stock option to purchase 1,085,000 shares of Phathom common stock, with 25% vesting on April 1, 2026, and the remainder vesting in 36 equal monthly installments thereafter [2] - Additionally, Mr. Basta will be granted 360,000 performance stock units tied to specific stock price hurdles and a service-based vesting requirement, along with 180,000 performance stock units tied to annual Company revenue targets over a three-year performance period ending December 31, 2027 [2][3] - The performance stock units will be granted under the Inducement Plan upon the filing of a Form S-8 registration statement [3]

Core Viewpoint - Phathom Pharmaceuticals has appointed Steven Basta as the new President and CEO, succeeding Terrie Curran, to lead the company during a critical growth phase focused on expanding the commercial potential of its gastrointestinal treatments, particularly VOQUEZNA [1][2]. Company Overview - Phathom Pharmaceuticals is a biopharmaceutical company dedicated to developing and commercializing innovative treatments for gastrointestinal diseases, with a focus on the potassium-competitive acid blocker, vonoprazan, marketed as VOQUEZNA [5]. Leadership Transition - Steven Basta brings over 25 years of experience in the biopharmaceutical and medical device industries, having previously served as CEO at various companies, including SaNOtize and Mahana Therapeutics [3][4]. - Terrie Curran, the former CEO, expressed pride in the company's achievements over the past five years and confidence in its future growth potential [2]. Strategic Focus - The Board of Directors aims to accelerate commercial growth and enhance shareholder value under Basta's leadership, leveraging his extensive experience in product development and commercial strategy [2][3]. - Basta emphasized the need for innovative treatment options in the gastrointestinal market and Phathom's unique position to capture significant opportunities [2].

Core Insights - Phathom Pharmaceuticals has partnered with Kenan Thompson to raise awareness about gastroesophageal reflux disease (GERD) through the "GERD IS NO JOKE" campaign, highlighting the importance of discussing treatment options with healthcare providers [1][7][10] Company Overview - Phathom Pharmaceuticals is focused on developing and commercializing innovative treatments for gastrointestinal diseases, specifically through its product VOQUEZNA (vonoprazan), which is the first FDA-approved potassium-competitive acid blocker (PCAB) for GERD management [23][20] - VOQUEZNA is approved for adults for the relief of heartburn associated with Non-Erosive GERD and for the treatment of Erosive Esophagitis, addressing a significant unmet need in the GERD patient population [20][18] Industry Context - Over 65 million people in the U.S. suffer from GERD, with approximately 70% having Non-Erosive GERD and 30% having Erosive GERD, indicating a large market potential for effective treatments [3][18] - The campaign aims to empower individuals with GERD to engage in open discussions with their healthcare providers about treatment options, particularly VOQUEZNA, which offers rapid and durable acid suppression compared to traditional medications [6][7]

Phathom Pharmaceuticals (PHAT) Q4 2024 Earnings Call March 06, 2025 06:02 PM ET Company Participants Eric Ciarelli - Head Of Investor RelationsTerrie Curran - President & CEOMartin Gilligan - Chief Commercial OfficerMolly Henderson - Chief Financial & Business OfficerJoseph Stringer - Managing Director, Equity ResearchAnnabel Samimy - Managing DirectorChengxiang Liu - Vice President - Equity ResearchAzmi Nabulsi - Co-Founder & COO Conference Call Participants Yatin Suneja - Senior Managing Director, Biotech ...

Financial Data and Key Metrics Changes - For Q4 2024, the company reported net revenues of $29.7 million, representing an 81% sequential increase [54] - Full year 2024 net revenues totaled $55.3 million, with strong revenue growth observed in each quarter [55] - Gross profit for Q4 2024 was $25.8 million, resulting in a gross margin of 87%, an increase of 155 basis points from Q3 [57] - The company reported a GAAP net loss of $74.5 million for Q4 2024, compared to a loss of $79.6 million in Q4 2023 [62] - Cash and cash equivalents as of December 31, 2024, were $297 million, with an additional $100 million available from a debt facility [63] Business Line Data and Key Metrics Changes - VOQUEZNA prescriptions surpassed 300,000, with approximately 118,000 fills in Q4 2024, reflecting over 70% growth compared to Q3 [32][33] - The refill rate for VOQUEZNA in Q4 was about 70%, indicating strong patient retention [35] - The number of physicians writing prescriptions increased to over 20,000, with 75% of them having written more than one prescription [39][40] Market Data and Key Metrics Changes - VOQUEZNA remains covered for over 120 million lives, with commercial coverage above 80% [44] - The company has secured access for the majority of covered lives with a single step through a generic PPI prescription [45] Company Strategy and Development Direction - The company aims to make VOQUEZNA a household name through increased investment in consumer campaigns and targeting primary care physicians [12][41] - Plans to initiate a Phase 2 trial for eosinophilic esophagitis (EoE) are underway, with the belief that VOQUEZNA can serve as a first-line therapy [15][19] - The company is exploring the development of an orally disintegrating tablet (ODT) formulation to enhance patient compliance [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing launch and development goals for VOQUEZNA, anticipating continued momentum in 2025 [10][11] - The company is prepared for potential challenges in Q1 due to typical seasonal slowness but expects growth to resume thereafter [33][65] - Management emphasized the importance of commercial execution and the potential to displace PPIs in the GERD market [70] Other Important Information - The company submitted a Citizen Petition to the FDA for a 10-year exclusivity period for VOQUEZNA products, with a response expected by June 2025 [23][24] - The company is actively monitoring the OTC market opportunity and exploring real-world data related to GERD symptoms among GLP-1 users [22] Q&A Session Summary Question: Timeline for the Citizen Petition and potential outcomes - Management confirmed the FDA is required to respond within 180 days and expressed confidence in their legal position if the decision is unfavorable [76][78] Question: Expectations for Q1 growth - Management indicated that Q1 is expected to be softer than Q4 due to industry dynamics but anticipates growth to resume later in the quarter [79] Question: Phase 3 trial decision timeline - Management expects to have enough data to make a go/no-go decision by midyear [82] Question: Impact of DTC campaigns on prescribing - Management noted a significant increase in physician requests for VOQUEZNA due to DTC campaigns, with a 55% increase in requests reported [88] Question: Early refill trends for NERD - Management indicated that refill rates are tracking well and are in line with expectations for chronic medications [95] Question: Importance of BlinkRx - Management confirmed that BlinkRx remains important for supporting patient access and increasing refill rates [108] Question: ODT formulation and IP strategy - Management clarified that the ODT formulation and pediatric extension will be developed in parallel [114] Question: Resistance from prescribers - Management reported no significant resistance from prescribers, who are welcoming VOQUEZNA's novel mechanism [123]

Phathom Pharmaceuticals, Inc. (PHAT) came out with a quarterly loss of $0.79 per share versus the Zacks Consensus Estimate of a loss of $0.98. This compares to loss of $0.80 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 19.39%. A quarter ago, it was expected that this company would post a loss of $1.57 per share when it actually produced a loss of $1.32, delivering a surprise of 15.92%.Over the last four quarters, the compan ...

Financial Data and Key Metrics Changes - For Q4 2024, the company reported net revenues of $29.7 million, representing an 81% sequential increase quarter-over-quarter [40] - For the full year 2024, net revenues totaled $55.3 million, with strong revenue growth observed in each quarter [40] - Gross profit for Q4 2024 was $25.8 million, equating to a gross margin of 87%, an increase of 155 basis points over Q3 [41] - The company reported a GAAP net loss of $74.5 million for Q4 2024, compared to a loss of $79.6 million in Q4 2023 [46] Business Line Data and Key Metrics Changes - The company has filled over 300,000 prescriptions for its product, with approximately 118,000 filled in Q4 2024, reflecting over 70% growth compared to Q3 [24] - The refill rate among patients continuing therapy was about 70%, indicating strong patient retention [26] - The number of physicians writing prescriptions increased to over 20,000, with 75% of these writers prescribing more than once [28] Market Data and Key Metrics Changes - The company secured commercial coverage for over 120 million lives, with access typically requiring only one generic prescription step [32] - The awareness of the product among primary care physicians has nearly doubled since the product launch [30] - The company anticipates a soft Q1 due to typical seasonal trends but expects growth to resume thereafter [58] Company Strategy and Development Direction - The company plans to enhance brand awareness through a new consumer campaign and increase focus on primary care physicians [11][38] - The company is exploring new indications for its product, including a Phase II trial for eosinophilic esophagitis [12][44] - The company aims to position its product as a first-line therapy alternative to PPIs, leveraging its unique profile [14][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the product's potential to reach blockbuster status and emphasized the importance of commercial execution [9][51] - The company is optimistic about the ongoing launch and development goals, with a focus on driving growth in 2025 [10][21] - Management acknowledged the challenges of the current operating environment but remains committed to leveraging their strong foundation for future success [48] Other Important Information - The company submitted a citizen petition to the FDA for a ten-year exclusivity period for its products, with a response expected by June 2025 [20][56] - The company has a strong patent position, with expectations for extensions under the Hatch-Waxman Act [20] Q&A Session Summary Question: Can you clarify the timeline for the citizen petition and what happens if the decision is unfavorable? - Management confirmed the FDA is required to respond within 180 days and expressed confidence in their legal position if the outcome is not favorable [55][56] Question: What are the expectations for Q1 growth relative to Q4? - Management indicated that Q1 is expected to be softer than Q4 due to industry dynamics but anticipates growth to resume after the initial months [58] Question: When will there be enough data for the Phase III on-demand trial decision? - Management expects to have enough information by mid-year to make a decision regarding the trial [62] Question: Is the DTC campaign driving the increase in prescribing physicians? - Management confirmed that the DTC campaign is effectively motivating patients to request prescriptions, contributing to the increase in prescribers [66] Question: What are the refill trends and usage metrics for the product? - Management reported that refill rates are consistent with expectations and are tracking similarly to PPIs, indicating strong patient adherence [73] Question: How important is the BlinkRx program now that coverage has improved? - Management emphasized that BlinkRx remains important for supporting patients and increasing refill rates [82]

Financial Performance - VOQUEZNA generated $55.3 million in net revenues for 2024, with $29.7 million in Q4, representing an 81% increase from Q3[4] - Product revenue for Q4 2024 reached $29.664 million, a significant increase from $682 thousand in Q4 2023[22] - Gross profit for the year ended December 31, 2024, was $47.279 million, compared to $515 thousand in 2023[22] - Non-GAAP adjusted net loss for the full year 2024 was $262.3 million, compared to $129.7 million for 2023[9] - The net loss for Q4 2024 was $74.451 million, compared to a net loss of $79.569 million in Q4 2023[22] - The company reported a total stockholders' deficit of $253.580 million as of December 31, 2024, compared to $72.759 million in 2023[20] - Non-GAAP adjusted net loss for the year ended December 31, 2024, was $262.316 million, compared to $129.713 million in 2023[24] Expenses - SG&A expenses for Q4 2024 were $76.7 million, an increase of $19.7 million compared to Q4 2023[9] - R&D expenses for Q4 2024 were $8.6 million, a decrease of $4.8 million compared to Q4 2023[9] - Total operating expenses for the year ended December 31, 2024, were $324.746 million, up from $167.827 million in 2023[22] - Research and development expenses for the year ended December 31, 2024, were $34.082 million, down from $49.899 million in 2023[22] - Selling, general and administrative expenses for the year ended December 31, 2024, were $290.664 million, significantly higher than $117.928 million in 2023[22] Market Engagement - Over 300,000 filled prescriptions for VOQUEZNA products, a 110% increase since the last earnings report[5] - The number of VOQUEZNA prescribers grew to over 20,000, an increase of over 47% since the last quarterly earnings report[7] - The direct-to-consumer campaign "VOQUEZNA Can Kick Some Acid" has reached millions of GERD sufferers, driving strong patient engagement[7] Research and Development - Phase 2 EoE trial for VOQUEZNA is nearing initiation, with first patient enrollment planned for Q2 2025[4] Cash Position - Cash and cash equivalents as of December 31, 2024, were $297.3 million, with an additional $100 million available under the term loan[15] Risks - The company faces risks related to the commercialization of its products, including potential delays in regulatory approvals and competition[16]