Phathom Pharmaceuticals Reports Third Quarter 2025 Financial Results and Provides Business Update

Core Insights - Phathom Pharmaceuticals reported strong financial results for Q3 2025, with a focus on its gastrointestinal (GI) treatment strategy and commercial performance of VOQUEZNA tablets [2][5][10] Financial Performance - Net revenues for Q3 2025 reached $49.5 million, a 25% increase from the previous quarter, and a significant rise from $16.4 million in Q3 2024 [10][18] - Cash operating expenses decreased by 43% quarter over quarter, reflecting disciplined cost management [5][10] - The company updated its full-year 2025 revenue guidance to a range of $170 million to $175 million, with expectations of achieving operating profitability in 2026 [5][10] VOQUEZNA Commercial Progress - Over 790,000 total VOQUEZNA prescriptions have been filled to date, with a 28% increase in filled prescriptions from Q2 2025 [5][6] - The company has initiated a Phase 2 trial for VOQUEZNA in Eosinophilic Esophagitis (EoE), with patient screening underway [6][7] - VOQUEZNA's commercial coverage remains stable, with over 80% of U.S. commercial lives covered [6] Leadership and Strategic Initiatives - Phathom strengthened its leadership team by appointing Sanjeev Narula as Chief Financial and Business Officer and Nancy Phelan as Senior Vice President, Marketing and Analytics [6] - The company has focused on enhancing engagement with gastroenterologists through targeted sales efforts and a national sales territory realignment [6] Research and Development - R&D expenses for Q3 2025 were $7.0 million, down from $8.7 million in Q3 2024, indicating a focus on cost efficiency [10][18] - Additional data from the Phase 3 pHalcon-NERD-301 trial showed VOQUEZNA improved nocturnal GERD symptoms, highlighting its clinical efficacy [6]