Phathom Pharmaceuticals Inc
NASDAQ:PHAT
Phathom Pharmaceuticals Inc
Phathom Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of novel treatments for gastrointestinal diseases. The company is headquartered in Florham Park, New Jersey and currently employs 77 full-time employees. The company went IPO on 2019-10-25. The Company’s pipeline product candidate, vonoprazan is an oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a class of medicines that block acid secretion in the stomach. Vonoprazan has an anti-secretory effect and has demonstrated clinical benefits in the treatment of gastroesophageal reflux disease (GERD), and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. GERD and H. pylori infection are acid-related GI diseases. GERD is a disease that develops when the reflux of acidic stomach contents causes troublesome symptoms and/or complications. H. pylori is a bacterial pathogen.
Phathom Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of novel treatments for gastrointestinal diseases. The company is headquartered in Florham Park, New Jersey and currently employs 77 full-time employees. The company went IPO on 2019-10-25. The Company’s pipeline product candidate, vonoprazan is an oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a class of medicines that block acid secretion in the stomach. Vonoprazan has an anti-secretory effect and has demonstrated clinical benefits in the treatment of gastroesophageal reflux disease (GERD), and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. GERD and H. pylori infection are acid-related GI diseases. GERD is a disease that develops when the reflux of acidic stomach contents causes troublesome symptoms and/or complications. H. pylori is a bacterial pathogen.
Revenue Beat: Q3 net revenue was $49.5 million, up 25% QoQ, exceeding expectations and at the high end of guidance.
Expense Discipline: Operating expenses dropped 43% QoQ to $49.3 million, beating the target of under $60 million.
Cash Usage: Q3 cash usage was less than $15 million, down 77% from Q2, strengthening the company’s financial position.
Guidance Raised: Full-year revenue guidance was narrowed to $170–$175 million, the top half of the prior range.
GI Focus Success: Strategic shift to gastroenterology prescribers is delivering growth, with covered prescriptions up 23% QoQ.
Profitability Path: Management reiterated confidence in reaching operating profitability in 2026 without needing more equity funding.
Sales Force Realignment: Sales territories were restructured to prioritize GI doctors, with some short-term disruption expected in Q4 but anticipated acceleration in 2026.
